Core Display Systems to liquidate after funding stalls

Portable display supplier Core Display Systems is to go into administration after cautious banks refused to support the firm's backers.

Core Display Systems to liquidate after funding stalls
Core Display Systems to liquidate after funding stalls

The five-year-old firm was looking for further backing from investors, but financial constraints resulting from the credit crunch meant no money could be found, and the firm is due to wind up in the next few weeks.

"We are talking to liquidators now," said managing director Steve Clements. "We ran the stock and staff down to a minimum and needed the further investment to kick on, but sales have dropped."

Clements said he would like to continue in the event industry and hopefully resurrect the brand.

"We have a few creditors, but they've been fantastic, and we have not fleeced anybody," he added.

At its peak the Wiltshire-based firm had six staff, moved £1.3m worth of kit, and had ambitious growth plans, but the credit crunch prevented the company from expanding further.

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