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Amanda Solway

21 days ago

GOTCHA! Versarien goes into administration: £205 million to nowt! The ouzos will flow in Greece tonight!

It was a matter of when not if but today Versarien (VRS) has appointed Andrew Knowles and Andrew Poxon of Leonard Curtis as Joint Administrators. They will try to sell its businesses but will get SFA. Shareholders will lose everything and the UK taxpayer will take a monster haircut on the £5 million plus accrued interest loan it should never have been given by Innovate UK.

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