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More than 300 people
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Visit London Up For Sale
Meetpie reports that the Visit London brand is to be sold off as Visit London Ltd is placed in administration:

“The tourism agency ceased to trade following the establishment of London & Partners, which brings together Visit London, Think London and Study London under one umbrella brand.

"Stephen Robert Cork and Joanne Elizabeth Milner at Cork Gully LLP have been appointed to handle the administration, which will see the sale of assets including the company name, website, merchandising, office equipment and TV and audio equipment. Visit London’s staff have transferred over to London & Partners.

"Cork Gully confirmed Visit London Ltd had entered administration owing money to creditors but would not disclose the figure outstanding. The last filed financial results for the company (for the year ended 31 March 2010) show income of £21.5m and expenditure of £21.6m, resulting in a deficit for the year of £112k. The balance sheet showed debts of nearly £4m falling due within one year (with £2.6m owed to trade creditors), but there were net funds of £3.6m and fixed assets of £1.1m.”

 

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