Fri, 17 Jun 2011 | ADMINISTRATION
The licensed goods firm The Licence Factory has had administrators appointed, after being called in by its lender.
The company, which is a wholly-owned subsidiary of the Stockport company, Marlwood, and its primary trading entity, is now under the control of administrators from RMS Tenon, who are said to be exploring all options for its future, including a sale.
The administrators were appointed by Marlwood’s funders, GE Commercial Finance. A statement issued by Marlwood yesterday said they were working with the administrators to secure a future for the company.
“Marlwood will continue to explore the options available to it with respect to the ongoing business, however, it is clear that this appointment will present severe challenges to the group,” the statement said. “We intend to issue a trading update shortly to provide shareholders with further information about the financial position of the group.”
The Licence Factory specialises in producing branded fashion and home accessories, including luggage, umbrellas and cosmetics bags. Financial figures published for 2010 showed Marlwood made a pre-tax loss of £1.36 million on revenues of £3.04 million.
Marlwood had managed to raise £1.5 million last December through placing 151.7 million shares with investors. The money raised was used to provide working capital to promote and distribute brands, fulfil orders for the first half of 2011 and attempt to settle overdue liabilities.
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
03
|
May
|
BGF-backed asbestos services firm makes third acquisition | BUSINESS SALE
Environmental Essentials, a specialist asbestos services fir...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
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.