05 May 2019
Firstport Restructure.
The struggling Firstport group, having had their backers pull out and having failed to find a buyer for their ailing business have been forced into a restructure of their operations.
They have called in Lucid Trustee Services who are specialists in restructuring arrangements for companies in distress.
As part of the package, Firstport have had to agree to a debenture against their assets in their entirety.
Lucid also act on behalf of investors, so it is not known at this stage who actually has put the funds into the business.
What is for certain is that only businesses in severe trouble would ever use this option.
