Brief: Koovs Says Business And Assets Of Co Sold To SGIK 3 Investments

Future Lifestyle Fashions

10/12/2019 18:12

Dec 10 (Reuters) - Koovs PLC  KOOV.L :
    * APPOINTMENT OF ADMINISTRATORS, AGREED SALE TO SGIK 3
INVESTMENTS
LIMITED
    * GEOFF ROWLEY AND JASON BAKER, PARTNERS AT SPECIALIST
BUSINESS
ADVISORY FIRM FRP ADVISORY, APPOINTED AS JOINT ADMINISTRATORS
    * COMPETITIVE SALE PROCESS CONDUCTED OVER PAST MONTH IN
EFFORT TO
CONTINUE BUSINESS AS A GOING CONCERN, BUT NO VIABLE OFFERS WERE
RECEIVED
    * FOLLOWING ADMINISTRATOR APPOINTMENT, BUSINESS AND ASSETS
OF CO
SOLD TO SGIK 3 INVESTMENTS, A CORPORATE ENTITY WHOLLY OWNED BY
WAHEED ALLII
    * THERE IS A LEGAL CLAIM AGAINST FUTURE LIFESTYLE FASHION
LIMITED
WHICH WILL BE LEFT WITH ADMINISTRATORS TO TRY AND RECOVER VALUE

Source text for Eikon:  ID:nRSJ4307Wa 
Further company coverage:  KOOV.L 

 ((Reuters.Briefs@thomsonreuters.com;))