Ten more days for Pittards to find a buyer before administrators move in
Leather and finished leather products group Pittards has issued an update on its efforts to find a buyer for the business and its assets.
It said on August 8 that it had formally filed a notice of intention to appoint administrators if it could not find a buyer. This gave Pittards protection from its creditors while efforts to find a buyer continued.
No buyer has come forward yet and, on August 21, Pittards filed a second notice of intention to appoint administrators, giving the group a further 10 days to find a buyer.
This means that if, at the end of the 10-day period, it has still found no buyer for the business and its assets, Pittards will place the process for finding new owners into the hands of administrators and the administrators will take up the search for a buyer.
