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SIS Digital Vision Ltd, SIS Digital Media Ltd, @8OutdoorMedia Ltd, Solutions in Steel Ltd All in Administration

Ben Woodthorpe, Simon Jagger and Cameron Gunn were appointed Administrators of SIS Digital Vision Ltd, SIS Digital Media Ltd, 8 OutdoorMedia Ltd and Solutions in Steel Ltd on Friday August 9, 2019.

We told those who would listen early last week that Administrators had been called in to oversee the future of these companies and the week before that we exclusively revealed that they were all VERY likely to soon enter voluntarily administration.

Administrators visited the London offices on Tuesday and provided a summary of the situation to those staff who turned up for work. Briefly: –

We also noted last week that Julian Lee, the Sun Hung Kai & Co. (SHK) board representative at 8 Outdoor was also out after their ill-fated GBP 11 million investment into the company back in February 2018 [1]. SHK has very likely seen huge multi-million pound losses on this investment.

The naive reaction in some quarters to our reporting of this whole sorry saga over the last month somewhat surprised us with no-one really willing to look at the root cause of this debacle – with the UK OOH market up a whopping 9% in Q2, 2019 and a supposed GBP 11 million investment only a year ago, people should be asking where did all that money go?

It will be interesting to see if Insite or GLOBAL initiate a proper RFP tender process for the inevitable reconstruction of the former 8 Outdoor leases and more generally for the ongoing digital conversion and sorely needed upgrade projects across the estates.

It will of course be even more interesting should any company associated with Simon Grice then ‘win’ these tenders. We have it on good authority that his next / new company is OPTIC MIRAGE Ltd. Company No. 12128785 incorporated on July 30, 2019

The @8OutdoorMedia Demise Continues [2]

For Sale & In Trouble, What Could Go Wrong For @8OutdoorMedia [3]