The group – which until recently comprised Mick Fleetwood, one of the founders of legendary rock and roll band Fleetwood Mac – on its board, is a holding company for a raft of music business interests.
GT is also been appointed to conduct the affairs of two of its subsidiaries, Point Entertainment and Optical Disc Management.
The group owns the rights to over 100,000 master recordings by a variety of artists and includes the rights to the soon to be released Euro 2000 album and the Irish Tenors.
Mike Jervis of Grant Thornton, said: ‘There are major liabilities within the group which operate successfully commercially.
‘This receivership wins the group a breathing space from its creditors, allowing us to analyse the situation and present a way forward that offers the optimum solution to its creditors, 80 employees and the constituent parts of the company.’
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