UK - Leading AV supplier McMillan UK Ltd has gone into receivership. At the request of the company's directors, Blair Nimmo and Neil Armour of KPMG Corporate Recovery have been appointed joint receivers. Headquartered in Arbroath, the business has 10 offices supplying audio, video, and visual communications equipment to the broadcast, post-production and presentation markets across the UK and Ireland.

Established in 1982, the business employs approximately 140 staff, with an annual turnover of £20 million to the year ended 30 June 2003. Blair Nimmo, KPMG Corporate Recovery Partner said: "The business has experienced trading difficulties due to the general economic downturn which has continued to affect the advertising and related industries. Fortunatel, McMillan enjoys a good reputation within its marketplace and has a portfolio of high profile customers; therefore we are confident that we can continue to trade the business as a going concern while looking for a buyer."

(Sarah Rushton-Read)


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