 |
 |
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|
Deals |
60 |
||
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DEAL ANNOUNCEMENT |
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Dow Schofield Watts LLP has advised the shareholders on their acquisition of Martin Dawes in a pre-pack administration |
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No. |
DATE COMPLETED | PRICE PAID |
HOW SATISFIED |
|
60 |
7 July 2009 |
£8.12million |
Cash |
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DESCRIPTION OF THE BUSINESS AND THE DEAL |
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NORTH West TV rental
company Martin Dawes has been sold to its founder after a pre-pack
administration. The £11m turnover business, which has its head office in
Warrington, was launched in Stockport in the 1970s to tap into the growing
demand for colour TVs. The company has stores across the North West as well as a significant online presence. The
TV rental business will continue to trade. The insolvency deal does not
affect the other businesses in the Martin Dawes Group, including Martin
Dawes Solutions, which provides video conferencing facilities to courts, and
Martin Dawes Systems which provides billing for some of the world’s largest
mobile phones companies. The pre-pack disposal was the best option in these circumstances in terms of saving as many jobs as possible and also maintaining services to the 50,000 rental customers.
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ADVISORS |
ROLE |
||
| Dow Schofield Watts LLP | Newco- Financial Advisor | ||
| Heatons | Newco - Legal Advisor | ||
| Grant Thornton | Co-operative Bank - Advisor | ||
| Addleshaw Goddard | Co-operative Bank- Legal Advisor | ||