Ten Alps liquidises London publishing business

(ShareCast News) - Ten Alps has called time on its London publishing business but said the rest of its businesses remain unaffected and are trading profitably.The Ten Alps Media division, which is primarily a publishing business based in London based around the historical acquisition of Atalink, has been put into creditors voluntary liquidation after group management failed to turn it around from its persistent losses.Ten Alps other publishing business, Macclesfield-based Ten Alps Communications, was said to be unaffected and after restructuring during the past year that included exits from almost everything apart from its Local Authority Building Control (LABC) publishing business is is now operating profitably."Following this exit, the group is left with its TV and digital divisions, coupled with a much smaller and self-contained publishing unit, all of which are trading profitably," the company said.Shares in Ten Alps, which last week hit an all-time low of 0.35p, were on Monday up 6% on the day to 0.48p.