The following note was received at 11:32AM 13th April 2012 and allowed 28 MINUTES for all potential bidders to not only express interest but also deposit their cash, otherwise deal already done.
It will be interesting in due course to find out publicly whose these lucky winners might be.
Hopefully those responsible are confident that given all the information at their disposal that they have achieved the best possible outcome for creditors and the wider community.
Dear SirsRe: Nextgenus UK CIC / Fibrestream LimitedI was approached yesterday, to act as administrator of the above companies. The appointment is likely to happen this morning.Prior to my involvement, my intended joint appointee, Fran Devine, conducted a limited marketing exercise of the business and the various networks.Mrs Devine received the following offers. We understand that the offers are from unconnected third parties.
Round 1 10 April 2012 Hull, Ashby Digby & North Yorkshire £12,500 Hull & Ashby Digby £28,000 £12,500 Ashby Digby £10,000 £2,500 Hull only £6,050 Cumbria £8,000 North Yorkshire £6,000In order to give interested parties sufficient time, a second round of offers were invited. The best combination of offers received were as follows:· Hull & Ashby - Interested party 1 - £18,000 plus £12,000 over 6 months
· Cumbria - Interested party 2 - £6,000 plus £2000 over 6 months
· North Yorkshire - Interested party 3 - £6,000
Ms Devine has been in contact with the service providers whom inform her that they intend to withdraw their service today. Consequently, it is imperative any sale occurs today as continuity of service provision cannot be guaranteed and the value in the business will be severely eroded.If any party objects to the proposed sales or is prepared to make an improved offer they must submit that offer by return by 12 pm today and also transfer funds into my solicitor’s client account by 12 pm.I appreciate it is short notice but our primary duty as administrators are to maximise recoveries for the Companies’ creditors.Kind regardsJohn ButlerJohn ButlerPartnerRedman Nichols Butler