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Telecommunication operators Cloud 9 have been under financial pressure since October 2009 when their shareholder withdrew funding. This resulted in the holding company, Cloud 9 Mobile Communications Ltd, entering into administration on 17 December 2009, with Simon Thomas & Fred Satow of Moorfields CR appointed as Joint Administrators. It has been an up hill struggle since then to preserve the businesses of the remaining group subsidiaries including Wire 9 Telecom Ltd, Cloud 9 Mobile Communication (Wholesale Services) Ltd and Cloud 9 (Gibraltar) Ltd. A number of parties expressed interest, however due, to large supplier arrears, it was proving extremely difficult to complete a sale. On 19 February 2010, Moorfields CR completed a sale of the business and assets of Wire 9 and Wholesale Services ,through insolvency procedures, to an unconnected party. This sale may save a number of jobs and will provides customers with a secure business going forward. Cloud 9 Gibraltar remains the only subsidiary to be realised. The company holds licences to provide 3G and GSM services, on 36 radio frequencies, in Gibraltar. It has £423k placed in escrow, in respect of purpose built radio infrastructure equipment, which is awaiting delivery and installation at antennae sites. To date, the company has had £1.3 million worth of investments in respeact of research and development costs, and has business and marketing plans in place, ready for roll-out of services by October 2010. A sales teaser is available with further information to be provided following completion of a non-disclosure agreement. The deadline for offers is Friday 5th March 2010 Please contact Arron Kendall on 0208 528 1715 or akendall@moorfieldscr.com for more information.

The Holt company – originally set up by Jack Holt and Beecher Moore in 1945 - has gone into administration. From making Merlin Rockets and Cadets, the pair branched out into producing fittings with Glen and Tony Allen, forming Holt-Allen in the 1950s. The company reigned supreme in dinghy fittings for many years, but a recent move by Beecher Moore’s son, Chadwick, to manufacture fittings in Brazil sparked a split with the Allen family. While the Allen side has benefited and moved on, the Holt side seems to have faltered. The company entered into administration on February 23, 2010, with Simon Thomas and Fred Satow of Moorfields Corporate Recovery LLP appointed as Joint Administrators. ‘The company’s having cashflow problems,’ said a Moorfield’s spokesman. ‘Essentially we’ve put it into administration and we’re trading it on a normal basis, so all customers are receiving goods as per normal and we’re looking to find a purchaser in the next four or five days to turn it around quickly.’ Any enquiries in relation to the business should be directed to Arron Kendall or Matthew Parr of Moorfields on 0208 528 1090 Moorfields Corporate Recovery LLP is a leading provider of Corporate Advisory, Restructuring and Recovery services. Our highly skilled teams provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.

The London based firm of Corporate Recovery specialists have unveiled a new brand identity in support of their growth strategy. With the re-brand initiatives Moorfields expects to reinforce their confident, market leading position and their consistently flexible attitude to the ever-changing economy. The re-brand includes an exciting new office, logo and website which will allow Moorfields to break away from heritage brand RSM Bentley Jennison to establish itself in the market. The exciting new chapter reflects the companies commitment to delivering specialist professional services and pro-active solutions in restructuring, turnaround and insolvency. The new logo and website incorporates strong visual style, with red and black blocks depicting changes in financial fortunes, the use of imagery was chosen to reflect the fast pace and ever changing economy. The website aims to guide individuals, lenders, creditors and professionals through the corporate advisory, recovery and restructuring services available. Moorfields believes that the re-brand will help them become a substantial force in the market place. Earlier this year the firm were appointed administrators over the Cardale Group Limited(the U.K.’s largest Garage Door Manufacturer) where they successfully sold the company saving over 400 jobs. Other recent assignments include Moorgate Taverns and Torbay Hotels. Phil Smith, Partner said: We recognized the importance of establishing ourselves independently in the market and were keen that our image reflected our attitude and culture. Our focus remains on individual quality solutions for businesses whilst challenging the markets traditional firms approach to recovery. The new brand is a major step forward for us in supporting our growth strategy and achieving our goals of becoming a leading national firm. Simon Thomas, Partner said: This is an exciting time for us and our clients and will improve our presence in the marketplace. Our highly skilled team provide high quality advice based on experience and proven success. Moorfields Corporate Recovery LLP is a leading provider of Corporate Advisory, Restructuring and Recovery services. Our highly skilled teams provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.

"Hertfordshire and South Coast pub chain goes into administration following tough market conditions. Simon Thomas and Fred Satow of Moorfields Corporate Recovery LLP (formerly RSM Bentley Jennison & Co LLP) have been appointed administrators to Moorgate Taverns, the pub operators with approximately ten freehold public houses in their portfolio. The properties owned by the company are largely based in Hertfordshire and along the South coast, with a mix of managed and tenanted houses.??A statement by the administrators has said: ""As a result of the general economic environment, Moorgate has been trading at a loss after finance costs and, due to the downturn in pub values, has been unable to fund the ongoing losses. ""Simon Thomas, joint administrator said: ""The business will continue to trade as usual whilst the best strategy is assessed in order to maximise the potential return for the creditors."" Moorgate Taverns is a wholly owned subsidiary of ‘Pubs n Bars’ which will continue to trade as normal.??Moorfields has been advising the company's bank, Clydesdale for some months the Publican reported. The value of the pubs is estimated to be worth £8m in the year ending December 21 2008, with debts owed estimated to be £7m. Moorfields Corporate Recovery LLP is a leading provider of Corporate Advisory, Restructuring and Recovery services. Our highly skilled teams provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations."

Moorfields Corporate Recovery LLP (formerly RSM Bentley Jennison & Co LLP) is pleased to announce the sale of Cardale Doors Group, for an undisclosed sum, on 18 August preserving over 400 jobs. Simon Thomas and Fred Satow, partners in Moorfields Corporate Recovery LLP,were appointed Joint Administrators over the principal operating companies of the Cardale Group Limited either wholly or partially owned by it, on 14 July 2009. ??The combined business, which manufactures 45% of garage doors in the UK, comprises Wessex Garage Doors Ltd, Cardale Doors Ltd and Bowburn Limited, has been sold as a going concern. Over 400 jobs are preserved at sites including Luton, Verwood, Dorset, Brackley, Scunthorpe, Bowburn and Durham. Simon Thomas, Joint Administrator said, We are extremely pleased to have been successful in selling the businesses as a going concern, which is in the employees; best interests and maximises the potential return for the creditors, ultimately also safeguarding the jobs of over 400 workers. Nick Sibley of BRP Group said: I am delighted to have secured a future for these great brands and look forward to building upon the great traditions these companies have for outstanding products and services. BRP Group (Building Related Products) is a newly formed company which will work to extend its portfolio of products to provide its customers with ever increasing opportunities for profitable sales. Moorfields Corporate Recovery LLP is a leading provider of Corporate Advisory, Restructuring and Recovery services. Our highly skilled teams provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.