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SFP finds buyer for assets of Audio Engineering Limited PDF Print E-mail
Monday, 10 August 2015

Nationwide insolvency practitioners SFP, has successfully sold the assets of a well-established 50-year old manufacturer of sound and radio microphone equipment to the broadcast industry.

Issues stemmed from Audio Engineering Limited’s inability to implement a new line of digital systems, and have been exacerbated by an increase in worldwide competition and product innovation. As a direct result, turnover has been steadily declining, and recently reached an unsustainable level.
 
After it was determined additional funding would not improve the London-based company’s market position, the company ceased trading and the Directors entered into a Creditor’s Voluntary Liquidation and appointed SFP as Liquidators on 15th June.
 
SFP’s Daniel Plant – licensed member of the Insolvency Practitioners’ Association – conducted a sale of the assets to Micronwireless Limited: “To sell the assets of Audio Engineering is very important, as it determines a positive potential for future trading,” Daniel says.

(Source - SFP Press Release)
 

 

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