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Thursday, 1 July 2010

Vantis in Pre-Pack Administration

The news that Vantis entered Administration was not a suprise yesterday.

I am sure many shareholders will be bitter about their loss - the company was valued at £110m at it's peak.

A number of buy outs seem to have been arranged by FTI before the administration, this pre-pack method will upset many creditors too. RSM Tenon pick up a major part for £4m rising to £6.8m we understand. Other members of the insolvency team at Vantis have bought themselves out of the mess.

We wonder how they will get new work, as their failure as Vantis hardly engenders confidence? Would Barclays, as the Vantis lead bank, give them any work?

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