Mon, 20 Dec 2010 | ADMINISTRATION
Outsourcing firm Mailcom (UK) Ltd has entered administration for the second time this year, with insolvency specialist FRP Advisory acting as administrator.
According to industry sources, Mailcom (UK) had lost a major contract with Santander, an occurrence which is thought to have contributed to Mailcom’s present situation.
Transactional mailer Opus Trust Marketing (OTM) has bought the firm’s order book and taken on 30 employees. The assets acquired represent 35 per cent of Mailcom’s business.
Chief executive of OTM, Linda Scott said, “The business taken on by Opus Trust Marketing will be transferred to our Leicester operation as soon as practically possible.”
Mailcom PLC was placed into administration for the first time in April this year and was soon bought in a £1 million pre-pack deal by Mailcom (UK). The move wiped out £1 million of debt, taking the total amount of eradicated debt to £4.5 million within ten months.
Cashflow problems and a potential depreciation of the firm’s assets were reasons attributed to Mailcom PLC’s predicament.
Mailcom (North) entered administration in June 2009, still owing £3.5 million to unsecured creditors. It was purchased by Mailcom PLC for £85,000.
Mailcom (UK) provides transactional mailing, direct mail, and contact centre management services. It operates from two sites in Tyne and Wear and Milton Keynes and has a total of 300 employees, according to its website.
Mailcom (UK) is not in any way associated with the franking machines company Mailcoms Ltd.
Utilises a large fleet of articulated units and trailers to provide transportation and delivery services depot-to-depot via fully loaded trailers. Provides its comprehensive service offering for several blue-chip organisations. Receives a high volume...
This independently run Heating Engineers delivers a variety of services to a wide range of clients in its local area.
Established over 15 years this care provider has become very well known in the local area for the high quality of care and companionship they provide to their clients.
02
|
May
|
Two country hotels sold following confidential marketing process | COMMERCIAL PROPERTY
Two country hotels in the South East of England have been so...
02
|
May
|
Two South East accountancy firms agree to merge | MERGER
Two accountancy firms based in the South East have announced...
02
|
May
|
Legal services group completes eighth acquisition | BUSINESS SALE
Acquisitive legal services group Lawfront has completed a de...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.