/raid1/www/Hosts/bankrupt/TCREUR_Public/000803.mbx        T R O U B L E D   C O M P A N Y   R E P O R T E R     

                        E U R O P E

            Thursday, August 3, 2000, Vol. 1, No. 62

                        Headlines

G E R M A N Y

HUTSCHENREUTHER:  Waterford Acquires Bankrupt Porcelain Maker
METRO AG:  Salomon Downgrades German Retailer


H U N G A R Y

MALEV:  Posts Ft5 Billion Loss


I R E L A N D

IRISH NATIONAL PETROLEUM:  Tosco Buys State Oil Company For ?85m
WARNER CLOTHING COMPANY:  Company Shuts Down, 113 Out of Work
WARNER LINGERIE : Suffers Major Jobs Blow


I T A L Y

L'UNITA: Closure Leaves Around 200 People Out of Work


N E T H E R L A N D S

FRIMA: Declared Insolvent
KLM: Alitalia Seeks Damages Estimated at More Than E50m ($46.3m)


P O L A N D

TELEKOMUNIKACJA POLSKA:  Sold And Privatize


R U S S I A

ONAKO OIL:  Roadblocks Stand in the Way of Sale


U N I T E D   K I N G D O M

ALFRED A SAXON LTD:  Liquidation proceedings
ASTON VILLA:  Posts ?4.8m Full Year Loss
CENTRAL & CITY (STAR) LTD:  Liquidation proceedings
CHARLIE MCNAIR LTD:  Liquidation proceedings
COLING CORPORATION LTD:  Liquidation proceedings

COMBINED SERVICE PUBLICATIONS LTD:  Liquidation proceedings
COMMUNITY DEVELOPMENTS (MIDLANDS) LTD:  Liquidation proceedings
DARBY BROTHERS CONSTRUCTION LTD:  Liquidation proceedings
DRURY VINCENT LTD:  Liquidation proceedings
ESSENTIAL EQUIPMENT FINANCE LTD:  Liquidation proceedings

EXECUTIVE & MANAGEMENT RESOURCES LTD:  Liquidation proceedings
FESTIVE LTD:  Liquidation proceedings
GAVIN MOULDERS LTD:  Liquidation proceedings
GREAT UNIVERSAL : To Close Car Lending Business
HANOVIA PROPERTY LTD:  Liquidation proceedings

HERON RESEARCH LTD:  Liquidation proceedings
HYDER: WPD Increases Its Bid
HYDER: Rating Could Hit UK Water Bonds
HYDER:  Shares Surge as Takeover Battle Rages
LAKENHEALTH PROPERTIES LTD:  Liquidation proceedings

LINKSERVE SYSTEMS LTD:  Liquidation proceedings
MAINAVON LTD:  Liquidation proceedings
MALMAISON HOTEL:  MWB to Acquire Hotel Chain for ?80 Million
MIDDLE EAST MARKET & COMMUNICATION LTD:  Liquidation proceedings
NET-TEC (UK) LTD:  Liquidation proceedings

OAKLAND JOINERY CONTRACTS LTD:  Liquidation proceedings
QUEENS MOAT:  Hotel Group Raises Borrowing
QUEENS MOAT: On the Edge of Debt Repayment
S & T MERCHANTS (EDMONTON) LTD:  Liquidation proceedings
STORM HOLDINGS LTD:  Liquidation proceedings

THOMSON DIRECTORIES:  Italian Yellow Pages Publisher Buys Thomson
USK GROUNDWORKS LTD:  Liquidation proceedings
UNIVERSAL (UK) LTD:  Liquidation proceedings
V W TRAINING LTD:  Liquidation proceedings
VALUE ADDED SERVICES LTD:  Liquidation proceedings

WEYERHAEUSER (IRELAND) LTD:  Liquidation proceedings
WHISPERGOLD SALES LTD:  Liquidation proceedings
WIRRAL MANUFACTURING LTD:  Liquidation proceedings


=============
G E R M A N Y
=============

HUTSCHENREUTHER:  Waterford Acquires Bankrupt Porcelain Maker
-----------------------
THE TIMES August 2, 2000

Waterford Wedgwood, the Ireland-based fine porcelain maker, will
acquire the brand name of Hutschenreuther from Winterling, a
bankrupt German porcelain maker.

Waterford, whose shares rose 1p to 68p on news of the deal, said
its German fine china unit, Rosenthal, would buy the brand name
of 186-year-old Hutschenreuther, which operates two factories in
Bavaria. Hutschenreuther's sales represent less than 5 per cent
of Waterford's total sales, which in 1999 climbed 20 per cent to
euro880 million (?543 million).


METRO AG:  Salomon Downgrades German Retailer
-----------------
European Investor & Reuters  August 1, 2000

Schroder Salomon Smith Barney on Tuesday downgraded German
retailer Metro AG to "underperform" from "neutral" saying it
thought the shares overvalued on a fundamental basis.

Retailing analysts at Salomon said in a note that Metro's share
price rise from 34 euros in early July had been fuelled by
speculation that Metro would sell off its Real hypermarkets or be
taken over in its entirety by Wal-Mart Stores Inc .

"We do not think a sale is likely in the short-term and
consequently prefer to value the business on a fundamental basis
at 38 euros. Given the current price of 45 euros we downgrade our
recommendation to underperform," the analysts said.

Metro deserved to trade at a discount to its peers, even below
Ahold, the most lowly-rated of a comparison group comprising the
German and Dutch groups plus Carrefour, Tesco and Casino.

Metro was disadvantaged by restructuring, management track record
and tough German market conditions, they noted.

Metro was trading at 44.20 euros late on Tuesday afternoon after
opening at 44.60.


=============
H U N G A R Y
=============

MALEV:  Posts Ft5 Billion Loss
--------------
BUDAPEST SUN July 27, 2000

Mal,v is hoping to break free of recent turbulent times with the
appointment of a new president.

Financial and technical problems have been a major cause of
concern for the Hungarian national airline, which recently saw a
change in management.

Zsolt Hern di resigned from the presidency last week, saying he
was unable to head "Mal,v and Mol as well as work as CEO for
Takar,kbank".

His successor will be Ferenc Szarvas, a Mal,v board member and
head of the Government Debt Management Centre (AKK).

His experience at AKK could well prove useful to Mal,v, who
reportedly lost Ft5 billion ($17.7 million) this year alone.

Szarvas said he would "not give up his position at AKK" and added
his main task would be to "steer Mal,v towards a successful
privatization".

Currently a national airline, Mal,v has been dogged by financial
difficulties which have threatened to push it into serious fiscal
problems.

