Barcud Derwen has been put up for sale after directors at the Welsh facilities group concluded that it could not trade through its current “cash-flow difficulties”.

Professional advisory firm Grant Thornton is believed to be offering the business in a pre-pack deal that would see it placed in administration before a new company takes over.

A prospectus has been circulated in the hope of selling the group either as a whole or on a division-by-division basis.

It states: “It is anticipated that given the group’s financial circumstances and the nature of the business, a pre-pack sale will maximise the value for the benefit of creditors as a whole.”

Barcud Derwen owns studio, post and OB companies, and currently provides facilities for coverage of the Welsh National Assembly.

Barcud Derwen group managing director Bryn Roberts said: ‘There are a number of options that we are looking at, none of which we would want to discuss in public. The position of the company going forward should be resolved soon.”

A spokesman for Grant Thornton said that he was unable to confirm or deny any involvement.

 

Topics