Bibby Offshore is set to go through a debt restructuring, according to The Times newspaper. The company has hired consultants EY to reorganise its finances.
Bibby Line Group has worked offshore since the early 1980s. In 2003, the group consolidated all its offshore activities into Bibby Offshore, based in Aberdeen. It now focuses on two areas: subsea construction/IRM and offshore operational and maintenance support.
Earlier in the month it was rumoured Dutch offshore and dredging giant Boskalis was looking at buying into Bibby Offshore in a deal which would value the company at around £52m.
