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Wednesday, 27 October 2010

Administration for Leisure and Gaming plc

The AIM listed company Leisure and Gaming plc will have its shares deleted with effect from the 1st November 2010 following the appointment of administrators. Shares have been suspended since May of this year to give the business time to resolve its cashflow problems. The company has been trying to sell its Betshop (Europe) Group Limited subsidiary but without success.

In a statement on the 11th of October the company said; “ Following demand for repayment by the company's bankers on 6 October 2010, the company is working to see if a solvent solution can be achieved avoiding administration,”

So again it looks like the bank has forced the issue. I do not have any more information on who the bank or the administrators are at the moment, but will let readers know as soon as I can!

Read this blog for breaking stories on businesses in administration.

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