Thu, 15 Aug 2013 | ADMINISTRATION
Thomson Directories is understood to have entered administration with a number of redundancies already made. Grant Thornton is thought to have been appointed to handle the administration.
The company is a UK subsidiary of Italian publisher, Seat Pagine Gialle (SPG), and operates out of head offices in Farnborough, Hampshire.
The Drum has learned that the company informed staff this week about the administration, while the Daily Mail reported that about 200 staff redundancies have already been made following a meeting of sales staff at the firm's head office.
Exact details of the company's fate are uncertain at the moment, but a sale of the distressed business could be on the cards. The Drum confirmed that three potential buyers are thought to be lining up to take on Thomson Directories, but there are no details about who they are at the moment.
Earlier this year, SPG filed a proposal for a 'composition with creditors' at the Court of Turin. This is similar to a CVA and followed news that the parent company reported that its losses had topped €430 million, prompting concern about the business' future.
Thomson Directories has been operating for over 30 years, publishing both a print and online version of its services since launching ThomsonLocal.com in 2003. It publishes 174 editions of its Thomson Local publication a year, distributing them to over 22 million households and businesses around the country.
___________________________________________________________________________
Related information:
Profit from buying a distressed business
View the latest businesses in administration
This is an exceptional opportunity to acquire the assets of a well-established licensed restaurant and bar located in the vibrant North West region.
LEASEHOLD
An exceptional opportunity to acquire a business in Altrincham, Cheshire, providing innovative hardware and software solutions tailored to enhance patient care in the healthcare industry.
Explore the opportunity to acquire two associated companies specialising in refurbishment and interior fit-out services for commercial spaces, both based in the North West.
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.