Thu, 15 Aug 2013 | ADMINISTRATION
Thomson Directories is understood to have entered administration with a number of redundancies already made. Grant Thornton is thought to have been appointed to handle the administration.
The company is a UK subsidiary of Italian publisher, Seat Pagine Gialle (SPG), and operates out of head offices in Farnborough, Hampshire.
The Drum has learned that the company informed staff this week about the administration, while the Daily Mail reported that about 200 staff redundancies have already been made following a meeting of sales staff at the firm's head office.
Exact details of the company's fate are uncertain at the moment, but a sale of the distressed business could be on the cards. The Drum confirmed that three potential buyers are thought to be lining up to take on Thomson Directories, but there are no details about who they are at the moment.
Earlier this year, SPG filed a proposal for a 'composition with creditors' at the Court of Turin. This is similar to a CVA and followed news that the parent company reported that its losses had topped €430 million, prompting concern about the business' future.
Thomson Directories has been operating for over 30 years, publishing both a print and online version of its services since launching ThomsonLocal.com in 2003. It publishes 174 editions of its Thomson Local publication a year, distributing them to over 22 million households and businesses around the country.
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