Robert Keys of Tenon Recovery was appointed joint administrator of the company by the High Court last month. "This move effectively bubble wraps the company to protect it from its creditors and give it some breathing space in which to sort out its affairs," says Keys.
The administrators are in talks with potential purchasers of the company and its constituent parts and report some interest from within the industry.
There are three levels of creditors - chargeholders such as banks that have issued secured loans, employees and general trade creditors. How much anyone gets will be determined by how much the company or its parts are sold for.
Marquee Audio managing director Spencer Brooks was unavailable for comment, while L&SI understands that a number of senior staff have left the company.
(Lee Baldock)
