VTL Group – whose fully owned finance company Nathans Finance went into receivership last week – said it was close to securing new funding and should be able to restart trading from Monday.
The vending machine company stopped trading last week after Nathans Finance went into receivership.
The company said it had an agreement with the receivers of Nathans Finance – John Waller and Colin McCloy of PricewaterhouseCoopers – to aim to sell its businesses “as a going concern in a controlled manner to preserve the value for all stakeholders”.
“VTL’s chairman, Gary Stevens, is currently in the USA discussing options with interested parties to sell all or part of the businesses,” the company said. “This includes VTL’s 24seven and Shop24 brands as well as its proprietary vending management software and franchise business system.”
VTL owes Nathans Finance about $110 million.
Make residual income by providing online page one organic results that every small business needs to grow.
Earn recurring monthly payments selling mobile websites and apps to local businesses.
A internet marketing business system designed for you to be successful in your online business.
Be a part of the number one growth industry while securing your future with residual income.
Amazing opportunity for only $500 in an industry that is prime for sales.
What could be better than earning up to 100% commission on the sales of exciting cruise and destination vacation packages?