Information  X 
Enter a valid email address

Homebuy Group PLC (HBG)

  Print      Mail a friend

Thursday 14 September, 2006

Homebuy Group PLC

Petition re Administration

Homebuy Group PLC
14 September 2006

For immediate release

14  September 2006



                               Homebuy Group plc
                  Petition being filed for Administration


The Board of Homebuy Group plc (the 'Company') regrets to announce that the
Company is filing a petition for administration of the Company and its trading
subsidiaries.

Further to the update on future funding arrangements made by the Company on 16
August 2006, the Board has, together with its advisers, held extensive
discussions with existing shareholders and funders and also a number of
alternative providers of funding. Unfortunately, none of these discussions have
resulted in an acceptable proposition for the funding of the Company.
Consequently, the Board has today instructed its lawyers to file petitions for
the administration of the Company and its trading subsidiaries.


Further enquiries:

Allan Piper, First City Financial Ltd                      Tel: 020 7436 7486

John Smith, Homebuy Group plc                              Tel: 0141 550 9150






                      This information is provided by RNS
            The company news service from the London Stock Exchange