Administrators pull down shutters on security blinds business

ADMINISTRATORS have been called in to AIM-listed security blinds business Eruma.

Antony Batty and Stephen Evans, of Antony Batty & Co, were appointed joint administrators to Eruma and its subsidiary Security Blinds Ltd.

Shareholders will be “updated as so n as possible”, the administrators said in a statement to the stock exchange.

Shares in the company were suspended on this morning. Its shares were trading at 1.6p, valuing the company at £0.4m. It had traded at 10.25p in its 52-week high.

Eruma was incorporated in 2005. Its other subsidiary operates as Illuminex, which focuses on high-tech solid state lighting systems.

Antony Batty formed his firm in 1997, and has specialised in busienss recovery and corporate finance. He also manages Cashflowfinance alongside Michael Barker.

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