Will the fat lady be singing for events firm EST?
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EAST LONDON MUSIC logistics giant EST is talking to investors to avoid enter ing administration.
EST is a division of Woolwich-based ES Group, which has managed the logistics for big-name music artists for the past 37 years, including Paul McCartney, Michael Bublé, Willie Nelson and Beyoncé, to name but a few.
On 25 January, the company iled an intention to appoint Paul Holgate and Philip Long of PKF (UK), as joint administrators of the business, which has an O-licence for 60 vehicles and 60 trailers.
The company is not in liquidation, but declared dur ing a board of directors’ meeting on 24 January that the irm “is, or is likely to become, unable to pay its debts”. It was unanimously resolved at the meeting to ile a notice of intention to appoint an administrator.
However, director Ollie Kite tells CM that the irm is exploring options to avoid administration.
“All I can say at this point is that we are talking to potential investors with the view of moving the company forward,” he says.