Yellow Pages publisher Hibu calls in administrators Hibu, the publisher of the Yellow Pages, has gone called in the administrators, ending a long struggle with crippling debts. The administration will be handled by Deloitte and means shareholders, who have lost all their investment in the company, will not get to question management at an Emergency General Meeting that was scheduled for next week. Hibu's staff, customers and suppliers will be unaffected, the company said. The operating subsidiaries have been transferred to a new holding company owned by lenders who made a debt for equity deal with management in July. The management including Bob Wigley, Hibu's chairman, will remain in place through the restructuring. Mr Wigley's shares in Hibu have been rendered worthless, but he also acquired discounted debt earlier this year, sparking anger from shareholders. Mr Wigley said: "Our business will continue to operate as usual and will not be affected by the administration of the holding company, a planned step in the restructuring process." Hibu built up a £2.3bn debt during an acquisition spree in the mid-2000s, at the same time its Yellow Pages advertisers were moving spending online to Google and other rivals. The new Hibu, free from the debt burden, will focus on building up its business creating and running websites for small companies. A multimillion-pound marketing push has already begun. Mr Wigley said: "Our enhanced digital product offering is growing fast and increasingly finding new customers following our recent marketing campaign." A group of several hundred individual shareholders angered by the plans had forced Hibu to call an EGM where they planned to install new non-executive directors and question management about their handling of the company's failure. Their fears, reported by The Telegraph, that the administrators would be called in beforehand have been realised. A Hibu spokesman said: "As a consequence of Hibu PLC being placed into administration, the administrators will shortly be writing to shareholders announcing their intention to adjourn the General Meeting of shareholders scheduled for 4 December 2013." The restructuring plan remains subject to approval by the Pensions Regulator.