Acting as administrators to Just Group Plc, KPMG annouced last week that it had sold Just Publishing Ltd and Newsstand Publications Ltd, along with the Butt Ugly Martians, Rugrats and Jellikins magazines, to Toontastic Publishing Ltd.
But the intellectual property rights – including film and video rights – to the Butt Uglies have been ringfenced and are still to be sold by the administrators.
The price of the rights is unknown but KPMG has been working hard with an advertising campaign to sell them on.
Allan Graham 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 companise in the Just Group.’
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