Ideal World, the TV shopping channel, has suspended its broadcasts and its website operations. This follows a harried scramble by Kroll to find a buyer for the business which was until recently, headed by Hamish Morjaria who had acquired part of it from Aurelius after the German investment firm had sold off ‘Create & Craft’ and Ideal’s Freeview channel. We have learned that Morjaria exited the business in February leaving 250 employees to ‘battle on’. There is no information regarding the status of outstanding customer orders and whether they will be fulfilled, nor of payments outstanding to its retail ‘partners’.
Sports Direct Retail has an unsatisfied charge over Ideal World’s assets. We await word on further developments.
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