Company Rescue Latest News
Health & Safety Executive increasing risk of bankruptcy for businesses
23-Jun-2017Vikki Woodfine, a leading lawyer and partner at DWF LLP, outlined how the Health & Safety Executive (HSE) is increasing the risk of insolvency for businesses at a recent expo. Although recent events at Grenfell Tower will mean that any attempts at blunting the "teeth" of the HSE are going to be..
Redx put into administration by Liverpool City Council
22-Jun-2017Redx, the Liverpool-based pharma research company, has been put into administration by Liverpool City Council over a dispute on a £2m loan. Update: The administrators have today said that they are working with the company’s advisers on proposals to rescue Redx and return the compa..
Lovereading goes into administration
16-Jun-2017Lovereading, the book recommendation website, has fallen into administration after last month's attempts to find a buyer proved unsuccessful. Who are Lovereading? Lovereading, a Sussex based company that currently employs eight staff members, was founded in 2005. It operates using a s..
TBA Textiles goes into administration
14-Jun-2017On the 30 May 2017, it was announced that TBA Textiles, a firm in Greater Manchester, had fallen into administration. Ben Woolrych and Russell Cash of FRP Advisory were appointed as joint administrators of the company, which employs almost 60 staff. Offers are now being sought for the business ..
Administrators save 1400 jobs
09-Jun-2017Employee redundancies are a regrettable part of most insolvency proceedings. In many cases they are unavoidable as the company either cannot afford to keep employees on or do not need to due to closure. However, through efforts made by administrators, some employees are able to keep their jobs or ..
One in 25 UK businesses unable to repay debts if interest rates rise
07-Jun-2017According to a new study from R3 and BDRC Continental, 79,000 businesses – one in every 25 – would be unable to pay if interest rose by a "small amount". This represents a significant increase from the 20,000 businesses in this position in September 2016. “This is the first..
TenTel goes into administration
06-Jun-2017TenTel which was a low cost broadband provider established in 2013 has gone into administration, affecting over 10,000 customers. All customers registered with the provider have had their contracts moved over to Talk Talk who have bought the assets of the firm. The administrators FRP Adv..
GGI Office Furniture goes into administration
05-Jun-2017The Lancashire-based company GGI Office Furniture has gone into administration, according to The Business Desk. This development has resulted in the loss of nearly 100 jobs in the area – a heavy blow to the local community. Why did GGI go into administration? GGI Office Furniture..
Lehman Brothers' creditors to receive additional £5bn
01-Jun-2017Creditors of Lehman Brothers International Europe (LBIE) will receive £5bn in additional payouts following a Supreme Court ruling (http://www.cityam.com/264906/lehman-brothers-creditors-should-share-extra-5bn-interest) on the terms of the firm's insolvency arrangement (http://www.companyre..
Theo Fennell goes into administration due to fixed costs
23-May-2017Premium jeweller Theo Fennell has fallen into administration as a result of fixed costs stifling restructuring efforts, Sky News revealed last week. The company was established in 1982 by its eponymous founder and specialises in high-end designer jewellery. Theo Fennell has two dedicated bran..
Wheatons Exeter has gone into administration
17-May-2017Wheatons Exeter has fallen into administration only one year after it was bought in a Management Buyout following the administration of Polestar. Gareth Roberts of KRE Corporate Recovery has been appointed the administrator. The firm continues to trade while a buyer is sought. 24 staff have been m..
Supply Chain Funding index falls in line with predictions
17-May-2017The second edition of the Supply Chain Funding index (SCFi) has just been released, and the results are broadly in line with the somewhat pessimistic predictions made first time round. Read on to find out more about the SCFi and what the latest report means for business owners. What is SCFi? ..