Moorfields sell London Data Centre as Provisional Liquidator

Leading insolvency and rescue firm Moorfields Corporate Recovery are delighted to have sold the business and assets of Safehosts (London) Limited.

Safehosts (London) Limited was placed into provisional liquidation on 17th May 2013 owing debts of £2.1m to creditors. Shelley Bullman, partner at Moorfields was appointed provisional liquidator by order of the court.

Moorfields Corporate Recovery successfully traded the business to preserve the value of the company’s assets and goodwill and commenced an accelerated marketing campaign.

Following a comprehensive marketing period Moorfields successfully sold the business in July 2013. 

Shelley Bullman, provisional liquidator said “The IT sector is competitive and current conditions in the economy have meant many companies have had to constantly review prices to remain competitive. Unfortunately Safehosts (London) Limited struggled to grow their business at the anticipated level and as a result fell victim to liquidation. “

Simon Thomas, partner said “Moorfields traded Safehosts at a profit for just under two months preserving the value and goodwill. As a result we secured a sale relatively quickly and in the best interests of the creditors. We wish the new purchasers every success”

Simon Thomas and Shelley Bullman have subsequently been appointed Joint Liquidators of the company.

 

For media enquiries, please contact:
Katie Smith
Tel: +44 (0) 20 7186 1143
Email: ksmith@moorfieldscr.com

 

About Moorfields

            

Moorfields is a leading provider of Corporate Advisory, Restructuring and Insolvency Services.

Moorfields Corporate Recovery LLP is one of the UK's leading independent firms of restructuring and insolvency specialists. Our highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations

 

Moorfields Corporate Recovery is proud to have been awarded Corporate Recovery Firm of the year at the Insolvency and Rescue Awards 2012.

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