Found in an impromptu search the following editorial escaped onto the WWW.
Business correspondent Senna Kott
Editorial Headline
"Smokaloo Goes down the pan"
In a surprise move leading comfort company Smockaloo Co Ltd, filed for bankruptcy in the high court yesterday. The company has seen its market share hit and a fall in the deposits from its leading customers.
High Court Judge Lord Izal who latter revealed his judgment from his chambers, unusually added a personal note to the papers. He appointed Dunmore, Flushit & Phew to act as Receivers for the failed company.
It transpires the sudden run on the companies shares may have been precipitated by a predatory takeover bid by a competitor. The companies Solicitors Crouch and Heave from Boggington; announced they had received a takeover bid for Smokaloo by Thomas Crapper Sanitary Systems PLC, their main competitor, but as the company were digesting the offer the bottom dropped out of the market.
Senior City bankers were engaged for several hours as they sat down to analyse the situation. There were different views expressed as they left. Some said they needed to stand up and face the wall, other reported that the motion had been hard to pass, and other were washing their hands of the situation. Leading financiers were preparing to pick up the pieces that had hit the fan.
In a statement issued on behalf of the company Crouch and Heave said the bid was an unprovoked attack on the company and believed to have been a deliberate move to devalue the companies stock. As a result the companies assets were over extended and their stock piles were did not smell so sweet.
The bid has been refereed to the Monopolies and Mergers Commission for fear that it is not in the public's interest. If it were to go ahead it would certainly mean that some facilities would merge and other closed and that would be great inconvenience to the public.
Contrary to expectation the MD of Smokaloo Co Ltd, has raised enough capitol to buy the collapsed company from the liquidators. In a eleventh hour deal a new company Smokaloo PLC has risen from the bog. Though no official comment has been made, Insiders in the business suggest that Smokaloo's new found cash has come from deal struck with venture capitalist group including Lord Brakewynd, and Sir Fartinghamm Smythe.
A spokesman from Thomas Crapper vehemently denied that the takeover bid had been designed to topple Smokaloo, but it had been part of a long time strategy to expand their business. Its unfortunate that the recession set in which he speculated had left Smokaloo's owners rather exposed.
Within hours of the announcement, the Receivers have published a list of creditors who will as a result of the sale of the business receive some of their deposits back.
Unsecured Creditors are urged to record their name s and deposits at:
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