The ongoing saga surrounding the future of Soho broadcast facility Pepper took another twist this week as management attempted to put together an assisted buyout of the company, writes Sam Espensen.
Managing director Patrick Holzen and director of editing/company director Shane Warden, in conjunction with DVD production facility The Pavement, are in negotiations to buy Pepper and its half-sister commercials facility Peach, both part of The Big Finish Group.
A previous attempt to buy the two companies by facility M2 fell through after all three companies failed to agree terms for the sale ( Broadcast, 4.4.03).
Big Finish owner Andrew Christie told Broadcastthat the proposed management buyout was going ahead with the "full blessing" of himself and business partner David Pacey. He added that difficult trading conditions in the post industry in recent times have led to his decision to sell Peach and Pepper as going concerns.
It is anticipated that a deal will go through in the next two weeks, with the management team planning to merge the two businesses to offer a more thorough service to both company's existing clients. The two companies will go through controlled receivership before being re-opened. It is not yet known whether any staff will be made redundant as part of the proposed buyout.
Pepper's credits include Daniel Deronda (BBC), Jeffrey Archer - The Truth(BBC), The Lost Prince(BBC), White Teeth(C4), Tipping the Velvet(BBC) and The Gathering Storm(BBC/HBO).