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Dan Technology: so who's the buyer?

And why's it taking so long

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Dan Technology has a buyer on the table and a deal should be announced next week, receivers BDO Stoy Hayward says.

According to sources, the unnamed buyer has already taken on a small number of customer support staff, previously made redundant along with the rest of Dan's employees , to handle the backlog of tech calls. Word is, that PC building is to be subcontracted out in Dan Mk II.

If the unnamed buyer is already hiring, that suggests a deal is already done. So why the wait until next week. Perhaps, the UK's TUPE regulations which regulate the contracts of employees transferred through takeover to new businesses has something to do with it. TUPE regulations apply, even in cases of insolvency, but there are time limits.

So who is the unnamed buyer? Speculation among creditors is centering around a Herts.based dealer called Hemini plc. ®

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