Mon, 10 Sep 2012 | BUSINESS NEWS
The Yellow Pages appear to be struggling to keep on top of its game as its creditors are looking to seize control of the publisher.
Hibu – formerly known as Yell - currently has heavy debts and is finding it difficult to get to grips with the matter. Its 13,000 employees publish online listings around the world in Britain, Spain, North and South America.
Unfortunately, its efforts to grow globally have been hampered by the growth of search engines, which people are increasingly turning to as an alternative. Furthermore, the company’s recent spending spree resulted in additional debts that it is now struggling to handle.
More than 400 banks and bond investors have started work on financial restructuring plans to wipe out a large chunk of the debts and see the business’s lenders take over.
Its debts total about £2.2 billion – roughly 100 times more than the firm’s stock market value.
The Royal Bank of Scotland, Goldman Sachs and Deutsche Bank are thought to be the leading creditors and are in discussions to appoint Houlihan Lokey, a specialist American restructuring firm, to prepare a blueprint for a debt-to-equity swap.
At the moment, the company’s future remains up in the air. It is hoped that a solution will be found through the restructuring, but shareholders are likely to be wiped out and the firm could be forced to consider other options, such as an administration, if the changes do not go to plan.
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
Established respected business, holding valuable private and public sector client base, there being a number of key clients, some paying a retainer and from which regular repeat business is received ensuring a substantial pipeline figure.
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
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
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.