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Investment Forum - Connaught

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raysor, Feb 04 2012, 20:00
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Started by davids355 Sep 08 2010, 11:38
davids355
Moderator, Power Poster

Posts: 155
Sep 08 2010, 11:38
Did I hear it correctly that Connaught have now gone into administration?


raysor
Moderator, Team

Posts: 796
Sep 08 2010, 12:13
Well parts of it have. That is the main contractor part and subsidiary Connaught Partnerships. Other subsidiaries (compliance and environmental will trade as usual). The administrators, KPMG, will run the company. Their banks obviously pulled the plug (the year end net debt was £120m.
Just read that Artemis the hedge fund shorted Connaught a year ago at about £4 so they made a packet.
Amongst others, Mears Group(MER) should be a beneficiary of Connaught's demise.


davids355
Moderator, Power Poster

Posts: 155
Sep 12 2010, 18:19
Brian your post has been deleted , it has nothing to do with this thread and besides, we havnt made shareworld for you to promote your own site(s). If you want to post about a random subject start a new thread in general discussion, and don't post links please, especially when they're mal-formed and lead to a 404.


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