- Entrepreneurial company investor CEPS said two groups controlled by a subsidiary were calling in administrators.

CEPS owned 80% of CemTea, which fully owned one of the companies going into administration, called Travelfast.

The other company going into administration, CEM Press, was a 97.86% subsidiary of CemTeal.

The remaining entities in the CemTeal group of companies were expected to be wound-up in the near future, CEPS added.

Losses relating to the CemTeal group of companies would reflected in CEPS' accounts to 31 December.

'As previously announced, CEPS' trading, based on the September 2019 management accounts, being the latest available and excluding the CemTeal group of companies, is ahead of the board's expectations in all but one subsidiary,' the company said.

At 1:52pm: [LON:CEPS] CEPS PLC share price was 0p at 31.5p

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