Tue, 20 Jul 2010 | ADMINISTRATION
An urgent search has been launched for a buyer for leading performance marketing network, Deal Group Media UK Ltd (DGM), after the company collapsed into administration.
Financial services firm, RSM Tenon, was appointed as administrator. A spokesman for Devonshire-registered DGM, Dan Carter, confirmed the appointment, adding that all hands were on deck to maintain the company.
"DGM officially fell into administration on Tuesday 13 July at 11am," he said. "The administrators are working on trying to sell the company so we are not officially closing the door."
DGM is an intermediary company that passes commission from retailers on to cashback sites, which they then give to customers if they click through to that store via the link on a specialist moneyback site.
Some of the cashback sites are anticipating losses from the company and are informing their customers of the situation. One of the companies, Quidco emailed potentially affected members on Friday saying it will not pay out to anyone who has made a recent purchase from a retailer who used the DGM network, if it hasn't received the cash. It has since said the situation is under review as it tries to establish DGM's situation.
DGM counts the Financial Times, Orange and P&O Ferries among its 192 clients. Trading will continue while a buyer is sought, but industry experts have predicted that most, if not all, cashback sites will stop using DGM.
Further information on the process is expected on Wednesday.
This represents a unique opportunity to acquire a profitable assisted nursing/living facility in the serene region of Yorkshire.
FREEHOLD
This is an opportunity to acquire a well-established company valued at over a million pounds, supported by a dedicated and hardworking team.
Opportunity to acquire a well-established dental practice in a prime North West London location, ideal for expanding your portfolio or stepping into practice ownership.
|
21
|
|
Apr
|
Sybron undergoes management buyout | MBO/MBI
Sybron, a supplier of cleaning, hygiene and catering product...
|
21
|
|
Apr
|
Construction group Gilbert-Ash moves to employee ownership | BUSINESS SALE
Construction and fit-out company Gilbert-Ash has transitione...
|
21
|
|
Apr
|
Cargostore Worldwide makes its first ever acquisition in 30-year history | BUSINESS SALE
Cargostore Worldwide, a leading global supplier of DNV and I...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.