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Discover Leisure

  • BY: Andrew Hore |
  • POSTED: 14/10/2011 |

Caravan and motor home retailer Discover Leisure as appointed KPMG as administrator.

Management has reduced debt by selling land assets but weak trading means that Discover is still short of working capital. Management tried various ways to raise more cash but this will not be achieved in the foreseeable future. That means the company is no longer a going concern.

Prior to the appointment of KPMG trading in the shares of Discover had been suspended at 0.25p, which values the company at just under £400,000.

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