Update Re admin30 Mar 2010 05:12
Deloitte appointed Administrators to Jarvis Plc
Mar 29 2010
Nick Edwards, Neville Kahn, Phil Bowers and Ian Brown, partners in Deloitte, have been appointed as Joint Administrators of Jarvis Plc and its subsidiary Jarvis Accommodation Services Ltd (the Companies), following an application to Court by the Directors.
The Administrators are in the process of performing a rapid assessment of the financial position of the Companies, and commencing discussions with key stakeholders in order to formulate a strategy to stabilise the business.
Nick Edwards, Deloitte partner and Joint Administrator, commented: Unfortunately, Jarvis Plc reached a position where a substantial funding gap meant they were unable to continue trading. Our immediate priority will be to work with stakeholders to stabilise the business while we identify which parts of the business we can continue to trade and seek buyers for as going concerns.