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UK's MDL Research Group to Close
UK-based business intelligence specialist MDL Research Group is to go into voluntary liquidation at the end of this month, after 30 years of trading.
Director Ricky Baxter told DRNO that the loss of c. £1m+ business with publishing giant EMAP - which has put all tracking studies and NPD work on hold since it was sold to Bauer Media in 2007 - has been the main catalyst for the company's closure. In addition, work with a multi-national global company has been halted part-way through, adding to the firm's financial predicament.
Despite taking 'careful steps' with cash flow following the EMAP acquisition, Baxter said the firm is at a point where it 'can go no further'.
The four founders - Chairman John Kelly and Baxter, Andy Booth and Lise Cottle - who took part in a management buy-in in 2000, will now go their separate ways after completing all outstanding client work as a mark of goodwill. Three further members of staff - researchers Andre Vaughn and Gill Welch and an accountancy administrator - are also now on the look-out for new positions.
MDL Research Group was founded in 1979, since when it has specialised in providing customer satisfaction, employee research, NPD services, research consultancy and field and tab services to the global media and travel sectors. Its business divisions comprise Marketing Direction, Business Intelligence Consultancy, along with EDR (European Data & Research) and IATS (International Air Travel Surveys), which were acquired by MDL Research Group in 2005.
Web site: www.mdlresearch.com .
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