Monday, April 28, 2014
Blog Publisher’s Comments:
The e-mail you see below was received, this morning, from a source in the UK.
“Administration” in the UK is pretty much the same thing, if not exactly the same thing, as “Chapter 11 Bankruptcy” in the US. The UK term “pre-pack sale” is pretty much the same as the term “prepackaged sale”. So, Service Point UK has been put into Administration, and it sounds like that was done to set up the business to be sold easily and very quickly.
It's been confirmed that Service Point UK was put into administration on Friday. Heard about it on Friday night but only got official confirmation just now.
It sounds like it will be a pre-pack sale, but that's still to be confirmed.
Here's what I have thus far:
Will be interesting if Paragon Group does buy it, seems to be a new area for them to get into.
This is the company, the likely purchaser of Service Point UK, mentioned in the article:
I’d like to compliment the author of the article in PrintWeek; excellent article, very well written.
Posted by Joel Salus at 5:32 AM