Future of Mouchel secured
25 August 2012
MRBL Limited, a newly incorporated company owned by the lenders of Mouchel Group plc – RBS, Lloyds Banking Group and Barclays - and the Group's management, has acquired the businesses of Mouchel from the administrator of Mouchel Group plc.
This marks the completion of the Group's financial restructuring and provides the business with a strong financial platform for the future.
Grant Rumbles, Chief Executive of Mouchel commented:
"The completion of this restructuring means that the long-term future of this business is secure and the jobs of more than 8,000 people have been preserved. We now have the right capital structure to take Mouchel forward. For our clients and suppliers it is business as usual. With a stable and supportive ownership structure and a balance sheet that is fit for purpose, Mouchel will be in a strong position to rebuild the business and start winning large contracts again. I'm pleased to say that we now have everything in place to be a stable and successful business."
For further information please contact:
Grant Rumbles, Chief Executive
Rod Harris, Group Finance Director
01483 731 731
Aideen Lee / Azhar Khan
020 7404 5959
Calls to the 0871 384 2277 number cost 8p per minute from a BT landline, other telephone providers' charges may vary. This helpline is available from 8.30 a.m. to 5.30 p.m. Monday to Friday (except UK public holidays).
For questions and queries relating to your previous shareholding in Mouchel Group plc please contact the company's registrars, Equiniti, on:
0871 384 2277 (or, if calling from outside the United Kingdom, +44 121 415 0189).