News blog

Conival

  • BY: Andrew Hore |
  • POSTED: 04/02/2009 |

Conival, which sells food products under the Marco Pierre White brand, says that it is ceasing trading and management is looking to liquidate the company.

The unexpected departure of chief executive Jeremy Schwartz to take up a new job sparked a secured creditor to enforce its security. This means that the unnamed creditor has taken control of Conival’s key assets.

The shares had already been suspended at 0.075p each on 11 December 2008. That valued Conival at £320,000.

Conival joined Aim on 11 August 2004 at 3p a share. A £2.92m placing at 10p a share in January 2005 provided working capital for the acquisition of Portfolio Products.

Portfolio cost £11m in shares and held the rights to celebrity food brands and products from celebrity chefs, such as Marco Pierre White and Jean Christophe Novelli.

Marco Pierre White sold his 23m Conival shares in July 2008 just before his ITV series ‘Marco’s Great British Feast’ was broadcast. That proved a wise move.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds