Administration of Target Entertainment Ltd (2837Y)
February 28 2012 - 7:00AM
UK Regulatory
TIDMMRM
RNS Number : 2837Y
Metrodome Group PLC
28 February 2012
28 February 2012
Metrodome Group Plc
(the "Group")
Administration of Target Entertainment Ltd. ("Target")
The Board of Metrodome Group plc (the "Board") announces that it
has taken the difficult decision that Metrodome can no longer
continue to provide support to its loss making subsidiary Target.
Given the tougher than expected trading conditions for Target, as
highlighted in the trading update on 21 December 2011, the Board
believes there is little prospect of Target returning to
profitability in the near future and, together with its advisers,
has conducted a thorough review of the available options for
Target. As a consequence, the Target business has been placed into
administration and BDO appointed as Administrators of Target with
effect from 28th February 2012.
The Group's other profitable trading divisions, Metrodome
Distribution and Hollywood Classics, are unaffected and continue to
trade as normal.
For further information please visit www.metrodomegroup.com, or
contact:
Metrodome Group plc
Mark Webster / Deborah Brown Tel: 020 7535 7300
Charles Stanley Securities
Dugald J. Carlean / Karri Vuori Tel: 020 7953 6000
Tavistock Communications
John West / Simon Compton Tel: 020 7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
END
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