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All of the interested parties are British-based companies, although Ernst & Young, the receivers, also expects international companies to become involved soon. Alan Bloom, the corporate restructuring partner at the accountants, said: “These are very early days but the amount of interest already shown makes us confident of selling the business.”
Finelist, which employs more than 5,500 people and has 600 operations, has debts of more than £500 million. It collapsed only seven months after it was taken over by a consortium of French venture capitalists for £159 million.
Ernst & Young plans to interview Chris Swan, the former chief executive, who left with the finance director, Sadhana Reddy, shortly after the take-over by Europe Auto Distribution. But Mr Bloom said that this was not a priority. Finelist could be sold as one operation or it could be broken down. It has 12 key operations which fall into the divisions of retail, manufacturing and packaging and distribution.
Mr Bloom believes that some of the interested groups are considering taking on the whole business.
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