The directors of Leadbay Media Group are taking steps to place the group into liquidation and are currently in discussion with a number of buyers to conclude a sale of the business. The group includes Leadbay and Add Momentum Innovations which trades as MoneyHospital.co.uk
The 21 staff within the group were informed of the position on Tuesday and were made redundant with immediate effect.
Grant Stevens, Leadbay managing director, said: “It is very sad for everybody involved but we have a responsibility to all creditors and that means we need to take this course of action at this time.”
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