Originally Posted by
PEASACAKE
Not £3 million..............
Helihub states in the link above:
The Group has acquired the trade and assets of Specialist from FRP, the appointed administrator for a consideration of £280,000.
Whilst Specialist has been loss-making historically.
It will be interesting how the new owners can turn the company around and become profitable when non of the former owners could.
If you read the release in full it states that whilst they only paid the administrators 280k the additional capital that they're having to commit to fund the sale and keep the business going brings the acquisition cost to around 3 mil.