Historic British coin firm collapses into administration after 20 years as staff redundancies announced

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Historic British coin firm collapses into administration after 20 years as staff redundancies announced.

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The London Mint Office has entered administration after 20 years in business, with immediate redundancies announced following the appointment of joint administrators.Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP were formally appointed on July 31, according to a notice published on the company's website.The firm, founded in 2006, supplied historic, commemorative and collector coins and medals to customers across the UK.

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Its website now states that purchases can no longer be made through the platform.A spokesman for Alvarez & Marsal said: "Regrettably, the Company's liquidity challenges have led to a number of immediate redundancies.

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TRENDING Stories Videos Your Say "We are supporting the affected employees through the redundancy process."He added that the company's affairs, business and property are now being managed by the joint administrators.The administrators are responsible for overseeing the company's remaining assets and stock, with customers and interested...

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