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 a rare opportunity to acquire a leading food manufacturer specialising in South East and East Asian cuisine, with a strong foothold in the UK and European markets, supported by robust supply chains and long-standing customer relationships.
This business opportunity offers a well-established company in South East England that specialises in high-quality insulation and renewable solutions, operating across diverse sectors and supported by strong client relationships and a dedicated manag...
An established specialist provider of air conditioning, EV charging, heating solutions, and solar panels is available for acquisition, offering a comprehensive service package and robust customer base across the UK.
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.