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Elverys management bid saves 700 jobs

Monday, March 31 14:10:12

The Examiner to Elvery Sports, Mr Simon Coyle of Mazars, has today announced that the management team, led by Patrick Rowland, has been approved as the preferred investor in the Company.

This development should secure the future of the business and that of its 700 plus employees.

The Examiner's next task is to formulate proposals for a Scheme of Arrangement which must be presented to the creditors for approval, with a view to having those proposals sanctioned by the High Court to ensure the survival of the company as a going concern.