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Update on Monstermob rumours

Since my article last week with rumours that Monstermob had gone bust, I’ve had quite a few emails from interested parties asking if I know anything else. As it’s been a long holiday weekend in the UK, I haven’t had a chance to do any further research – however it appears I won’t be needing to. Here’s a statement I’ve got from Miguel Lopez-Quesada, General Manager, Corporate Communications at LaNetro Zed – owner of Monstermob:

“As disclosed in a letter to all shareholders from the Chairman, dated August 16th and published on the Monstermob Group plc website (www.monstermobgrouplc.co.uk), as part of the ongoing process of corporate rationalisation and reorganisation within the Monstermob Group the Board has decided to begin an administration process for three UK subsidiaries, these being Monstermob Ltd and two other companies with limited activity (Phunky Ltd. and Mobiprom Ltd.). This decision has been taken to preserve the rights of the creditors of these subsidiaries. The financial and patrimonial strength of Monstermob Group PLC will not be affected in any material way by these measures.

Monstermob Group plc remains as headquarter of the group, based in Lancaster and operating in absolute normality. The administration process is a normal business practice and is being conducted according to the law and with all the guarantees to the parties”.

(Thanks to Marc at Mantra PR for the information)

One reply on “Update on Monstermob rumours”

putting a company into administration is “normal business practice” hey!!! Very interesting view on the way to run a company.

Some might say that using the administration process as part of normal business practice is not a very ethical way to do things…others might disagree…..hhmmm…

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