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Arthur D Little has secured a $6m liquidity loan to allow it to pay “critical vendors and subcontractors” while the current bid process is concluded.
"This provides us with the funding that we need to conduct business as usual as we work to conclude our transaction," said David Lampe, an Arthur D.
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Little spokesman – adding that "a number of strong bids" have been received since the prior buyout deal collapsed late last year.
The tight timeframe for bids and the need to secure new loans just to pay ordinary bills suggest ADL was left in real difficulties when the prior deal fell apart with a consortium headed by Whitney & Co. The outcome of the current round of bids is expected to be known within weeks
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