Thomsons Directories is understood to have been bought out of administration by a newly formed company called Corporate Media Partners Limited, run by the founders of 118, reports The Drum.
The Drum has learned that the deal was made within hours of staff being informed of the administration process yesterday (14 August).
The business was acquired by Paul Spinks and Patrick Bradshaw, who also own 118 Information, e-Location, Market Location and 118 Business Information.
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Comments
A friend of mine was working for Thomsons local was called up to Farnborough along with many other staff yesterday and was told they were all being made redundant and to leave the company car keys on the desk and told they was not getting paid.....I wont tell you the language he used, but he took the car and drove home!
Having followed the demise of Yellow Pages so closely I'm not at all surprised that Thompson Local also got into difficulties.
Having said that, having advertised extensively in both publications I think Thompson has the best chance of re-inventing itself.
Have the word local in it's business name is a massive bonus as people are more likely to think there is a potential benefit within their immediate geographical areas.
It will be interesting to see how the Thompson Local is re-branded.
Press Release just sent to Thompson Local clients @20:15 :
http://businesssearch.thomsonlocal.com/Email/WebVersion/Html/9720?r...