BusinessBusiness RecoveryBirmingham mint out of circulation

Birmingham mint out of circulation

KPMG partner Mark Orton has been forced to close down The Birmingham Mint after a fruitless eight-week search to find a buyer.

The mint went into administration in March, after the 209 year-old company fell into financial trouble due to cash flow problems following the loss of major contracts. Orton said: ‘In the absence of any other viable bids, we have today concluded a sale of a small number of assets and we will now seek buyers for the remaining assets on site.’

Administrators at RSM Robson Rhodes have been appointed to Andy’s music group after the company collapsed following a slump in sales. The company, which was founded in Bury Street Edmonds by former amateur cricketer Andy Gray in 1969, became a specialist stockist in ancient vinyl records but suffered because of the popularity of the internet. The administrators warned that unless a buyer for the business was found soon, cuts and closures were inevitable.

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