Margit Kocsi, Mal,v spokesperson, told The Budapest Sun that
"revenues went up by 26% last year, but outgoing costs increased
by 27%" and stated that Mal,v wished to, "reduce its costs by Ft3
billion ($10.6 million).

"One way to do this would be to reduce staff, but another way
would be to examine the profitability of certain flights. For the
first six months of 1999 Mal,v spent Ft3.5 billion ($12.3
million) on fuel, and for the same period this year has spent Ft8
billion ($23.3 million).

"This is largely because of the rising price of fuel and the rate
of the US dollar and Euro, which are working against Mal,v," she
said.

As part of the company's refurbishment, and in a bid to cut
delays and technical problems, Mal,v is to withdraw Tupolev
planes from service by the end of March 2001, citing
environmental standards as the main reason.

"Environmental rules about noise levels are stricter in Europe
and we want to act in harmony with Europe," said Kocsi.

Meeting environmental standards are not the only worries Mal,v's
Tupolevs have had of late.

The airline's Russian-built planes have had a number of technical
problems including false warnings from systems leading to
emergency landings. In a recent case, still under investigation,
a plane's landing gear allegedly failed when approaching a runway
in Greece.

Kocsi said that while the Topolevs have had some problems, they
were heavily used and suffered no more problems than other
planes.

Despite the setbacks, Mal,v is looking to the future according to
Kocsi who said, "The airline plans to purchase two new Boeing
737s."

This decision comes at a time when flights to Beijing using 737s
have been temporarily cancelled due to low passenger numbers.


=============
I R E L A N D
=============

IRISH NATIONAL PETROLEUM:  Tosco Buys State Oil Company For ?85m
----------------------------------------
IRISH BUSINESS NEWS August 2, 2000

The Government hopes to complete the $100 million (?85 million)
sale of the assets of the Irish National Petroleum Company (INPC)
to the US refining group Tosco Corporation within three months.
Connecticut-based Tosco is the largest independent oil refiner in
North America and is buying Whitegate, the Co Cork refinery and
the oil storage facility on Whiddy Island in Bantry Bay from the
company.

The Government will retain ownership of INPC which has debts of
more than ?106 million, according to the most recent figures.
Much of the debt was run up by the group in recent times in
bringing the Whitegate Refinery up to European environmental
standards. The State will also retain INPC's strategic oil
reserves, valued at ?61 million, according to the Minister for
Public Enterprise, Ms O'Rourke.

The Government could face a hefty bill to buy the co-operation of
INPC's staff. Tosco has agreed to offer employment to all the
company's workforce at existing terms, conditions and pension
rights. The group will make Dublin its European headquarters.

A spokesman for the Department of Public Enterprise said
yesterday that the discussion with INPC employees will begin
shortly. He said that although Tosco encourages share ownership
by employees the nature of the sale did not offer any scope for
direct employee participation but other models would be looked
at. It is expected that staff will be offered a financial
incentive to leave INPC and join Tosco.

RT? staff who went through a similar process when Cablelink was
sold to NTL last year got payments of around ?40,000.

INPC began looking for a strategic partner last year having
failed to find one on two previous occasions in the last eight
years. The company said yesterday that it had discussions with 30
companies before settling on Tosco.

Tosco will now enter into exclusive negotiations with INPC to
resolve a number of outstanding issues. This will include a due
diligence process as well as an environmental audit.

The US group has given a commitment to operate the facilities,
which employ more than 220 people for at least 15 years. This
will involve a substantial investment to allow the refinery meet
additional European directives on environmental standards.

Tosco is quoted on the New York and Pacific stock exchanges. It
has an annual turn over of $20 billion and made profits of $442
million last year. It operates three refineries on the US East
Coast and another three on the West Coast. It processes 1.25
million barrels of oil a day at the six refineries and is in
negotiations to acquire a seventh in Louisiana. The assets of
INPC, which processes 75,000 barrels a day, will be its first
acquisitions outside of the US.

INPC yesterday released its annual report for 1999 which showed
that the state owned company made a pre-tax profit of ?2.9
million last year on sales of ?287 million. This compared with
profits of ?8.9 million on sales of ?227 million last year.

The strength of the dollar, which was up 16 per cent and higher
oil prices were responsible for the increase in sales although
the amount of oil refined fell to 2.8 million tonnes.

Oil companies operating in Ireland are required to buy 20 per
cent of their
needs from Whitegate under what is called the Mandatory Regime.
This requirement will now be ended according to Ms O'Rourke. INPC
also holds the State's strategic oil reserve, valued at ?61
million, through its National Oil Reserves Agency operation which
will not be sold.



WARNER CLOTHING COMPANY:  Company Shuts Down, 113 Out of Work
-------------------------------
IRISH INDEPENDENT August 2, 2000

A Mayo town was plunged into depression yesterday by the loss of
more than 100 jobs.

The gloom in Belmullet contrasted with the joy in Arklow as the
Co Wicklow town celebrated the news that more than 800 jobs were
on the way there.

Inevitably, there were comparisons between Arklow's good fortune
and the bleak future facing the little town on the Erris
peninsula following closure of the Warner Clothing company with
the loss of 113 jobs.

Chris Birrane, a former executive of the firm, who must quickly
find other work in order to feed a family of seven young
children, put the pain of the workforce into words. ``This is as
bleak as you can imagine,'' he said simply. ``You can't paint a
blacker picture. It is a devastating blow to the region.''

Statistics underline the body blow which the Warner closure will
deliver to family and social life over a vast geographical area.
Eighty-five per cent of the former Warner workforce are women;
45pc have dependent children and half are married.

The only option available to the massed ranks of newly redundant
is to leave for work in the larger towns of Ballina or Castlebar
or stay in Belmullet and survive on State benefits.

``It is devastation from my point of view,'' explained Mr
Birrane, a qualified industrial engineer, whose seven children
range in ages form 10 years to six-weeks-old.

The big irony for Erris is that the Warner closure comes on a day
when a monster jobs package of some 800 jobs was announced for
the Arklow area of Co Wicklow.

``We seem to be living in the wrong part of the country,'' was
the common refrain of many workers when they heard about the
Wicklow windfall.

``We don't begrudge Arklow its good luck,'' insisted Patricia
Carey, nearly nine years with the British owned firm, who is a
member of the special Task Force which has been set up to find
replacement jobs for the area.

She added: ``There is a glut of jobs elsewhere at the moment. The
country is awash with money. We are only looking for our fair
share in Belmullet which has been neglected for far too long.''

The local Bishop of Killala, Dr Thomas Finnegan, must have had a
strong sense of history repeating itself yesterday when he
visited the Warner plant in Belmullet to wish the departing
workers well.

In 1988, when Babygro, the forerunner of Warner, closed down, he
arrived from Ballina on a similar mission. There was not much
consolation he could give this time, but he did sound an
optimistic note.

``With the present boom economic climate it should be easier to
find a replacement industry now than it was 12 years ago,'' he
said.

Local politicians, who fear a renewed exodus of families from the
area, are calling for better roads and infrastructure in the
Erris region, to attract employers willing to make a long term
commitment to the area.

``A journey to Castlebar, the county capital, involves a round
trip of 80 miles on bad roads,'' newly elected Councillor Gerry
Coyle pointed out. ``Our most important priority is a roads
structure which brings the region into the 2Ist century.''


WARNER LINGERIE : Suffers Major Jobs Blow
-----------------------
IRISH BUSINESS NEWS  August 2, 2000

The north Mayo town of Belmullet suffered a major today with the
news that 113 jobs have been lost with the closure of the Warner
lingerie factory in the town.

The factory was the biggest employer in the town and a SIPTU
spokesman compared the impact of the job losses on the area to
the closure of the Fruit of the Loom textile factory in Donegal.

A SIPTU shop steward in Belmullet today accused the Government of
lacking a sense of urgency about the situation which will
seriously affect the north Mayo region.


=========
I T A L Y
=========

L'UNITA: Closure Leaves Around 200 People Out of Work
----------------------------
AD AGE'S DAILY WORLD WIRE, August 1, 2000

L'Unita, once the most important left-wing newspaper in Europe,
but which had become increasingly irrelevant in the wake of the
end of the Cold War, printed its last issue July 28.

L'Unita was founded to present the views of the Italian Communist
Party. It was the largest communist party in the West during the
Cold War. It had become famous as the voice of the opposition
during the years of Fascist dictator Benito Mussolini, when it
published irregularly and from secret locations. In the 1970s, at
the newspaper's height of popularity, circulation for special
editions surged as high as 1 million.

By this year, however, the newspaper was selling only 50,000
copies a day and advertising revenue started to dry up; losses
reportedly reached $1.5 million per month, with most of the
shortfall covered by the Democratic Left political party. Two
weeks ago, L'Unita voted itself into receivership, hoping its
brand name would attract a buyer willing to restructure the
company and invest fresh capital. When no investor surfaced, the
newspaper decided to stop the presses.

The closure leaves around 200 people -- including 125 journalists
-- out of work, a painful position for a paper that had long
championed workers' rights.

L'Unita's failure is part of a broader trend of dropping
newspaper readership in Italy. Government figures show that total
newspaper sales in Italy were 22.9 million at the end of last
year, down 2.9% compared to a year earlier and 19.5% lower than
in 1990.


=====================
N E T H E R L A N D S
=====================

FRIMA: Declared Insolvent
--------------------
DE TELEGRAAF & WORLD REPORTER July 29,2000

Frima, the Dutch salt factory, announced yesterday that it will
be taken over by German rival Kali und Salz. Frima, the second
largest salt producer in the Netherlands, has been in financial
difficulties for some time and was recently declared insolvent.
Frima owes banks a total of Fl 133m.

The German company is taking over Frima through the newly formed
company Frisia Zout. Frisia will take over nearly all 65
employees of Frima. The new combination will make salt for both
the industrial sector and the consumer. Frisia Zout will become
the European sales channel of Kali und Salz.


KLM: Alitalia Seeks Damages Estimated at More Than E50m ($46.3m)
---------------------
FINANCIAL TIMES August 1,2000

British Airways and KLM are expected within days to extend the
period of exclusivity for negotiations on a merger. The initial
eight-week period expires on Wednesday.

According to sources close to the talks the process is likely to
be extended as the two seek agreement on price and structure that
would be acceptable to regulators in Brussels and Washington.

"There are important discussions going on this week and we will
know better where they stand by Friday," said a source close to
the Dutch carrier. "BA remains the favoured partner for KLM and
we will keep on talking regardless of an exclusivity agreement."

The two announced on June 7 they were entering talks on a
possible combination of their businesses, which could create the
world's biggest carrier measured by turnover.

KLM was hit on Tuesday by a claim for damages from its former
alliance partner Alitalia, which it dropped in late April shortly
before making its first overtures to BA.

Alitalia is seeking damages estimated at more than E50m ($46.3m)
from KLM, which could trigger an eventual contractual penalty of
E250m.

It is referring the claim to international arbitration.

The Italian carrier alleges KLM broke a contract when it pulled
out of its joint venture agreed at the end of 1997.

The damages sought by Alitalia relate to the costs incurred in
starting the alliance, such as refurbishing check-in facilities,
and the loss of traffic and damage to the Italian airline's image
when KLM withdrew. Alitalia said the figure also reflected the
fall in its share price.

Alitalia is also refusing to reimburse KLM for the contribution
of E100m the Dutch group made to the costs of developing the
Malpensa airport hub near Milan.

Amid the growing acrimony between the two, KLM said yesterday it
was taking steps to recover the E100m and would also file its own
claim against Alitalia.

It said it was "confident about the outcome". The arbitration
will be held in the Netherlands under the rules of the
Netherlands Arbitration Institute.

The collapse of the partnership with KLM left Alitalia's strategy
in tatters.

The Italian carrier is now working on a new corporate plan that
should be completed by October. While the new plan is expected to
foresee strategic partnerships with one or more international
airlines, Alitalia admits finalising agreements may take a long
time.


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P O L A N D
===========

TELEKOMUNIKACJA POLSKA:  Sold And Privatize
--------------------------------------
WARSAW BUSINESS JOURNAL  July 31, 2000

The largest sale of state assets in post-communist Central and
Eastern Europe and in the history of Polish privatization was
completed last Wednesday when a France Telecom-led consortium
bought a 35% stake in the country's national phone operator
Telekomunikacja Polska (TPSA) for zl. 18.6 billion ($4.3
billion).

France Telecom purchased a 25% stake in TPSA through its
subsidiary Cogecom, and Polish investment company Kulczyk Holding
bought a 10% stake through its subsidiary Tele-Invest in the
second stage of the operator's privatization. The strategic
investors paid zl. 38 per share, which added $300 million more to
the treasury's coffers than the government originally
anticipated.

Although France Telecom is expected to announce its strategy for
TPSA within the next two months, its plans for the Polish
operator will not differ drastically from TPSA's own development
plans, which were put in place prior to the sale, industry
analysts said last week. The sale will provide the capital needed
to upgrade TPSA's current network and to invest in new
technologies to ensure that the operator remains the dominant
player in Poland's increasingly competitive telecom market, they
said.

TPSA faces increasing competition from local operators, such as
Netia and Elektrim's subsidiary El-Net, in both local and
domestic long-distance services. In the mobile arena, TPSA's
subsidiary PTK Centertel (Idea) competes with the country's two
other mobile operators, Polska Telefonia Cyfrowa (Era GSM) and
Polkomtel (Plus GSM). TPSA holds a monopoly on international
long-distance calls until Jan. 1, 2003, when the current
liberalization of the telecom market will be completed.

TPSA's basic strategy "to improve service to position the company
ahead of market liberalization" will receive a boost from a
seven-year, zl. 27 billion ($6.3 billion) investment program,
said Stephen Pettyfer, a telecom analyst at Merrill Lynch in
London.

As part of the deal, the consortium agreed to implement a broad-
based investment program to develop all key services, including
fixed-line and mobile telephony and internet services. Although
more details about program expenditures are expected when France
Telecom announces its strategy for TPSA, analysts said that the
capital would be used to pay for one of the United Mobile
Telecommunications System (UMTS) licenses that the government is
supposed to offer this year. The capital will also finance the
development of General Packet Radio System (GPRS) services, which
offer mobile subscribers rapid access to the internet and mobile
commerce, and pay for broadband for speedier internet access and
data transmission services. Michal Marczak, a telecom analyst at
BRE Bank Securities, said part of the money would be invested in
TPSA's internet subsidiary TP Internet to develop electronic-
commerce services. Pettyfer added that new information
technology, including a modern billing system, would be
installed.

Zdzislaw Wrzesinski, director of France Telecom in Poland, was on
vacation and not available for comment. Krzysztof Plisko, who
works at NBS Public Relations, France Telecom's PR agency in
Warsaw, said he could not provide any additional information
other than what was written on the French company's official news
statement. When asked about France Telecom's strategy for TPSA,
he said that it would be discussed by TPSA's current management
board and its partners in the near future.

The consortium paid zl. 38 per share, 39% more than the zl. 23
France Telecom offered in the first sale of TPSA shares to a
private investor in December. In the initial tender for a 25-35%
stake in TPSA, France Telecom acting alone offered zl. 23 per
share, or zl. 11.3 billion ($2.69 billion) for a 35% stake, after
the only other bidder, American telecom operator SBC
Communications, withdrew. The ministry rejected France Telecom's
price as too low and cancelled the tender.

The sale should be completed by the end of September with about
$1 billion to $1.5 billion of the proceeds being deposited into a
special hard-currency account to prevent the money from
influencing foreign exchange rates. Some of the cash will be used
to service the foreign debt.

Under the terms of the deal, the consortium has the option to
increase its stake to 51% by purchasing an additional 10% by July
31, 2001, and by acquiring the final 6% when the government
floats at least 14% of its TPSA shares in a second public
offering on the Warsaw Stock Exchange (WSE) by Sept. 30, 2001.
The Polish operator's initial public offering was held in
November 1998 when shares were floated on the WSE and as global
depository receipts (GDR) on the London Stock Exchange.

In addition, the consortium will be able to appoint a new
management board after the last transaction has been completed,
but must retain TPSA's current chairman, Pawel Rzepka. The
consortium will be represented by five members on TPSA's new
management board. Furthermore, the consortium agreed not to cut
any jobs from TPSA's bloated workforce of 71,000 for 40 months.

TPSA has about 10 million fixed-line phone subscribers in Poland
and controls about 96% of the Polish calling market. France
Telecom has a decade-long involvement with TPSA through their
jointly owned mobile unit Centertel, in which the French company
has a 34% stake and TPSA holds 66%. Centertel has 1 million
subscribers in Poland. In addition, TPSA provides 80% of internet
access to users in Poland. France Telecom, the largest telecom
operator in France, offers telephony services in 75 other
countries and has more than 58 million fixed-line and mobile
subscribers worldwide. The French firm has about 1.5 million
internet access subscribers in its home country.

Besides the 35% stake held by the consortium, the remaining
shares of TPSA are owned by the government (35%), private
investors (15%) and employees (15%).


===========
R U S S I A
===========

ONAKO OIL:  Roadblocks Stand in the Way of Sale
-----------------
SKRIN "Issuer"  August 1, 2000

The auction on sale of 85% stake in ONAKO may be frustrated, a
representative of Russian Property Fund said. According to him,
earlier, attempts to wreck big auctions on sale of state-owned
property occurred too.

This harms the state interests, but "the Fund hopes the auction
on sale of ONAKO stake will take place without insurmountable
obstacles", Azat Shamsuarov , ONAKO President, said.

He has negative attitude towards the sale of the whole state-
owned stake in ONAKO.


===========================
U N I T E D   K I N G D O M
===========================

ALFRED A SAXON LTD:  Liquidation proceedings
--------------------------
Company Name:   Alfred A Saxon Ltd
Company No:   3309182
Com. Business:   General Builders
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Alan Simon  IPno: 8635    
Firm Name:   Langley & Partners
Address:   Langley House  Park Road
City Postcode:   London  N2 8EX


ASTON VILLA:  Posts ?4.8m Full Year Loss
-----------------
THE TIMES August 2, 2000

Aston Villa, the quoted Premiership football club, yesterday
blamed a sharp rise in player salaries and amortisation of player
contracts for a full-year loss of ?4.8 million.

The result, which compares with pre-tax profits of ?20.2 million
last year, came on turnover of ?35.8 million, up from ?34.9
million.

Operating profits for the year to May 31, before amortisation of
players' contracts, fell from ?9.7 million to ?5.4 million.
Despite the slide into the red, the final dividend remains 6.6p,
making 8.8p.

Doug Ellis, chairman, said that salaries had risen 24 per cent.
"Losses for investing years can be absorbed in the short term,
but cannot be a longer-term norm," he said.

During the year Aston Villa received planning approval for an
hotel and an extension to its Villa Park stadium that will
increase capacity by 11,000 to 50,000 seats.

The shares fell 10p to 365p.


