Detroit Aircraft's frantic efforts to regain stability were unavailing and, in October, the corporation floundered into receivership. |
The firm will likely be placed under court receivership, which would install trustees and freeze all company assets. |
When a company goes into receivership, a receiver is appointed to try to keep the company running. |
This meant that even if the company went into receivership, the trademark would still belong to the family. |
The group went into receivership on 27 August and Mr Wright was made redundant on that date. |
The club was placed into administrative receivership after a day of feverish activity at Kenilworth Road. |