Kings Business Transfer, the North West business broker for the leisure sector, has been placed into administration with its parent company the AIM-listed Dipford Group. MCR, formally Menzies Corporate Restructuring, has been appointed as the administrators. The company is currently continuing to trade on a limited basis whilst a purchaser is sought for the business. David Whitehouse, partner for MCR, said: "The administrators are continuing to trade the business of Dipford Group in administration, this includes the Kings trading division of the company. "The administrators have received four offers for the business and assets of the company (or various parts of the business) as a going concern. These are currently being considered and it is hoped that a sale will be completed by the end of this week." Shares in the group were suspended on 6 June pending clarification of the company’s financial position. Dipford’s subsidiary Bruce & Co, the Edinburgh-based property agents specialising in the licensed sector, will continue to trade as a separate legal entity. Kings, which was based in Bury in Manchester, specialised in the sale and purchase of restaurants, pubs, fast food outlets, as well as other retail outlets.

Topics