comtec gwent cwmbran Sigma Recruitment Agency brings you the latest employment news from Cwmbran Gwent.

Comtec, based in Cwmbran Gwent, the software creator for travel agencies including Thomas Cook and TUI, has completed a major refinancing initiative.

The private equity-backed company hailed the support of its bank, which stood by it despite a covenant breach at the end of 2013. Comtec has since appointed new chief executive Michael Russell in a bid to drive the business forward.

But Comtec said its “supportive” lender agreed in principle with directors to waive the breach and reset covenants, refinance the business and defer loan amortisation and bullet repayments, which were due in 2014 and 2015.

For full details of the deal click here

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