AIM-listed Snoozebox appoints Moore Stephens as administrator

AIM-listed portable hotel business Snoozebox has appointed Moore Stephens as administrators after entering administration earlier this week (November 8).

Snoozebox creates hotels and temporary accommodation out of shipping containers, which can be usable within 48 hours of arriving on location.

Examples of its work include building an entire hostel out of shipping containers at the Eden Project as well as providing temporary accommodation at Glastonbury and the London Olympics.

Snoozebox raised £12m through their IPO after listing on AIM in April 2012.

Jeremy Willmont, Head of Restructuring and Insolvency and administrator of Snoozebox comments: “Snoozebox is a highly innovative business with unique know-how in deploying large scale temporary accommodation solutions.

“We will be exploring all possible options for the business, including a sale to maximise its value.”
 

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