OCT 00] FINELIST GROUP NEWS
Finelist Calls In The Receivers
at a Stratford-based motor components firm face an uncertain
future after receivers were called in to take control of its
new buyer is being sought for Finelist after it was put into
receivership last week.
than 300 staff work at the headquarters in Birmingham Road.
the company employs more than 5,500 people in 600 different
places. It was bought by a French firm earlier this year. Its
subsidiaries include Motorworld.
had threatened to move out of Stratford after complaining that
efforts to find a new headquarters were taking too long because
of slow negotiations with the district council.
originally signed up to buy a slice of the £1.6m Shottery Brook
Business Park, but then pulled out.
then a company called Color Estates has bought the entire site
District Council Economic Development Manager Phil Homer said
the site was re-marketed once Finelist pulled out, and they have
not been involved since.
said that work was nearly complete on building the road to link
the new business park.
administrative receivers have been brought in from Ernst &
Young to try and solve the Finelist crisis.
Bloom, Corporate Restructuring Partner said:
have already received a number of expressions of interest for
the business which we are trading as a going concern.
are very confident of finding a buyer for Finelist plc and we
are currently looking at the most effective way of packaging
it up for a sale.”