Fri, 04 Apr 2014 | ADMINISTRATION
A provisional liquidator has been appointed to Buzreel Limited, the Dublin-based company that publishes the Buy and Sell magazine.
High Court Justice Brian McGovern appointed Neil Hughes as the provisional liquidator on Wednesday 2 April.
Buzreel is based at Bridgecourt Office Park, Walkinstown Avenue, Dublin, where it publishes five new issues of Buy and Sell a week, and runs the website www.buyandsell.ie.
People can browse the website for various items for sale including furniture, vehicles, boats and dogs. It also features job, dating and farming related adverts.
The company that prints the magazine, Midland Web Printing Ltd, made the application, which is owed over €90,000 (£74,000) by Buzreel, and is one of its largest creditors.
The printing firm, which was in the process of investing in Buzreel, wanted to step in when it found out that the company was to cease trading, with concerns that the asset value would be reduced significantly. Midland sought to bring in a provisional liquidator to see that the magazine can continue to be published and website updated in the short-term.
A sale of the assets would mean some of the jobs are retained, Midland said, and that it was in the best interest of the creditors for the liquidator to be brought in.
The situation will come before the court again later on this month.
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