Streetbees files for administration
In a statement, a spokesperson for Streetbees said that advisers had been appointed to oversee the process of agreeing a buyer or an investor, with the company adding that negotiations were “at an advanced stage”.
In the meantime, the company has filed a notice of intention to appoint administrators to provide the time needed to progress discussions.
A notice of intention to appoint administrators is a formal legal document signifying a company’s intention to enter into administration, with the filing temporarily stopping creditor actions against the company.
A spokesperson for Streetbees, said: “Streetbees has engaged advisers to oversee a process aiming to secure investment or sell the business and its assets.
“We have filed a notice of intention to appoint administrators, as a protective measure, to provide the time necessary to progress discussions that are at an advanced stage. We will not comment further on any market speculation.”
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