The Company entered Administration on 30 May 2017 and A J Davison and C P Dempster of Ernst & Young LLP (‘EY’), Atria One, 144 Morrison Street, Edinburgh, EH3 8EX were appointed to act as Joint Administrators. The appointment was made by the Company’s Directors under the provisions of paragraph 22(2) of Schedule B1 to the Insolvency Act 1986. Due to A J Davison’s retiral from EY, Fiona Livingstone Taylor of EY was appointed as a substitute office holder by the Court of Session on 14 December 2017.
On 30 May 2017 we completed a sale of part of the Company’s business and assets to idverde Limited (‘idv’) and 251 employees of the Company transferred to idv as part of the sale.
It was not appropriate to trade the Company’s remaining business and offer it for sale as a going concern following the Administration appointment. Trading accordingly ceased on 30 May 2017 and the majority of employees were made redundant at that point. A limited number of employees were retained by the Administrators for a short period to assist with fulfilling the Administrators’ statutory duties.
Further details regarding the conduct of the Administration are provided in the Joint Administrators’ Statement of Proposals and subsequent progress reports, which are made available to you below.
Should you wish to intimate a claim against the Company for any sums due as at 30 May 2017, please complete the Statement of Claim by Creditor form and return the completed form, together with all relevant documentation in support of the claim, to Laura Jones at the address below.
Ernst & Young LLP
G1
5 George Square
Glasgow
G2 1DY
United Kingdom
F L Taylor
Joint Administrator
