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MFP going into liquidation
Fri, 03 Jul 2009
Screen Africa learnt today from a reliable source that MFP (Music for Pleasure) is going into liquidation and that its bank has taken passion of the company’s assets. MFP, which is named as South Africa's largest music distributor, acquired The Refinery Group in September 2007 with Ken Modise and John Hislop as executive directors to the board.
Media24.com carried a speculative story about MFP being “liquidated temporarily” on 1 July and reported that staff had to clear out their offices on Tuesday, 30 June.
When MFP acquired The Refinery Group it was comprised of the well-known post production facilities: The Refinery, The Video Lab and the Waterfront Studios Partnership. In January this year, The Video Lab was amalgamated into The Refinery.
As part of the liquidation process, MFP’s shareholding in companies will be sold as part of its assets. The liquidation will not affect the operations of The Refinery or Waterfront Studios.
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