Having read the Manchester article it's clear the management team has bought the operations.
Still, I really don't like sound of the lease-back arrangement. Admittedly, I don't know the terms but taking a page from the airline industry (where planes get sold by the airlines to groups like GE Capital and then leased back, etc.) it usually suggests the leasee lacks liquidity.
Regardless, it looks like Ilford will be around for at least a little while yet.
Now if we could only do something about Forte...