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£2.25 million private equity deal secures immediate future

Submitted by: MikeC (Admin) on 24-Feb-09 04:06:35 PM

Further to yesterday's post, Christopher Rodgers in administration, today I received an email from company representatives with news that Christopher Rodgers (Home & Energy) Ltd now lives-on under the name CR Energy Ltd, following a private equity deal with Mosiac Private Equity worth £2.25 million which secures over 100 jobs.

In a statement from Christopher Rodgers Ltd, Chris Rodgers says:

Following the downturn in the valuation and architectural sectors, the decision has been made to close Christopher Rodgers Ltd (CRL). CRL has been reducing its workforce through planned redundancies over a 12-month period and no new instructions have been accepted since the 9th February 2009. The management team at Christopher Rodgers Ltd considered the closure of the company very carefully and the redundancies were made as a very last resort.

The closure of Christopher Rodgers Ltd will in no way affect the future of CR Energy (formerly known as Christopher Rodgers (Home & Energy) Ltd) however, which is an entirely separate company employing over 100 members of staff. This business has huge profit potential and the directors, most of which are unconnected with CRL, will be focussed on the growth of the Energy Performance market.

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