According to information obtained by the News, Everest, which has been controlled for more than ten years by well-known financier Jon Moulton’s investment company Better Capital, brought in administrators this week.
Everest “needs an immediate funding injection to relieve creditor pressure which, combined with further significant investment in its marketing, systems, and brand, can deliver increased market share, and a path to strong underlying profitability and growth,” according to information shared with potential bidders by another firm of advisers a few weeks ago.
ReSolve did not respond to requests for comment, but Mr. Moulton was contacted.
