PRESS RELEASE: 5 FEBRUARY 2010
Yesterday, Thursday 4 February, Steven Wiseglass, Insolvency Practitioner of Hodgsons was appointed as administrator to Divalimit Limited (“Divalimit”).
Divalimit has a number of retail brands including, Texstyle World, FADS and Leveys.
The company was an MBO of the struggling retail chain who purchased the above brands from a previous administration in December 2008. Currently affected by this administration are sixteen national trading stores.
Administrator Steven Wiseglass, of Hodgsons, comments;
“We are working closely with the team at Divalimit and hope to find a solution which could save at least some of the stores and jobs. The business has fought against the recession and unfortunately been unable to survive through the worst of it. We are hoping to find a buyer who will want to continue to trade the business but, under current conditions, this could be challenging.”
The company will continue to trade for the time being and the administrator welcomes any interest from potential buyers.
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