As predicted, the bankrupt UK wholesaler EUK has failed to find a quick buyer for what it is basically an unsustainable basis and bankruptcy administrator Deloitte announced today that “700 employees have today been made redundant.” The business will “continue to operate with a reduced workforce of 375 employees” while they try to extract whatever small value they can from the company. “Whilst we will continue to consider offers for the sale of the business as a going concern, we will now focus on realizing value from the company’s assets.” That will likely increase the efforts to sell Bertram’s–which is […]
