Charterhouse Communications is latest victim of credit squeeze

Charterhouse Communications, the financial Publishing company, has become the latest victim of the credit squeeze and has entered administration.

The company is the second publisher to fold recently, following the liquidation of Niche News and Publishing last month.

Charterhouse was established more than 20 years ago and was heavily exposed to the mortgage market,. Last year, it recorded a turnover of £9.89 million and an operating loss of £2.92 million.

David John Crawshaw and Myles Antony Halley of KPMG LLP have been appointed joint administrators of Charterhouse.

In the last 12 months, shares in Charterhouse fell from 1.75p to just 0.5p.

The news follows that from Robert Tchenguiz, the property entrepreneur, who put his Laurel Pub Company into administration after failing to find buyers. Laurel’s 460 sites include a mixture of Yates’s, Hog Head, Litten Tree and Bar Med, Slug and Lettuce and La Tasca.

Last week, The Centre for Economics and Business Research warned that a flood of retailers are expected to be forced into administration after a dismal Easter weekend’s trading, a flood of retailers are expected to be forced into administration.

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