CENTRAL & CITY (STAR) LTD:  Liquidation proceedings
--------------------------
Company Name:   Central & City (Star) Ltd
Previous Name:   Treatstart Ltd
Company No:   2254038
Com. Business:   Property Dealers/Management
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Henry Lan  IPno: 8188    
Firm Name:   David Rubin & Co
Address:   Pearl Assurance House  319 Ballards Lane
City Postcode:   London  N12 8LY


CHARLIE MCNAIR LTD:  Liquidation proceedings
--------------------------
Company Name:   Charlie McNair Ltd
Company No:   SC
Com. Business:   
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors
Liquidators:   Matthew P Henderson  IPno: 6884    
Firm Name:   Grant Thornton
Address:   1/4 Atholl Crescent
City Postcode:   Edinburgh  EH3 8LQ


COLING CORPORATION LTD:  Liquidation proceedings
--------------------------
Company Name:   Coling Corporation Ltd
Company No:   2908748
Com. Business:   Building Contractors
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   David Wald  IPno: 3598    
Firm Name:   D Wald & Co
Address:   18 Sapcote Trading Centre  Dudden Hill Lane
City Postcode:   London  NW10 2DH


COMBINED SERVICE PUBLICATIONS LTD:  Liquidation proceedings
--------------------------
Company Name:   Combined Service Publications Ltd
Company No:   635095
Com. Business:   Publishing Co
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors
Liquidators:   Clive R Hammond  IPno: 4052    
Firm Name:   Pridie Brewster
Address:   29-31 Grenville Street
City Postcode:   London  EC1N 8RB


COMMUNITY DEVELOPMENTS (MIDLANDS) LTD:  Liquidation proceedings
--------------------------
Company Name:   Community Developments (Midlands) Ltd
Company No:   3476497
Com. Business:   Sale of Real Estate
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Robert Cooksey  IPno: 9040  Jonathan Lord  9041
Firm Name:   Casson Beckman & Partners
Address:   8 Tib Lane
City Postcode:   Manchester  M2 4JB


DARBY BROTHERS CONSTRUCTION LTD:  Liquidation proceedings
--------------------------
Company Name:   Darby Brothers Construction Ltd
Company No:   3028989
Com. Business:   Construction
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors
Liquidators:   Christopher J Lamey  IPno: 4480    
Firm Name:   C J Lamey & Co
Address:   Zealley House  Greenhill Way
City Postcode:   Newton Abbot  TQ12 3SB


DRURY VINCENT LTD:  Liquidation proceedings
--------------------------
Company Name:   Drury Vincent Ltd
Previous Name:   PRI Designs Ltd
Company No:   SC171193
Com. Business:   Interior Design
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors
Liquidators:   Bryan A Jackson  IPno: 5194    
Firm Name:   Pannell Kerr Forster
Address:   78 Carlton Place
City Postcode:   Glasgow  G5 9TH


ESSENTIAL EQUIPMENT FINANCE LTD:  Liquidation proceedings
--------------------------
Company Name:   Essential Equipment Finance Ltd
Company No:   3632515
Com. Business:   Finance Brokers for IT Suppliers
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors
Liquidators:   Salman Saud  IPno: 6042    
Firm Name:   Rifsons Saud
Address:   105-111 Euston Street
City Postcode:   London  NW1 2EW


EXECUTIVE & MANAGEMENT RESOURCES LTD:  Liquidation proceedings
--------------------------
Company Name:   Executive & Management Resources Ltd
Company No:   3114763
Com. Business:   Recruitment Consultants
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Kikis Kallis  IPno: 4692    
Firm Name:   Kallis & Co
Address:   Mountview Court  1148 High Road  Whetstone
City Postcode:   London  N20 0RA


FESTIVE LTD:  Liquidation proceedings
--------------------------
Company Name:   Festive Ltd
Company No:   3424506
Com. Business:   Restaurant & Public Bar
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Gerard N Ratcliffe  IPno: 8666    
Firm Name:   Ratcliffe & Co
Address:   7 Chorley New Road
City Postcode:   Bolton  BL1 4QR


GAVIN MOULDERS LTD:  Liquidation proceedings
--------------------------
Company Name:   Gavin Moulders Ltd
Company No:   2864718
Com. Business:   Other Service Activities
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Duncan R Beat  IPno: 8161    
Firm Name:   Morison Stoneham
Address:   Moriston House  75 Springfield Road
City Postcode:   Chelmsford  CM2 6JB


GREAT UNIVERSAL : To Close Car Lending Business
---------------------------
FINANCIAL TIMES August 1,2000

GREAT Universal Stores is to close down its car lending operation
- placing 600 jobs at risk - after failing in a second attempt to
sell the business.

However, the group's vehicle contract hire division, which was
also on the auction block, has been sold to Abbey National for
?170 million.

After failing to dispose of the businesses two years ago, GUS
again hoisted the "for sale" sign over General Guarantee Finance
and Highway Vehicle Management in March to allow the company to
focus on catalogue shopping, information services and e-commerce.

David Tyler, finance director, said that despite receiving "a
number of offers" for GGF, management felt that winding down the
business was the most cost effective route.

Mr Tyler described the decision as "painful", but said that GUS
could expect
to make a small profit from the closure, which will take three
years.
More than 400 people will lose their jobs by the end of the year
although it is hoped some will be redeployed.


HANOVIA PROPERTY LTD:  Liquidation proceedings
--------------------------
Company Name:   Hanovia Property Ltd
Company No:   2888276
Com. Business:   Management of Real Estate
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors
Liquidators:   Kian Seng Tan  IPno: 8032    
Firm Name:   K S Tan & Co
Address:   10-12 New College Parade  Finchley Road
City Postcode:   London  NW3 5EP


HERON RESEARCH LTD:  Liquidation proceedings
--------------------------
Company Name:   Heron Research Ltd
Company No:   3291979
Com. Business:   Development/Marketing of Incubators
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   I E Walker  IPno: 6537    
Firm Name:   Begbies Traynor
Address:   Balliol House  Southernhay Gardens
City Postcode:   Exeter  EX1 1NP


HYDER: WPD Increases Its Bid
----------------------
FINANCIAL TIMES August 1,2000

The takeover battle for Hyder, the troubled Welsh multi-utility,
rumbled on on Tuesday as Western Power Distribution of the US
leapfrogged a renewed offer from Nomura, the Japanese investment
bank, with a ?526m ($788m) bid.

Nomura made a widely expected increased offer for Hyder on
Tuesday morning through its specially created subsidiary St David
Capital. Guy Hands, managing director of Nomura's principal
finance group, had hoped the 320p-a-share bid, valuing Hyder at
?495m, would strike the killer blow to WPD's 300p offer.

But WPD, which is a joint venture between Philadelphia Power and
Light and Southern Company, increased its offer later on Tuesday
to 340p a share, a 6.3 per cent premium to Nomura's bid. Hyder's
shares jumped more than 7 per cent following the news to 346-
1/2p.

Hyder's board earlier on Tuesday had recommended Nomura's offer
and said it would drop plans for a "people's bid" from a new non-
profit company called Glas Cymru.

Despite this a WPD official said it remained confident that it
could secure Hyder while still retaining value in the deal for
its shareholders.

