Boxclever

BoxClever is a British company based in Bedford, the electrical equipment rented, especially televisions are awarded to individuals. BoxClever was created in 2000 from the merger of two long-established companies " Radio Rentals " and " Granada Rentals". In the two predecessor companies, business in the past successfully developed over many years. When electrical devices are getting cheaper and technically reliable, but broke the revenue away. Through the merger, the future of both companies should be secured in the face of a shrinking market. In connection with the merger, WestLB involved in BoxClever and gave additional loans in the aggregate amount of EUR 1.4 billion. As BoxClever but then became insolvent in 2003, had to be written thereof 427 million. WestLB stake was sold to the U.S. financial investor Fortress 2004.

At WestLB the BoxClever engagement with other bad investments led to the resignation of several board members and a lawsuit for breach of trust against the then CEO Sengera.

Boxclever

Swell

See also