Company Rescue Latest News
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, ..
Quantock Brewery goes into administration
20-Jan-2017Somerset-based brewery, