Norwich based Franchise Development
Services Limited which was established in 1981 has been placed into liquidation
by its directors on 2 December 2015. The
company provided advisory services to established and prospective franchisors
and franchise owners and was a major publisher in print and on line of
franchise magazines and web based information including its flagship
publication: The Franchise magazine.
From its inception it grew to employ 15 staff in its head office in Norwich
and provided its services to clients in the UK and worldwide.
It says its demise was the result of a
slowness to react to the move from printed material to online publications
along with the recession which caused its clients to focus on survival rather
than expansion. The company continued to print The Franchise Magazine but this
gradually become more and more loss making reflecting in the overall
profitability of the company such that losses were reported in the last 4 years
of trading.
It
is hoped however that the business and assets can be sold to new owners and
Chris Williams of McTear Williams & Wood said that “we are in negotiations
with interested parties and hope to complete a sale this side of Christmas”
16 December 2016