MyHome Into Administration

By Graham Rogers | Uncategorized

Sep 06

Some news just in which will interest people in the domestic cleaning industry; and interests us as OvenClean, a competitor of ours, is part of the MyHome group; see www.ovenclean.com and www.myhome.com

Domestic cleaning specialist Myhome International <MYHM.L>, which has over 900 franchisees, has gone into administration. The appointment of Ernst & Young as administrators affects only the parent company rather than the trading subsidiaries. Administrator Roy Bailey explained that underlying businesses are not subject to the insolvency proceedings and should continue to operate while the group's strategic options are considered. Shares in Myhome were suspended on Wednesday at five-pence after the group received a demand notice from Lloyds TSB <LLOY.L> for the immediate payment of loans totalling eight million pounds.

See financial times for the full story:

http://www.ft.com/cms/s/0/c08dfe42-7ab2-11dd-adbe-000077b07658.html

and

http://www.independent.co.uk/news/business/news/myhome-suspended-on-aim-after-lloyds-pulls-the-plug-918130.html

Also see:

http://www.myhome.com/group/investorrelations.html

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