16.04.2004

Independent Access Supplies update

"It is business as usual at Independent Access Supplies," according to KPMG, the administrator appointed last week to assist Independent with the restructuring of the company's finances.

The Vertikal Press has received a good number of e-mails and calls asking if there is more information on what is happening at the UK's third largest powered access rental company, Independent Access.

A number of the calls cited claims and rumours, some of which were quite extreme, and as is often the case in this situation, had no substance behind them at all. Some are clearly intentional efforts by competitors to undermine a business while it is down.

KPMG corporate recovery, the administrator appointed last week, stated that "it is business as usual at Independent, or, as close to usual as it can be under the circumstances," and that "KPMG specialized staff are working with the company to help restructure its finances."

A KPMG spokesman also said that under the new enterprise scheme there is an obligation on administrators to try and find a way to restructure and rescue a business in trouble, rather than simply move to sell or liquidate it.

When we receive further news or information, it will appear in these columns. See Vertikal.net report April 8, 2004 for more information.