Construction News

16/04/2008

Erinaceous Forced To File For Administration

Erinaceous has announced it has appointed administrators to the company with immediate effect.

The company, providers to the management, maintenance, procurement, design, construction and insurance of property, said it has vigorously explored all of the available strategic options including the possibility of refinancing the Group's borrowings, options for sale and an equity raising.

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However, given the extent of the challenges facing the Group and the current state of the capital markets it has not been possible for it to reach an agreement with its lenders and other creditors. Therefore the Company has been forced to file for administration.

(CD/JM)

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