Hat Pin has appointed administrators.
Vantis has been appointed administrators. The recruitment company’s subsidiaries are not in administration. They are continuing to trade.
The announcement revealed that Bob Morton. Who became chairman on 4 March, resigned on 2 May.
The administrators talk about reviewing the company’s assets “with a view to realising value in due course for the company’s creditors”. That suggests that there may not be much chance of the shareholders getting anything. They will just have to wait and see.
Hat Pin has sold part of its financial recruitment business to fellow Aim-quoted recruitment company Hexagon Human Capital in April.
Hat Pin shares were suspended on 8 February at 34.25p, valuing the company at £10.66m.
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