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Fisher partners dealing with Destination! administration 22 June 2009

RTL Games Limited has developed a strong profile in the board games industry around its Destination games brand, which first came to prominence in 2004 when entrepreneur and managing director of RTL Game Limited, Rachel Lowe, pitched the idea of the Destination London board game on the BBC TV show Dragons’ Den.

Following the success of the Destination brand, RTL Games Limited branched out into the licensed board games sector, securing a contract with Warner Bros to produce a Destination Hogwarts game to coincide with the release of the latest Harry Potter film.

The film was due to be released in October 2008, but was delayed for a year, leaving RTL Games Limited unable to meet creditors’ demands for payment. The company was placed into administration at the beginning of May 2009.

Brian Johnson, insolvency partner, Fisher Partners, comments: “Our objectives are to either preserve the company or find a buyer for the business and assets of the company in order to pay both the secured creditors and the unsecured creditors.
“We believe RTL Games Limited represents an attractive niche opportunity for a company within the games industry that is interested in expanding its portfolio.

“The Destination brand is an established and recognized brand in the board games market and we have already been contacted by parties interested in either investing in the company or acquiring the business and assets of the company.

“Rachel Lowe, the founder of the company, will be an integral part of any discussions with interested parties, moving forward."

 

 

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