RNS Number : 3896C
  Business Direct Group Plc
  29 August 2008
   


    Business Direct Group plc (AIM: BDG)

    Appointment of Administrators

    The Board of Business Direct Group plc ('Business Direct' or the 'Company') has today appointed David Gilbert and Kim Rayment of  BDO
Stoy Hayward LLP to act as Administrators of the Company.  The Board of Business Direct has requested the London Stock Exchange to suspend
trading in the Company's shares, and suspension will become effective at 7.00 am on Monday 1 September 2008.

    Further to the announcement on 30 July 2008 that the Board was seeking a sale of all or part of the Group to secure its long term
funding, Business Direct announced on 20 August 2008 that expressions of interest had been received from various parties. However, it has
now become apparent that the discussions with regard to the possible sale of parts of the business cannot be completed within a timeframe
during which the Board believes the Company will have sufficient cash and borrowing facilities to continue trading. 

    As a result, the Board of Business Direct has taken advice and has concluded that the Company is no longer in a position to continue its
operations. The Administrators are currently negotiating to sell the business and assets of the Group. 

    Enquiries: 

    Business Direct Group plc                                         01788 821 200
    Martin Wright (Chief Finance Officer)

    Arden Partners (NOMAD and Broker)    
    Steve Douglas                                                          0121 423 8943 

    Bankside Consultants Limited
    Charles Ponsonby                                                     020 7367 8851


    BDO Stoy Hayward     
    Stephanie Aneto                                                       020-7893 3073


This information is provided by RNS
The company news service from the London Stock Exchange
 
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