Company Rescue Latest News
Former Kids Company board members face directorship ban
27-Apr-2017On Monday, the 24th of April, it was reported that The Insolvency Service had written to lawyers acting on behalf of Kids Company's former board members, informing them that the agency is likely to pursue disqualification proceedings against them. These actions are thought to include th..
Scottish corporate insolvencies continue to fall
26-Apr-2017A total of 155 Scottish companies entered creditors voluntary liquidation (CVLs) or compulsory liquidation between January and March 2017 (Q4 in financial year 2016/17). 63 companies entered a CVL compared to 72 the previous quarter. Comparing year-on-year statistics, the total number of compan..
Advertising technology start up company bought out of administration
26-Apr-2017Update: Ve Interactive has been bought out of administration in a pre-pack administration deal, securing 1000 jobs. The company will continue to trade under management of the CEO Morten Tonnesen and MD David Marrinan-Hayes. Ve Interactive is going into administration, after failing to secure s..
Moray manufacturer goes into liquidation
24-Apr-2017A hi-tech company based in Forres, Moray has gone into liquidation (http://www.companyrescue.co.uk/creditors-voluntary-liquidation), resulting in 11 redundancies. Scotland Electronics International (International) Ltd has appointed Johnston Carmichael as interim liquidators after a winding up petiti..
Jaeger goes into administration
19-Apr-2017Update: 19/04/2017 - 20 loss-making stores will close, resulting in 209 redundancies along with 32 from head office and 12 from distribution centres. Please see our video below on employee rights in an insolvent company. Update: 11/04/2017 - Joint administrators, Peter Saville, Ryan Grant and..
Leading manufacturer, Pulse Flexible Packaging Ltd, goes into administration
04-Apr-2017Based in Bury and Essex, the packaging manufacturer has called in the administrators, putting 350 jobs at risk. Production has ceased and all employees have been sent home, although no redundancies have yet been made. Howard Smith and Jonny Marston from KPMG have been appointed joint administr..
99p Stores chain goes into administration
28-Mar-2017AlixPartners have been appointed to close down 60 stores, only two years after Poundland bought the chain and made efforts to rebrand it. There will be no redundancies and existing store employees will move to Poundland shops. The 60 stores operated under a separate company and have closed due ..
Brantano goes into administration again - over 1000 jobs at risk
22-Mar-2017Joint administrators, Tony Barrell and Mike Jervis, from PwC have been appointed to the shoe retailer, a year after it was bought by private equity investors, Alteri, after going into administration. (http://www.companyrescue.co.uk/latest-news/footwear-retailer-brantano-uk-goes-into-administration) ..
Jones Bootmaker appoints administrator in pre-pack administration deal
15-Mar-2017Update: 27th March 2017 - 72 stores have been acquired by private equity firm, Endless, in a pre-pack administration deal, saving 840 jobs in the UK. The deal was announced on Saturday with joint administrators, Will Wright, Steve Absolom and Blair Nimmo, from KPMG appointed on Friday. Unfortun..
Blue Inc to enter company voluntary arrangement (CVA)
09-Mar-2017Update: 23/03/2017 - The CVA has been approved by 80% of creditors, according to reports. The supervisors will look to beginning CVA proceedings, which will include rent reductions and closure of under-performing stores. 09/03/2017 - The national menswear retailer has proposed a CVA to its la..
Vaping company VIP goes into administration
08-Mar-2017Owned by US giant Electronic Cigarettes International Group (ECIG), the company Must Have Ltd (which trades as VIP across the UK) has gone into administration after failing to pay a £2.5 million tax bill. Appointed administrator, FRP Advisory, has stated the company will continue to trad..
Agent Provocateur to be sold in pre-pack administration deal
02-Mar-2017The national lingerie chain is to be sold in a pre-pack administration deal later today, according to the Telegraph. Owner of the national lingerie company, private equity firm 3i, had been looking for a suitable buyer over the last few months as a result of the business suffering from falling..