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Devon Conversions calls in receivers

2nd January 1997, Page 8
2nd January 1997
Page 8
Page 8, 2nd January 1997 — Devon Conversions calls in receivers
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Which of the following most accurately describes the problem?

• West Country specialist

bodybuilder Devon Conversions is in administrative receivership, with 82 jobs at risk.

Trevor Frid and Cedric Clapp of Ernst & Young's Exeter office have been appointed joint administrative receivers of Devon Conversions (CP) and Devon Group Ltd. Employees at the Exeter factory are continuing to work on vehicles until a buyer can be found for all or part of the business.

Bodybuilder Voile, based at Hazelbury Bryan, Dorset, had been negotiating with the receivers to purchase the work in progress, name, goodwill, and stock. But Vaile sales and marketing director Jeremy Farrow says these talks have been unsuccessful.