A CONSORTIUM led by Steve Milne has acquired post-production effects and editing specialists Molinare in a pre-pack administration deal.
The pre-pack sale of Molinare to former owner Steve Milne via his new venture British Film Company was handled by business recovery specialists Springfields.
Molinare, involved with the production of cinema blockbusters such as Ridley Scott’s Prometheus, was put into administration on 7 June by previous owner Century Communications.
Situl Raithatha, administrator from Springfields, said the sale delivered the best outcome for employees and customers alike.
“The purchase also included two leasehold premises and secures the future of a very well-known brand in London, delivering specialist services to the film and broadcasting industry,” Raithath said.
Manufacturer DMG Steelworkers has been sold out of administration in a pre-pack deal by insolvency and restructuring firm CVR Global
By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms
Lee De’ath and Richard Toone, partners at CVR Global, were appointed joint-administrators of Lexden Centre (Oxford) Limited, trading as Colchester English Study Centre (CESC), on 29 June 2016
Peter Saville, Ryan Grant and Anne O’Keefe of AlixPartners will now become the supervisors of the CVA and monitor the implementation of the proposal