Chitchat Luxury mobile phone makers Vertu is dead

[Rogue Trader]

Vertu manufacturing arm faces liquidation after rescue bid fails

[FONT=&amp]Vertu targets the super-rich[/FONT]Christopher Williams, chief business correspondent[FONT=&amp]
[/FONT]11 JULY 2017
6:31PM

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[FONT=&amp][FONT=&amp]T[/FONT]he manufacturing arm of the British luxury smartphone maker Vertu will be liquidated with the loss of nearly 200 jobs after a rescue plan failed.

[/FONT]Vertu Corporation Limited (VCL) made handsets for the super-rich, with handsets clad in titanium and sapphire glass starting at around £10,000 and going up to as much as £280,000 for bespoke, jewel-encrusted devices.

Its owner Murat Hakan Uzan, a Turkish exile based in Paris who owns the Vertu brand separately, had sought to buy the company out of administration in a pre-packaged deal.

The plan floundered in the High Court today amid concerns over the scale of its £128m accounting deficit compared with the £1.9m price Mr Uzan intended to pay.

A spokesman for Vertu said: “Our best efforts to achieve a pre-pack administration have failed because the financial requirements specified within the negotiations went beyond the point where the new company had a chance of financial viability.

“No other part of the group is affected by this development.”

 

[Rogue Trader]

I'm surprised they've lasted for so long... Luxury and mobile phones make the most awkward partnership

 

[Debonerman]

I'm surprised they've lasted for so long... Luxury and mobile phones make the most awkward partnership

Like edible panties.

 

[Narong Wongwan]

I'm surprised they've lasted for so long... Luxury and mobile phones make the most awkward partnership

Rich folks want to show off just buy or customised their iphone cases. Money no object up to hundreds of thousands by famous designers...trump any vertu models.

 

[war is best form of peace]

Rich became poorer and buying budget phones already.