SRH Plc, in which Enterprise Computer Holdings Plc holds a minority stake, has gone into receivership. Enterprise wrote its stake in SRH down to nothing in its annual results last month (CI No 2,609). Receivers Price Waterhouse & Co are now attempting to sell SRH’s Luton, Bedfordshire-based Systems Reliability Computer Services Ltd unit, billing it as company with maintenance contracts worth ú10m annually. In a separate development, Enterprise has agreed to ECS International (UK) Ltd surrendering its sublease on a property owned by Enterprise in Richmond-upon-Thames, London. Enterprise will receive a ú375,000 cash consideration for the surrender of the lease, which was due to run until 2011. A new sub-tenant is currently negotiating a five year sub-lease. Chairman John Small said coyly that he sees it fitting very well into the reconstruction exercise. The company intends to release a fuller statement regarding its re-financing today. Enterprise is still looking to off-load an empty property in Winnersh, Berkshire, which is costing them ú232,000 in rent annually.
