City A.M. sale details revealed
Health and beauty group THG paid £1.5m for City A.M. in last month’s pre-pack sale, and also had to pick up its July wages bill as the newspaper came close to running out of cash.
Source: printweek.com
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Bespoke printing firm sold in pre-pack
Colourpoint Litho has been sold in a pre-pack deal to a related party, casting off its pandemic-related liabilities in the process.
Source: printweek.com
Gardners admin report reveals large sums owed to creditors
Documents filed by the administrators of wide-format printer Gardners have revealed that the company owed nearly £5.5m to its creditors.
Source: printweek.com
Elaghmore adds Concept Group to Hexcite
UK private equity fund Elaghmore has expanded its Hexcite Group of businesses after acquiring signage specialist Concept Group in a pre-pack deal.
Source: printweek.com
Pre-packaged administration sales to face greater scrutiny as new regulations come into effect | Bryan Cave Leighton Paisner
Summary Regulations”) came into effect on 30 April 2021. The Regulations contain numerous features which mean that pre-packaged administration sales (specifically to connected persons) will begin to face a greater level of independent scrutiny. Purpose The primary purpose of the Regulations is to prevent the administrator of a company from effecting: a disposal, hiring out, or sale of what is, in the administrator’s opinion, all or a substantial part of that company’s business or assets (including a disposal effected by a series of transactions); to one or more connected persons; wi...
Source: jdsupra.com