Minorplanet Are To Sell Their UK Operations |
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May 26, 2010 Tracking News |
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There has been a lot of news surrounding Minorplanet and talk along while back was that they were in trouble. It has recently been released that Minorplanet are now has obtained a adjournment of a court hearing in order to execute a winding up petition and give Minorplanet time to sell its UK division.
It appears discussions are currently in place with potential buyers and once any movement forward has been made another announcement will be released.
It is believed that Minorplanet have the funds available to meet immediate financial needs that they have and can have the opportunity to trade during this period. A newspaper recently reported that Minorplanet had to sell its business because HMRC had called an end to their tax liabilities.
It is thought that Minorplanet were paying the HM Revenue and customs under a new payment plan that was in fact launched in November of 2008. It was to help companies pay such debts back and relieve some cash flow issues. If Minorplanet can sell their UK arm of the company it could potentially settle its two million pound bill that they are thought to have.
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