News blog

Consolidated Vending

  • BY: Andrew Hore |
  • POSTED: 15/09/2008 |

Consolidated Vending has appointed Tenon as its administrator.

Management says that the company will not be able to pay certain liabilities as they become due.

Blomfield Corporate Finance has resigned as nominated adviser and SVS Securities has resigned as Broker.

Consolidated Vending operates photobooths and children’s rides. It raised £1.05m at 3p a share, when it joined Aim on 13 December 2006.

The shares were suspended at 3.15pm at 0.125p.

Consolidated had 7% of the UK photobooth market and 4% of the children’s rides market.

The company had problems re-siting its photobooths after a contract with the Post Office ended. It is up against Photo-Me International, which dominates the market and dictates market terms.

Consolidated reported its 2007 figures at the end of June and described its first year on Aim as “challenging and difficult”. The loss before tax was £1.16m. Net debt was £380,000 at that point but if the losses continued at the same level those borrowings would have increased sharply.

© 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 This material may not be published, broadcast, rewritten or redistributed.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