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17th June 2011
The Licence Factory in Administration
Main funders of troubled importer and wholesaler, The Licence Factory, have called in RSM Tenon as administrators.
The Licence Factory, whose parent company, Marlwood PLC, also used to own clearance specialist Brennan Atkinson, was floated on the Cayman Islands Stock Exchange in 2009 although its shares have been suspended since April this year.
The Licence Factory specialises in the import of brand licenced products such as watches and fashion accessories. The clearance business, Brennan Atkinson, was sold back to its founder Martin Abramson last year in a £2.5m deal.
It will remain to be seen whether the troubles at The Licence Factory and Marlwood will have a knock on effect at Brennan Atkinson as they are still very closely linked through both a three year consultancy deal that was a condition of Mr Abramson repurchasing the company and his control of the ultimate holding company, Hannah Martin Holdings.
Marlwood made a pre-tax loss of £1.36 million on revenues of £3.04 million in 2010.
David Heasman © 2011 - The Wholesaler (UK) Ltd
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