Latest news with #Quantuma
BBC News
a day ago
- Business
- BBC News
Former Hexham Workhouse from 19th Century up for sale
A 19th Century workhouse, which has been described as a "bit of a blot", is being former Hexham Workhouse on Corbridge Road, which dates back to 1839, served as housing for the destitute until 1939 before it was made part of the old Hexham Hospital. It has stood empty for more than a Landwood said the Northumberland property, which has an asking price of more than £800,000, should "generate plenty of interest". The site is being sold following the collapse of its previous owners the 79th Group, which fell into administration amid a fraud investigation by the City of London Police. The Southport-based company has denied any wrongdoing, the Local Democracy Reporting Service building is being sold by the company's administrators councillor Derek Kennedy said he hoped a new developer would be able to make the most of the historic said the building's lack of use had been a "bit of a blot for the town"."We had high hopes for the 79th Group – we met with them on a few occasions and they laid out their plans," he said."There was some interesting proposals for housing but they never came to fruition."He said a developer could make "something spectacular" with the site. "We do like developments that use old buildings," he said. Follow BBC North East on X, Facebook, Nextdoor and Instagram.
Yahoo
24-06-2025
- Business
- Yahoo
Canadian businessman completes Dumbarton purchase
Canadian electronics businessman Mario Lapointe has completed his purchase of Dumbarton. Dumbarton were relegated from Scottish League 1 last season after finishing bottom of the table following a 15-point deduction for going into administration. Advertisement Earlier this month, administrator Quantuma said the club - formed in 1872 - would be dissolved and replaced with Dumbarton Football Club 1872 Ltd, a new company wholly owned by Lapointe. An agreement had been reached with the Scottish Professional Football League to allow Lapointe to take control and play in League 2 next season - and it was hoped to have the approval of the Scottish FA by Tuesday's SPFL annual meeting. Now Quantuma managing director Ian Wright has revealed the sale of the club is complete. "So many people have helped to get to this conclusion, but most importantly has been the support of the fans," he said. Advertisement "We wish Mario and everyone involved with the club every success for the season ahead and for the longer-term future of the Sons." Lapointe, co-owner and technical director of electronics contract manufacturer SMT-ASSY in Pointe-Claire, Quebec, had stepped in to save the club after ill health forced the collapse of a deal with Oxford-based businessman Gareth Phillips. The new owner will visit Dumbarton next week for the first time since agreeing the takeover and supporters and sponsors will have three opportunities to attend 'Meet Mario' events on Wednesday, 25 June. Dumbarton went into administration in November, when Quantuma said insolvency was the result of non-receipt of "significant" funds owed from the sale of land in 2021.
BBC News
24-06-2025
- Business
- BBC News
Canadian businessman completes purchase of Dumbarton FC
Canadian electronics businessman Mario Lapointe has completed his purchase of Dumbarton Football were relegated from Scottish League 1 last season after finishing bottom of the table following a 15-point deduction for going into this month, administrator Quantuma said the club, formed in 1872, would be dissolved and replaced with Dumbarton Football Club 1872 Ltd, a new company wholly owned by agreement had been reached with the Scottish Professional Football League to allow Lapointe to take control and play in League 2 next season - and it was hoped to have the approval of the Scottish FA by Tuesday's SPFL annual meeting. Now Quantuma managing director Ian Wright has revealed that the sale of the club is complete."So many people have helped to get to this conclusion, but most importantly has been the support of the fans," he said. "We wish Mario and everyone involved with the club every success for the season ahead and for the longer-term future of the Sons."Lapointe, co-owner and technical director of electronics contract manufacturer SMT-ASSY in Pointe-Claire, Quebec, had stepped in to save the club after ill health forced the collapse of a deal with Oxford-based businessman Gareth new owner will visit Dumbarton next week for the first time since agreeing to take over the club and supporters and sponsors will have three opportunities to attend "Meet Mario" events on Wednesday, 25 went into administration in November, when Quantuma said insolvency was the result of non-receipt of "significant" funds owed from the sale of land in 2021.
BBC News
12-06-2025
- Business
- BBC News
Dumbarton to become new company to exit administration
Dumbarton are to exit administration by becoming a new company and are hopeful of receiving the go-ahead from the Scottish Professional Football League and Scottish Football team have been relegated to League 2 after finishing bottom of the third tier following a 15-point deduction for going into the club, formed in 1872, will be dissolved and replaced with Dumbarton Football Club 1872 Ltd, a new company wholly owned by Canadian businessman Mario administrator Quantuma has reached an agreement with the SPFL that will allow the electronics entrepreneur to take control of the club and continue with them in Scotland's fourth tier next season. Dumbarton also need the Scottish FA to give its approval to the club's licence being passed to the new parties hope to have the relevant agreements in place before the SPFL's annual meeting on Tuesday, 24 faced a similar situation in 2012, but this time the rules state that Dumbarton only require the approval of the SPFL board rather than a vote among its of the original founding members of the Scottish League in 1890, Dumbarton went into administration in November, when Quantuma said insolvency was the result of non-receipt of "significant" funds owed from the sale of land in co-owner and technical director of electronics contract manufacturer SMT-ASSY in Pointe-Claire, Quebec, stepped in to save the club after ill health forced the collapse of a deal with Oxford-based businessman Gareth Canadian told fans on X this week that he is hopeful of laying a new artificial playing surface at their hopes this will allow the club to stand "on its own two feet" financially as it would pay for itself through extra revenue coming in as a result of the facility being used more days every wants the club's youth and women's teams to use the stadium.
The National
12-06-2025
- Business
- The National
Rescue plan set to see Dumbarton reformed as newco after liquidation
One of the original founding members of the Scottish League in 1890 the Sons plunged into administration in November. Hopes of exiting administration via a creditors voluntary agreement fell victim to time constraints, with concerns that a deal would be incomplete before the new season. Read more: A progress report by administrators Quantuma has now confirmed that the club formed in 1872 will now be dissolved and replaced by Dumbarton Football Club 1872 Ltd, a new company wholly owned by Canadian businessman Mario Lapointe. Owner of an electronic manufacturing service provider in Quebec sports fan and part-time musician Lapointe stepped into the breach after ill health forced the collapse of a deal with Oxford based Gareth Phillips. Docked 15 points after running out of money at the end of last year Dumbarton finished bottom of League One and were relegated. And while the oldco which retained the club's league share will now ceasing to exist the report states that the newco will be eligible to take its place in League Two after receiving a 'formal waiver' from the board of the SPFL. 'The proposed exit route (from administration) is now dissolution,' said the update. 'The administrators will seek approval from the creditors to this variation via a decision procedure usig the consent process and, assuming agreement is obtained, will file a notice of dissolution. 'A funding requirement of circa £140,000 was highlighted for the team to complete the season. This funding requirement increases to c. £200k when carried through to the end of June 2025. 'The shortfall has been funded by £118,384 raised by fans and the receipt of a £30,000 non refundable commitment fee which will be discussed further below. The balance of the shortfall will be met from the sale consideration.' Hopes of a rescue plan for the Sons suffered a set back in April when Phillips' Pendragon Group Limited have ended their interest in buying the club due to health issues and forfeited the non-refundable deposit paid. The joint administrators turned to other potential bidders, running up eye-watering costs of £446,700 plus VAT for the six months leading up to since May 17. The cost of legal advisors Addleshaw Goddard have yet to be made public.
