Harworth sets out £7.4m in cost cuts to fend off Peel.
Land and property regeneration specialist Harworth on Tuesday set out £7.4m of planned cost cuts as it resists Peel’s unsolicited takeover bid, aiming to create a simpler, lower‑cost platform focused on powered land and data centres.
Harena Resources
15 September 2026 08:07:53
Source: Sharecast
The group said £1.3m of savings have already been delivered through job losses, with 94% of the programme due by end‑2027.
Based on £36.3m of administrative expenses to December 2025, the measures represent a 20.4% reduction in overheads.
Harworth’s board reiterated its unanimous rejection of Peel’s offer, saying it fundamentally undervalues the company’s prospects.
Peel Pepper, a subsidiary of Peel Holdings, made its unsolicited offer in August, valuing Harworth at approximately £582.9m.
Reporting by Frank Prenesti for Sharecast.com
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