Corporate recovery partner Allan Graham, joint administrator for Just Group PLC, yesterday announced the sale of the business and assets of subsidiaries Just Publishing Ltd and Newsstand Publications Ltd, to Toontastic Publishing Ltd.
Graham, who along with Mick McLoughlin, was appointed joint administrator on 9 January this year, said: ‘We are delighted to have achieved the sale to Toontastic and preserved 18 jobs in the process.
‘Negotiations continue as to the sale of the other companies in the Just Group.’
The plug was pulled on the AIM-listed company after the failure of a last ditch fund-raising exercise following the suspension of its shares in November last year.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children