Michael Pluta at the Ulm office of Pluta Rechtsanwälte GmbH and Nigel Atkinson and Neil Mather of Begbies Traynor in London have been appointed to act as Insolvency Trustee and as Joint Administrators respectively to the non-American operations of the US-based TallyGenicom Group a well-respected brand and a market leader in back-office printing solutions, which is also in Chapter 11 proceedings in the US.
These non-American operations include the UK service division, the UK, Northern European and Middle East, Africa and India sales as well as customer relationship management, administration and technical support functions. The revenue for these businesses is $120m, out of total Group revenues of $180m.
It is hoped that a single buyer will be found for several of the Group’s European businesses, allowing them to continue as going concerns.
Nick Hood, BGN’s Executive Chairman, commented:
“The ability to call on the specialist expertise and local knowledge of Begbies Global Network members to provide a pan-European solution was a key reason for winning these appointments. The integrated, international service that we are able to offer through BGN will create the best chance of finding a buyer for as many of the TallyGenicom Group companies as possible and providing a positive outcome for the staff and creditors.”
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