Mercer & Hole appointed as joint administrators of Cinram Logistics UK Limited (“Cinram”)
Cinram suffered the loss of a major contract at the end of June and has been reviewing its trading position in light of the reduced revenue. The Corporate Restructuring team (Steve Smith, Chris Laughton & Henry Page) at Mercer & Hole have been working with the directors to prevent the closure of the site at Aylesbury and save the jobs of those employees who remained with Cinram since the end of June. It is expected that operations will continue in administration while negotiations with potential purchasers of the business continue.
Cinram, a distribution and logistics company specialising in the Home Entertainment and Media industry, has over 40 years of experience in the sector and a reputation for excellent service amongst its clients.
Steve Smith commented "The joint administrators, assisted by Cinram’s dedicated management team, intend to continue to service client contracts following our appointment as administrators while a sale of the business remains possible. The sale of the business will be in the interests of all those connected to Cinram, and will provide continuity of service for the company’s clients."
Date: 10th August, 2017
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