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Orbis

  • BY: Andrew Hore |
  • POSTED: 10/01/2008 |

Orbis has appointed Ernst & Young as its administrator after failing to sell its business. 

Orbis counldn’t sell its security business or agree a financial restructuring.

Nominated adviser KPMG had previously given notice of its resignation on 17 March but following the latest announcement it has resigned immediately.

The shares were suspended at 0.75p each. There doesn’t appear any chance of shareholders getting anything.

Update:

The operating business has subsequently been sold to Insite Service Management, which has been formed to acquire businesses in the property protection sector. 

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