"Since our original offer we have had Hyder's financial figures,
which have clarified a few points. We also consider ourselves to
be in a better position, as a utility, to run Hyder than Nomura,
which is a bank," he said.

He pointed out that Hyder's directors had previously recommended
Nomura's 260p bid to shareholders but had then reversed this
advice to a "wait and see" approach when WPD offered a higher
price.

WPD's bid is thought to be more risky than Nomura's because it
needs regulatory clearance for plans to contract out the
operation of Hyder's water utility to United Utilities, a rival
British group. A decision from the competition authorities is
expected within days.

A source close to Hyder said directors were meeting on Tuesday
afternoon to consider the latest development but were unlikely to
make any immediate statement.

"My view is that they will now go back to advising no action
until the regulator's decision has been made," the source said.

Standard & Poor's, the rating agency, reacted negatively earlier
in the day to Nomura's increased bid. It said some of Hyder's
debt could be classed as junk bonds after a review of Nomura's
business plan showed lower debt coverage levels and higher
leverage than had been first anticipated.

Debt issued by the holding company, Hyder Plc, is likely to be
rated at "BB plus", below investment grade. Operating company
bonds will be rated just above this cut-off point at "BBB minus".

The spreads, or risk premia, on Hyder bonds have nearly doubled,
to around 400 basis points over gilts, since Nomura made its
first bid in April.


HYDER: Rating Could Hit UK Water Bonds
---------------------------
REUTERS & YAHOO August 1,2000

Holders of Hyder bonds warned on Tuesday that a threat by
Standard & Poor's Corp. to slash their debt rating to junk level
if a proposed buyout goes ahead, could raise funding costs for
utility companies.

They said such a move by the U.S. credit rating agency would
ripple throughout the UK water sector, where companies faced with
massive bills for investment are struggling to raise funds by
issuing bonds or shares.

Investors also want Japanese investment bank Nomura Securities,
seen as the likely winner of a takeover battle for Hyder, to
explain more clearly its plans for the troubled Welsh multi-
utility.

"Nomura has not been very forthcoming with bondholders about what
it has planned. Obviously there is a serious concern that if it
is very detrimental (to bondholders' interests) it will be that
much harder for other companies to tap the bond market," said one
Hyder bondholder.

Holders of bonds issued by Hyder and its subsidiaries, regulated
utilities South Wales Electricity (Swalec) and Welsh Water, have
viewed a Nomura victory with dismay.

They fear the investment bank will finance the takeover by
selling bonds backed by ("securitising") revenues from Welsh
Water and Swalec, reducing current bondholders' claims on those
cashflows.

Nomura has said it has no plans to securitise the business but
its Principal Finance Group, whose St. David Capital vehicle
launched the Hyder bid, has often used the technique to refinance
past acquisitions.

S&P CUTS FOLLOW HIGHER NOMURA BID

S&P said it expects to slash Hyder's debt rating to double-B-
minus -- below investment grade -- if Nomura's 495 million pound
takeover bid succeeds.

Its statement followed a unanimous recommendation by Hyder's
board that shareholders accept Nomura's increased offer of 320
pence per share. Later on Tuesday, rival bidder Western Power
Distribution (WPD), which is owned by U.S. utilities PPL Corp.
and Southern Co., said it would raise its bid to 340 pence per
share, or 526 million pounds in total.

Nomura is seen as the more likely victor, however, as its plan
for the business poses fewer potential regulatory problems.

S&P also said it would cut Hyder's corporate credit rating and
ratings on bonds issued by Swalec and Welsh Water to triple-B-
minus, the lowest investment-grade rating. Hyder's debt is
already structurally subordinate to that of the utilities: hence
S&P's decision to rate it one notch below the company's corporate
credit rating.

All Hyder entities are currently rated single-A by S&P, although
they have been under review for a downgrade since the government
regulator enforced sharp price cuts last August.

Hyder's equity and debt prices have fallen sharply since the
regulatory review, which left it struggling to meet statutory
investment targets and service around 1.8 billion pounds of debt.

Turnover for the fiscal year which ended on March 31 totalled
about 780 million pounds, while profits after tax were just 75
million pounds.

Bondholders' preferred option would have been a break-up of
Hyder, with the two regulated subsidiaries disposed of
separately. Such a strategy would have triggered covenants on
Hyder's 540 million pounds of bonds, entitling holders to early
redemption at face value.

Speculative buying in anticipation of a break-up actually pushed
Hyder's bonds higher early this year, although hopes faded when
Nomura's interest became known.

The cost of redeeming the bonds caused Hyder to reject a break-up
initially, but the company announced two weeks ago that it would
re-examine the option after bondholders indicated they might be
prepared to negotiate around the covenants. The bondholders' move
was viewed as a last-ditch attempt to head off a takeover likely
to be accompanied by deep ratings cuts.

A new non-profit company, Glas Cymru, was reported on Monday to
have made a bid for Welsh Water, but Hyder said on Tuesday the
break-up solution was dead.

Hyder's bonds are largely illiquid and dealers said there had
been little or no trading activity on Tuesday. They gave an
indicative risk premium of more than 400 basis points (4 percent)
over Gilts for the company's bonds, up to 200 basis points wider
from mid-April, just before Nomura launched its bid. Other water
bonds held steady.

"It's been clear for some time that the status quo can't be
maintained given these companies' investment bills and the
regulator's price cuts, and (many felt) it was credit ratings
that had to give," said one sector analyst.

He said S&P's surprise proposal to cut Hyder's debt to junk
levels might increase the spread gap between other operating
companies and their regulated utilities, which must by law remain
investment-grade.


HYDER:  Shares Surge as Takeover Battle Rages
-------------------------------
ANANOVA August 1,2000

Hyder, the Welsh utility group, are up more than 5% as its two
suitors step up their efforts to win control of the company.

Earlier the tug-of-war for Hyder seemed to have been won after
its board said it had accepted Japanese investment bank Nomura's
updated ?495 million, or 320p-a-share, offer.

But Hyder's shares are now up to 340p after rival bidder US-
controlled utilities group Western Power Distribution (WPD) said
it is considering trumping Nomura's offer.

Nigel Hawkins, utilities analyst at stockbrokers Williams de
Broe, said: "It now seems as if we are close to the end game at
Hyder. We need a final resolution quickly because the company
needs a substantial cash injection."

Mr Hawkins adds that any new approach from WPD could still
encounter regulatory concerns from the Competition Commission,
which could force it "to throw in the towel".

"The only certainty is that Hyder will not retain its
independence for much longer," added Mr Hawkins.

