£40m lost in Latitude pre-pack by CL5
Tags: Digital Liverpool News, internet marketing, Liverpool Marketing, SEO Liverpool
Warrington-based digital marketing agency Latitude, valued at £50m when it changed hands just over two years ago, was sold for less than £1.1m after it went into a pre-pack administration in January. A newly filed administrators’ report reveals that equity investors lost nearly £40m in the collapse of Latitude Group Ltd (LGL) and Barclays, its bankers, lost £4.62m. Latitude, a search engine optimisation specialist, was bought back out of administration by its previous owners Vitruvian Partners, a London-based private equity …
