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.

Notes to Editors:

For further information, please contact:
jcohen@hodgsons.co.uk / 07976 739 125

www.hodgsons.co.uk

Telephone: 0161 969 2023

As the football season is now under way, Harlow Town F.C bravely plays on despite the 10 point deduction as they officially enter into a CVA.
Harlow Town Football Club Limited officially enters into a Company Voluntary Arrangement (CVA)

Hodgsons Chartered Accountants confirm creditors will receive dividends

Harlow Town Football Club Limited officially entered into a Company Voluntary Arrangement (CVA) on Thursday 17 September 2009, appointing David Mond of Hodgsons Chartered Accountants as the Supervisor.

• Despite the grey day, Mond advises this is not a sad day but one which offers a new lease of life to a Club which is clearly loved by it’s town and loyal fans.  Mond comments,
• “Harlow Town F.C has done what was necessary to give the Club a chance to re-emerge and try and rebuild itself in a more stable, financial position with the support of the town.”

With creditors approving the CVA, the petition issued by HMRC will now be dropped and Hodgsons confirm that creditors will receive a dividend on their claims as long as the Club complies with the terms of the CVA.
According to the league rules Harlow F.C should receive a 10 points deduction and will need the support of the community to ensure the clubs survival.
Notes to Editor

For more information call:
Marketing – Jacqueline Cohen, 07976 739 125 / jcohen@hodgsons.co.uk
CVA – Steven Wiseglass, 0161 969 2023 /swiseglass@hodgsons.co.uk
www.hodgsons.co.uk
LD Financial Services, Del O’Sullivan – 01273 900 123 / del@ldfinancialservices.co.uk