LeatherXchange ceases trading
In a shock announcement, the company behind the LeatherXchange website and conference yesterday declared the business insolvent and said that it would cease trading with immediate effect.
In a statement, the management and investors of London-based Fastnet Publishing blamed a “series of circumstances” for the decision. They said that while they had done everything in their power to keep the business afloat, they had been given “no choice in the matter.”
In terms of the leatherXchange automotive conference, which was due to be held in the UK next week and is now cancelled, Fastnet said it hoped that delegates who had booked their travel and accommodation would be able to cancel their arrangements. The statement concluded by asking for any enquiries to be referred to the business’s bankruptcy advisors.
As of today, the leatherXchange website showed an image of a plug being pulled from a socket with the caption 'The End'.
