Company Rescue Latest News
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 files notice of intention to appoint administrator
15-Mar-2017The high street chain has attempted to find a buyer over the last few weeks however has now filed a notice of intention (NOI) to appoint an administrator. Jones has struggled with rising costs amid difficult trading conditions of late. The fall in the pound after the Brexit vote last year as well as..
Blue Inc proposes company voluntary arrangement (CVA)
09-Mar-2017The national menswear retailer has proposed a CVA to its landlords and creditors with the aim to negotiate and reduce the company’s rent bill. Reports reveal the proposal includes a possible 33 out of 127 shop closures if the company were to go into a CVA. According to the Telegraph, rent debt..
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..
Rowe Precision & General Engineers in administration
27-Feb-2017The slowdown in the oil and gas industry has seen a Staffordshire manufacturer go into administration. Around 20 jobs have been lost with the closure of Rowe Precision & General Engineers (www.rowe-engineering.co.uk), a Stone-based Rolls-Royce sub-contractor that has been trading for nearl..
Budgens owner goes into administration
17-Feb-2017Update: 07/03/2017 - The business and administrator has been unable to secure a buyer, therefore all Budgens stores are to close. 800 employees will be made redundant. Joint administrator, Mike Denny of PwC, said in a statement: "Unfortunately, we have been unable to find a buyer and it i..
Call centre director banned for six years over unsolicited spam texts
09-Feb-2017Leighton John Power has been disqualified as a director for six years after allowing his company to send thousands of spam text messages to individuals despite receiving a warning from The Information Commissioner (ICO). Over April 2015, Swansea-based Help Direct UK Limited sent texts to peopl..
Q4 2016: company insolvencies increase year on year
27-Jan-2017The latest statistics from The Insolvency Service reveal the number of companies in England and Wales entering an insolvency procedure has increased (4.2%) between October and December 2016, compared to the same period the year before. The number of companies entering insolvency increased 7.6% since..
Triton Global bought in pre-pack deal saving 215 jobs
25-Jan-2017Insurance law firm, DWF, has bought Triton Global in a pre-pack administration deal, saving all jobs. The firm has also bought Triton’s technology business, 3Sixty, which specialises in developing systems for asset management and incident notifications. Licensed as an alternative busine..
Scottish company liquidations down 18.4% year on year
25-Jan-2017The total number of companies entering creditors’ voluntary liquidation, compulsory liquidation or receivership between October and December 2016 fell 18.4% since the same period in 2015. There were a total of 209 corporate insolvencies, down from 218 in the previous quarter. 34.5% were ..
Law firm sale saves 44 jobs
23-Jan-2017The assets of liquidated Carter Law Solicitors Limited were sold to AWH Legal last month, saving 44 jobs. The Manchester-based law firm began in 2010 and specialised in family law, wills, personal injury and immigration. Quantuma were appointed liquidators to firm and arranged the sale, ..