Charterhouse goes into adminstration

B2B publisher Charterhouse Communications has gone into administration after failing to find funding for its mortgage and investment titles.

The publisher of What Mortgage and Mortgage Introducer had blamed the credit crunch on a fall in revenues, which saw its share price drop to below 0.5p in the last six months.

It stopped trading on the stock exchange in February and lost its broker, Landsbanksi Securities, last month.

A total of 35 staff work across all Charterhouse’s business, which also includes bookselling and events.

A spokesman for Charterhouse administrators KPMG said they were currently in discussion with one interested party but declined to say what parts of business were included in the talks.

Administrators for the business are David John Crawshaw and Myles Antony Halley of KPMG LLP.

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