Hyder also said today it was abandoning the possibility of
breaking up the company, an idea it had put forward as a
potential alternative to a takeover.

The battle for Hyder began in April when Nomura, through its
specially created investment vehicle St David Capital, originally
offered 260p a share for Hyder., but a month later this was
topped by a 300p a share bid from WPD.


LAKENHEALTH PROPERTIES LTD:  Liquidation proceedings
--------------------------
Company Name:   Lakenheath Properties Ltd
Company No:   2277859
Com. Business:   Development/Sale Real Estate
Appointed on:   12/07/00
Type:   Members
Appointed by:   Members
Liquidators:   D L Platt  IPno: 2669    
Firm Name:   Sorskys
Address:   Gable House  239 Regents Park Road
City Postcode:   London  N3 3LF


LINKSERVE SYSTEMS LTD:  Liquidation proceedings
--------------------------
Company Name:   Linkserve Systems Ltd
Company No:   3624963
Com. Business:   Manufacture Pine Furniture
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Bhagu Mistry  IPno: 5762    
Firm Name:   B Mistry & Co
Address:   Pride House  Rectory Lane
City Postcode:   Edgware  HA8 7LG


MAINAVON LTD:  Liquidation proceedings
--------------------------
Company Name:   Mainavon Ltd
Company No:   239764
Com. Business:   Manufacture of Furniture
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Robert Cooksey  IPno: 9040  Jonathan Lord  9041
Firm Name:   Casson Beckman & Partners
Address:   8 Tib Lane
City Postcode:   Manchester  M2 4JB


MALMAISON HOTEL:  MWB to Acquire Hotel Chain for ?80 Million
--------------------------
THE TIMES August 2,2000

MARYLEBONE Warwick Balfour, the property group that recently
acquired London's Liberty department store, is frontrunner to buy
the Malmaison Hotels chain for more than ?80 million.

MWB is understood to have beaten off competition from Sol Meli?,
the Spanish hotel operator that last year acquired London's White
House Hotel, and a management buyout team backed by Bridgepoint
Capital, the venture capitalist formerly known as NatWest Equity
Partners.

It is not known whether MWB aims to keep the management team led
by Roy Tutty, a former Forte Hotels executive, or to seek outside
management. There is speculation that it has held talks with
Radisson SAS Hotels, part of Scandinavian Airlines System, over a
possible contract to run the Malmaison chain.

Malmaison, which has hotels in Glasgow, Edinburgh, Newcastle,
Leeds and Manchester and development sites in Birmingham and
London, had been put up for sale by Wyndham International, the
cash-strapped US group, through UBS Warburg.

Wyndham, which emerged from the ash of Patriot American
Hospitality, is also a joint venture partner in London's Great
Eastern Hotel. Its other UK chain, Arcadian Hotels, was sold to
Guy Hands, the Nomura financier, for an estimated ?75 million
last year.

MWB is involved in the hotel sector through a number of
development projects in London, including a ?110 million Marriott
hotel at Park Lane and a ?50 million Sofitel in Pall Mall. In
March it acquired the Howard Hotel, on the Embankment, for ?40
million with Swiss"tel.

None of the parties involved would comment.


MIDDLE EAST MARKET & COMMUNICATION LTD:  Liquidation proceedings
--------------------------
Company Name:   Middle East Market & Communication Ltd
Company No:   2449824
Com. Business:   Advertising Agency
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Guy C Harrison  IPno: 8001    
Firm Name:   Crane & Partners
Address:   Rutland House  44 Masons Hill
City Postcode:   Bromley  BR2 9EQ


NET-TEC (UK) LTD:  Liquidation proceedings
--------------------------
Company Name:   Net-Tec (UK) Ltd
Company No:   3898367
Com. Business:   Manufacturers of Net Products
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Andrew J Nichols  IPno: 8367    
Firm Name:   Redman Nichols
Address:   Maclaren House  Skerne Road
City Postcode:   Driffield  YO25 6PN


OAKLAND JOINERY CONTRACTS LTD:  Liquidation proceedings
--------------------------
Company Name:   Oakland Joinery Contracts Ltd
Previous Name:   Acorn Joinery Contracts Ltd
Company No:   3380315
Com. Business:   Joinery Manufacturers/Contractors
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Stephen L Conn  IPno: 1762    
Firm Name:   Stephen Conn & Co
Address:   17 St Anns Square
City Postcode:   Manchster  M2 7PW


QUEENS MOAT:  Hotel Group Raises Borrowing
----------------------
FINANCIAL TIMES August 1 2000

Queens Moat Houses, the heavily indebted hotel group, on Tuesday
took out additional borrowings from new lenders, which, it said,
would enable it to meet commitments without starving the business
of investment.

The financing allows the company to repay senior term debt of
?56m by the end of the year without recourse to the market.

NIB Capital Bank and ABN Amro have agreed to provide E145m (?90m)
secured against the assets of Bilderberg Hotels, Queens Moat's
Dutch business. Payment of costs and repayment of Bilderberg debt
will leave net proceeds of E125m. The seven-year debt will
amortise at 6.67 per cent a year.

Queens Moat will also repay E64m of junior term debt, using cash
in its balance sheet.

The interest rate on the junior term debt will rise from 7.5 per
cent to 8.25 per cent and the final repayment date has been
brought forward a year to December 31 2005.

Andrew Le Poidevin, finance director, said the changed terms
would increase the cost of the junior term debt but would
strengthen the balance sheet and allow the group to invest
surplus cash in new businesses.

Queens Moat said in March it hoped to avoid going to the market
to repay the senior term debt, which it hoped to settle out of
disposals, free cash flow and refinancing.

It returned to net assets this year for the first time since its
near-collapse in the early 1990s. Net liabilities, which once
stood at ?449m, have fallen steadily since a 1995 debt
restructuring.

Net assets were ?27m on January 2, against net liabilities of
?27m the previous year.


QUEENS MOAT: On the Edge of Debt Repayment
-----------------------
FINANCIAL TIMES August 1,2000

QUEENS Moat Houses is on the verge of repaying its senior-term
debt - a significant step in the hotel group's return to
normality following its near collapse in 1993 under the weight of
?1.4 billion in debt.

The group, which has used disposals previously to whittle down
its borrowings, said yesterday it had completed a refinancing
through its Dutch subsidiary, Bilderberg Hotels, that would
produce net proceeds of ?77 million.

The money, together with cash resources of ?51 million, will be
used to repay the outstanding senior debt of ?56 million due by
the end of the year. It will also help to pay ?40 million of
QMH's junior-term debt, well ahead of the repayment deadline.

