TV shopping business Ideal World is now in administration. All staff have been sent home and await news as to whether there is a buyer in sight for some or all of the business’ remaining IP and assets, and for the prospect of re-employment.
Michael Lennon, managing director of restructuring at Kroll commented that overall trading at the business was not sufficient for the business to continue in its present format.
The majority of staff have been made redundant and the administrators say that they will work with the remaining employees to complete and orderly wind-down of the business, and that customer orders will be fulfilled where possible.
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