Why is it that most company administrators are actually it seems, really clowns in disguise?
We have been following the ‘administration’ of VMG closely and once it was clear that all of the Mall owners quickly cancelled their contacts (and surprise surprise all the kit located in the malls which were out of contract belong to a variety of leasing companies) the only item of value left at VMG were the tax losses which were worth around GBP 4 million.
So in their infinite wisdom what do the administrators go and do? That’s right, make all the (VMG) staff redundant as such removing any possibility of the losses being of value.
In short there is nothing worth having at VMG unless you are need of some desks.
We guess that Clear Channel and / or ASG Media (nee’ Avanti) would have hurried around the malls and re contracted with the owners but no announcement on that score yet from either party.