News Throughout Llanowar
County AbbreviationsAY = Ayrshire
DS = Dublinshire
MC = Manchestershire
NP = Newportshire
Associated PressConglomerate Restructures before Split on 31 Oct 2700
Airline Mergers Abound(Reuters) ? Mere days after Ottawa-based Pinnacle Airways Limited ("Pinnacle Airways") completed its acquisition of Cornwall-based Southern Wings Ltd., Pinnacle, itself, was acquired by Wrexham-based regional carrier Llanowar Airways Ltd. ("Llanowar Airways") for $88 million. The purchase of Pinnacle left its former parent, Pinnacle Travel Company Ltd. ("Pinnacle Travel") holding only a travel agency and a royalties fund.
Having completed its due diligence on both parties in the above transaction, Royal Ayr-based flyL Limited announced the proposed acquisition of Llanowar Airways, proposed consolidation of its intellectual property holdings and royalties fund into Dragon Airways Limited, and preliminary negotiations with Pinnacle Travel to licence the trademarks related to Pinnacle Airways on its pre-Llanowar Airways merger routes. When asked about the reasoning behind, possibly, licencing the trademarks, Nathan Isner, flyL's Managing Director, said, "Pinnacle Airways is are longest-standing partner in the Dragon Airways Royalties Fund. This would make economic sense for both companies."
Comic Publishers Break Away(Business Wire) ? Two publishers of creator-owned comic books broke away from their parent companies within an hour of each other earlier today.
Hyun-li Park, Lesley Fitzgerald, Nana Fukui, and Stan Davis paid an undisclosed sum to Time Limited for the Vertigo Comics name and the intellectual property related thereto. Shortly thereafter, the four set up the offices of Vertigo Comics L. P. in Utica, County Ayr.
A similar transaction led to the creation of Tokyopop L. P. by Harry Evans, Jane Wilson, Kaede Miyamoto, and Margaret Lee. Tokyopop had been affiliated with Ironwood Limited before that.
Conglomerate Restructures before SplitNottingham, DS (AP) ? One of Llanowar's largest conglomerates, Ntek Limited, made several announcements at a presser earlier today.
The first series of announcements involved a restructuring. The presser started off with the company's Managing Director, David Lawrence, announcing the removal of its Ntek Group subsidiary from the Ntek Holdings ("Holdings") umbrella and affecting the consolidation of its Vetrix subsidiary into Holdings, with Vetrix as the surviving entity. The final restructuring announcement was the name change of its Ntek Labs subsidiary to ProtoLabs. When asked about the restructuring, Mr. Lawrence said, "The restructuring will allow Ntek Group to focus on human health."
The final announcement was a split between Ntek and its Quantum subsidiary. The split will be structured so AntG Quantum will spin off a new Ntek.
Football Club EmergesBradford, Bradford Township, MC (AP) ? Bradford Forest F. C. came out of about three weeks of administration earlier today after its administrator, Francis Dench, approved the Company Voluntary Agreement (CVA). The major part of the CVA was a sale to an ownership group headed by Olan Green, who acquired 50% plus one share of the club. The group's other members are David Crestmere, who got 30% minus one share, and The Lumberjacks' Supporters' Trust, who got 20%.
Class Action Suit Causes AdministrationDublin, MC (Newswire) ? Jos. A. Bank Clothiers Ltd. ("the company"), operator of the Jos. A. Bank Clothiers chain, filed for administration in Manchestershire High Court after several lawsuits regarding their additive value sale pricing were granted class action status. Her Ladyship Karen L. Beattie was appointed administrator of the company. The company was able to file a Continuance Motion to allow it to remain open and pay employees while in administration, which was approved, because the company was solvent when it filed the paperwork.
Clothiers MergeDublinshire (Business Wire) ? Mack Clothiers Limited ("Mack Clothiers"), operator of the Mack Clothiers chain, closed its acquisition of bankrupt clothier Avenue Stores Limited ("Avenue"), which specializes in special-sized clothing for men and women, earlier today. This transaction brought Avenue out of administration. As part of the merger agreement, Mack Clothiers changed its name to Mack Holdings Limited ("Mack Holdings"). When asked about the name change, Jeannie Mack, Managing Director of Mack Holdings, said, "The name change from Mack Clothiers to Mack Holdings better reflects the company's more diversified offerings while allowing us to keep brands that we acquire separate from our flagship brand if we so desire."