Home of Choice in last minute rescue talks
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Home of Choice has revealed that it is in last minute talks with a significant investor.
HOC chief executive Gerry O’Brien says the firm is “looking to safeguard the going concern status of the business”. He stresses it is not in administration, rather directors have had to file a ’notice of intention’ to appoint aministrators.
O’Brien says HOC and the investor are seeking approval from the FSA and says he expects to announce the response early next week.
He says: “I urge you to ignore any rumours that are circulating and not to take steps to terminate your contract with the company thereby keeping your licences and registrations intact. I am sure you are all aware that the negotiations we are involved in are aimed at safeguarding the future of the business and the employment of the company’s staff.”
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Readers' comments (2)
Chris Hulme - HoC AR | 1 May 2010 2:54 pm
Its been a rollercoaster week and life seems to hang in the balance. I can only hope the Gerry and Richard can afford us the news we ALL want to hear - that HoC is still a viable and productive business.
Gerry, your AR's have had a fantastic start to 2010 and the business levels continue to improve. We ARE behind you and wish to continue in this business going forward. We take note of your heed not to rush into agreements with other Networks.
Please understand though that we HAVE to plan ahead for ourselves, our families and those we employ and as such HAVE to undertake serious discussions with alternative routes of Authorisation. We could soon be 'on our own' and our livelihoods are in your hands.
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Anonymous | 4 May 2010 8:25 am
The thing that always amazes me is the fact that all too many directors want to keep you in the picture and up to date once the ship has already started to sink/sunk. Yet they must have seen this coming and continued to take their share of coms and proc fees, up to the point they could no longer keep situation a secret, if AR's believe that this is truely the way forward in a clear and transparent society, then carry on as you are, build a new pipeline, and then worry every friday when cheques don't arrive.
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