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UK Businesses For Sale

Humberts bought out of administration by the Mercantile Group
12/06/2008

Estate agency chain, Humberts which is over 150 years old, went into administration in early June. The estate agent has already been bought out by a business restructuring group that jointly owns Chesterton.

Humberts was sold to the Mercantile Group for £3.16m, including the cancellation of outstanding payments. The sale was managed by administrator Smith & Williamson.

The chairman of Mercantile, Salah Mussa, purchased Chesterton with Vincent Tchenguiz in 2005 for £4m.

Tchenguiz already owns 23% of Humberts through his Consensus Group of businesses.

Most of the businesses that make up Humberts are still running due to a ‘pre-pack’ deal, where a deal is struck out before the company is formally placed in administration. This was undertaken to maintain goodwill and retain business operation.

Of the 80 Humberts branches, Mercantile has bought 34 which were part of the original Humberts group. As well as 10 franchises, Farleys and Wellingtons estate agencies, which are going concerns and not part of the administration.

The remaining 14 Humberts branches are being sold by Smith & Williamson.
Informa rejects new offer from private equity consortium
05 Sep 2008
Events and exhibitions firm, Informa, has rejected a reduced takeover bid from a private equity cons...[more]
Construction business in administration
04 Sep 2008
The construction arm of Time and Tide Homes Ltd has recently gone into administration. The owners of...[more]
Dunlopillo has fallen into administration
03 Sep 2008
Dunlopillo, the Yorkshire-based pillows and bedding manufacturer, has gone into administration leavi...[more]
Superquinn, the Irish supermarket chain, may be for sale
02 Sep 2008
Superquinn, the privately-owned Irish supermarket chain, has received several unsolicited approaches...[more]
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