When Highbury House Communications, the North London-based publisher of many well-known newsstand magazines, finally limped into administration in early 2006, it had total net debts of £29.5m. Much of this had been ratcheted up by overly ambitious executives who overvalued acquisitions including Paragon Communications and underestimated the potential costs involved in launching new media products. In its terminal stage, one-time Sun editor and media hard man Kelvin Mackenizie took over the helm, allegedly sinking some £1.5m of his own money into the company. But after three months he walked away, admitting defeat. It seemed that this business was a complete 'basket case'.
The company provides person-centred support, progression and community integration, helping clients gain skills for living, employment and social skills.
LEASEHOLD
Highly successful business operating over a span of six years. Offers a comprehensive range of high-quality products and has successfully launched stock for over 400 suppliers.
FREEHOLD
Offers an extensive range of roofing and building services, ranging from minor works to major, multi-trade construction projects.
LEASEHOLD
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources