350 jobs saved in Sceptre Leisure pre-pack
SCEPTRE Leisure, the Lancashire company which operates more than 25,000 gaming machines to pubs and motorway service stations, has been sold after a restructuring process.
Restructuring and corporate finance firm Duff & Phelps led the process which has seen more than 350 jobs safeguarded as a result of the sale to the UK arm of Germany digital fruit machine supplier ADP Gauselmann.
Based at Bamber Bridge near Preston, Sceptre Leisure was listed on the AIM stock market until 2012. Most recent accounts for the year to the end of April 2013 showed losses rocketing to £5.4m on revenues of £32.8m.
In a statement Duff & Phelps said : “Certain companies within the group were placed into administration on 11 February at which point the core trading businesses and a number of subsidiary shareholdings were sold to ADP Gauselmann UK Limited. The businesses have continued to trade and there have been no redundancies as a result of the process. ”
Duff & Phelps managing directors Philip Duffy and Sarah Bell at the firm’s Manchester office advised on the pre-pack deal.
Mr Duffy said: “Sceptre Leisure underwent a successful financial restructuring process and sale. This leaves it in a stronger position to continue trading in the future. We are pleased that during the process trading carried on as normal, preserving ongoing business relationships and 354 jobs.”
