Attempts to rescue all of a Hertfordshire TV and film transport business have failed after the administrator was only able to sell its land and buildings.
Mentmore Investments entered administration on 19 April but it continued to trade as insolvency experts scrambled to sell it to an interested party.
Green Clover, part of the limited liability partnership, provided transport and recycling services to the film and entertainment industries.
It held a licence for 12 HGVs and 20 trailers and traded out of a Berkhamsted operating centre.
Mazars administrator Guy Hollander said the firm struggled due to legacy losses arising from Covid-19 lockdowns when film productions were paused or cancelled.
In addition, its investments into a number of service offerings had impacted cashflow and legal action was being pursued by a landlord in respect of outstanding rent and costs for around £515,000.
Following its appointment, Mazars continued trading Green Clover to gauge the level of interest in purchasing it, as well as the other group businesses.
The administrator said it received expressions of interest from 19 parties and 13 non-disclosure agreements had been signed.
However, Hollander told motortransport.co.uk this week that it had been unable to sell its transport side work:
“After an extensive marketing period and our best efforts to achieve a sale, including that of the business, we have received and accepted a significant offer for the land and buildings owned by the partnership only, which unfortunately does not include the Green Clover business,” he said.
“Consequently, it has been necessary to cease to trade the business.”
