Firebrand Media had struggled for some time with its cash flow and was forced earlier this year into a Company Voluntary Arrangement (CVA) with its creditors.
It is our understanding that a new company called Retail Media Works Ltd has risen from the old – funded or part funded at least by the investors behind Eurowide Media Limited – the folks also behind Ashingo / Ashingo Media.
Firebrand Media / Retail Media Works have the Sainsbury’s One-Stop retail installations
Eurowide Media, at least privately has also been making a number of other claims as to investment and acquisitions…
- Allegedly Bought. An installation company called BITS (Business Information Transmission Systems) which does some sub-contracting work for Arqiva and various installations for the Post Office.
- Allegedly Bought. Big Media Group Ltd whose demise we covered recently – if this is true, it’s not surprising as the administrators were looking for a buyer
- Allegedly In Discussions To Acquire. Illuminated Displays Ltd which we think is a business that sells / sold media on traditional 6-sheets
- Allegedly In Discussions To Acquire. Venue Solutions Holdings PLC (VSH.L) is an AIM listed company, that like many others on the UKs Alternative Investment Market has had a torrid time of it recently
Venue Solutions is in our opinion, a business with fingers in far too many pies, and we are not surprised that the management team might be trying to get rid of the digital signage / media sales part of the company in order that they can concentrate on their Theme Park offering called YOURDAY.
All of these investments do actually make some sense; a couple of networks bought at a knock down price, an installation business and a couple of media sales outfits.
Company Voluntary Arrangement (CVA’S)
A Voluntary Arrangement is a contract between a company and its creditors that is legally binding on all concerned and can give a business the breathing space that it needs in order to recover its financial footing.