Lenders take Mouchel in pre-pack admin

28 Aug 2012

Shareholders in UK infrastructure and business services group Mouchel’s have been left empty-handed after they rejected a proposed restructuring of the company. The company’s administrator KPMG will now sell the firm to its lenders.

Barclays, Lloyds Banking Group and Royal Bank of Scotland — together with the group’s management team — have formed a new company, MRBL Limited, which has acquired Mouchel in return for writing off some of their loans.

Earlier in August, the banks had agreed to write down some £87m ...

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