25 August 2012
MRBL Limited, a newly incorporated company owned by the lenders of Mouchel Group plc - RBS, Lloyds Banking Group and Barclays - and the Group's management, has acquired the businesses of Mouchel from the administrator of Mouchel Group plc.
This marks the completion of the Group's financial
restructuring and provides the business with a strong
financial platform for the future.
Grant Rumbles, Chief Executive of Mouchel commented:
"The completion of this restructuring means that the long-term future of this business is secure and the jobs of more than 8,000 people
have been preserved. We now have the right capital structure to take Mouchel forward. For our clients and suppliers it is business as
usual. With a stable and supportive ownership structure and a balance sheet that is fit for purpose, Mouchel will be in a strong position to
rebuild the business and start winning large contracts again. I'm pleased to say that we now have everything in place to be a stable and
successful business."
For further information please contact:
Mouchel
Grant Rumbles, Chief Executive
Rod Harris, Group Finance Director
01483 731 731
Brunswick Group
Aideen Lee / Azhar Khan
020 7404 5959
distributed by |