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© Vertu Business | July 24, 2017

Vertu in liquidation

Vertu Corporation Limited (VCL) has - with the issuing of winding up orders - been forced into compulsory liquidation. Almost 200 jobs will be lost.
A spokesman for Vertu is cited in a The Telegraph article in saying: “Our best efforts to achieve a pre-pack administration have failed because the financial requirements specified within the negotiations went beyond the point where the new company had a chance of financial viability. No other part of the group is affected by this development.”

Murat Hakan Uzan, who owns the Vertu brand, had sought to buy the company out of administration in a pre-packaged deal. With a GBP 128 million accounting deficit and a GBP 1.9 million offer from Mr Uzan, th court did not agree to the terms of the deal, the article goes on in saying.
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December 12 2018 10:05 pm V11.10.12-2