The group has agreed also to cut the deadline by a year to
December 31, 2005 for repayment of the remaining ?220 million of
junior debt. Andrew Le Poidevin, finance director, said: "I'd
like to think we could beat 2005."

Analysts believe total group borrowings have fallen to less than
?650 million.

Mr Le Poidevin said: "We have achieved something many people said
we couldn't achieve without a major financial restructuring or
the sale of another of our divisions.

"This is evidence of the quality of the business and a general
move to our balance sheet being rehabilitated."


S & T MERCHANTS (EDMONTON) LTD:  Liquidation proceedings
--------------------------
Company Name:   S & T Merchants (Edmonton) Ltd
Company No:   2713980
Com. Business:   Builders Merchants
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors
Liquidators:   D L Platt  IPno: 2669    
Firm Name:   Sorskys
Address:   Gable House  239 Regents Park Road
City Postcode:   London  N3 3LF


STORM HOLDINGS LTD:  Liquidation proceedings
--------------------------
Company Name:   Storm Holdings Ltd
Previous Name:   Carlton Ventures Ltd
Company No:   2980990
Com. Business:   Printing
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Peter J Bridger  IPno: 7827    
Firm Name:   Bridgers
Address:   47 London Street
City Postcode:   Reading  RG1 4PS


THOMSON DIRECTORIES:  Italian Yellow Pages Publisher Buys Thomson
---------------------------
EUROPEAN INVESTOR & REUTERS August 1, 2000

Italian yellow pages publisher Seat said on Tuesday it would buy
100 percent of the owner of Britain's Thomson Directories in an
all-share deal worth 501 million euros, furthering Seat's
international expansion push.

The deal comes hot on the heels of Seat's announcement on Monday
that it had signed an accord to acquire French database provider
Consodata for 633 million euros ($588 million) -- also in an all-
share move.

Both deals highlight aggressive expansion in Seat's core business
as it plays catch-up with European consolidation in the once-
staid business of making phone books. These now offer an
appetising platform for connecting businesses on the Internet.

"The purchase of Thomson Directories is another step for Seat
towards its goal of international expansion, with the aim of
creating a pan-European Internet player specialising in business
content for companies and platforms for distributing services and
products," Pellicioli said in a statement.

Industry sources said Seat's board would likely meet in early
September to calculate how many shares would have to be issued
and call a special shareholders' meeting.

Seat shares closed fractionally up on Tuesday at 3.779 euros. At
that price Seat would have to issue 132 million shares to pay for
Thomson, diluting its capital by some two percent.

Thomson Directories is the UK's second-largest directories firm
with a market share of some 16 percent.

It was bought out in 1999 by management and a number of venture
capitalists who were in turn approached by a number of suitors
including Seat earlier this year, industry sources said.

Seat is buying stakes belonging to funds administered by Apax
Partners & Co., Advent International and 3i, as well as several
Thomson managers. It will also assume the group's debt.

"With the support of Seat, Thomson is well positioned to further
strengthen its market share and intends to continue pursuing its
strategy of offering high quality information products by using
its rich database of companies in the United Kingdom," said TDL
Infomedia CEO Gary List in the statement.


USK GROUNDWORKS LTD:  Liquidation proceedings
--------------------------
Company Name:   USK Groundworks Ltd
Previous Name:   Sectormedia Ltd
Company No:   3539254
Com. Business:   Groundworks Contractor
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Peter R Dewey  IPno: 7806    
Firm Name:   KTS Dewey
Address:   17 St Andrews Crescent
City Postcode:   Cardiff  CF10 3DB


UNIVERSAL (UK) LTD:  Liquidation proceedings
--------------------------
Company Name:   Universal (UK) Ltd
Company No:   2066394
Com. Business:   Securities Brokerage
Appointed on:   12/07/00
Type:   Members
Appointed by:   Members
Liquidators:   Martin Fishman  IPno: 6470  Roy Bailey  8357
Firm Name:   Arthur Andersen
Address:   1 Surrey Street
City Postcode:   London  WC2R 2NT


V W TRAINING LTD:  Liquidation proceedings
--------------------------
Company Name:   V W Training Ltd
Previous Name:   The Advances Training Academy Ltd
Company No:   3615094
Com. Business:   IT Training Courses
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors
Liquidators:   Salman Saud  IPno: 6042    
Firm Name:   Rifsons Saud
Address:   105-111 Euston Street
City Postcode:   London  NW1 2EW


VALUE ADDED SERVICES LTD:  Liquidation proceedings
--------------------------
Company Name:   Value Added Services Ltd
Previous Name:   Roundclever Ltd
Company No:   2843665
Com. Business:   Print Brokers
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Paul M McConnell  IPno: 7802    
Firm Name:   Monahans Ledbury Martin
Address:   38-42 Newport Street
City Postcode:   Swindon  SN1 3DR


WEYERHAEUSER (IRELAND) LTD:  Liquidation proceedings
--------------------------
Company Name:   Weyerhaeuser (Ireland) Ltd
Company No:   IR
Appointed on:   12/07/00
Type:   Members
Appointed by:   Members
Liquidators:   Simon Butler  IPno:     
Firm Name:   Bates Butler
Address:   Kingston House  64 Patrick Street
City Postcode:   Dun Laoghaire  


WHISPERGOLD SALES LTD:  Liquidation proceedings
--------------------------
Company Name:   Whispergold Sales Ltd
Company No:   2696966
Com. Business:   Garment Manufacturers
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   Ashok Kumar  IPno: 4640    
Firm Name:   Bhardwaj
Address:   47-49 Green Lane
City Postcode:   Northwood  HA6 3AE


WIRRAL MANUFACTURING LTD:  Liquidation proceedings
--------------------------
Company Name:   Wirral Manufacturing Ltd
Company No:   3587004
Com. Business:   Engineers
Appointed on:   12/07/00
Type:   Creditors
Appointed by:   Creditors and Members
Liquidators:   David R Wilton  IPno: 5708  Timothy G Walsh  8371
Firm Name:   PricewaterhouseCoopers
Address:   Cornwall Court  19 Cornwall Street
City Postcode:   Birmingham  B3 2DT



S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter -- Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
USA, and Beard Group, Inc., Washington, DC USA.  Lexy Mueller,
Mercy Villacastin and Cristina Pernites Editors.

Copyright 2000.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing  and photocopying) is strictly prohibited without
prior written permission of the publishers.  

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Europe subscription rate is $575 per half-year, delivered
via e-mail.  Additional e-mail subscriptions for members of the
same firm for the term of the initial subscription or balance
thereof are $25 each.  For subscription information, contact
Christopher Beard at 301/951-6400.


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