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Unilad Goes To Administration, Employees At Risk


Viral videos on face may not be available in future as the company is at stake.

As the top executives of Unilad get bankrupt, the company decides to go for a bidding; namely, Bentley Harrington is known to be in a debt of £6.5m which includes £1.5m money to theUnited Kingdom tax authorities.At present, the Facebook account of Unilad has 39 million followers worldwide, with a varied number of stories and posts online. The company is on a bid for £10m; Linton Capital and David Seftonare the two partners in this bid who informed that they have known the company from quite some time now.

Rocket Sports is another bidder in the group. They are known for their popular football news group on social media. As per Mr David Sefton, the 10 million pounds of the bids will be used to pay back the creditors; they will be paid back at 100p per pound. He also informed that the investors attracted towards Unilad have the potential of generating core revenue of around 6 to 7 million pounds every year. Unilad is a 2010 company which was closed down in 2012. The company was re-opened in 2014 with Liam Harrington and Sam Bentley as its owners.

The company at present has offices at London and Manchester. The company was also named as one of the most popular pages of Facebook in 2017. Administrators Leonard Curtis Business Rescue and Recovery, based at London, are looking into this deal. They said they are considering offers which will allow the least number of job cuts and provide the best amount of refund to the creditors. Sefton said that he is aware that there are several bidders competing with him for this deal but he is the first one to submit an official bid for Unilad.

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