Goodwill write off on sale, must sting a bit

[anonymous-user]

"The deal, which was effective from March 31, 2016, saw Holidaybreak sell Superbreak for £9.25 million to Malvern Enterprise UK, a new business formed out of a joint venture between C&K, and an unnamed private equity investor which holds a 51 per cent stake.

C&K, which also announced the sale of its Manchester-headquartered LateRooms to Malvern for £20 million, said the proceeds of the transactions will be used to pay off debts, with the Superbreak sale including a goodwill right off of £71.4 million."

http://www.yorkpress.co.uk/news/14403788.Indian_tr...