Reuters: Bankruptcy News: UPDATE 1-Marketing company Adventis to consider insolvency

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Marketing company Adventis to consider insolvency Jun 13th 2012, 13:28 Wed Jun 13, 2012 9:28am EDT June 13 (Reuters) - UK-based marketing and advertising agency Adventis Group Plc said it would look at insolvency as proceeds from a planned sale of its technology business may not be enough to pay its creditors. Shares in the company, which provides marketing and advertising services to the property and technology industries, lost almost all their value on Wednesday on the news. Adventis, which was looking to sell its technology division for sometime now, said even if the conditional contracts for the business are exchanged with the highest bidder, the net proceeds would fall short of the company's liabilities. The company, which has been selling off assets to repay the 2.2 million pounds ($3.4 million) debt it owes to banks, said its directors consider that it was probable that there is no value in the company's ordinary share capital.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions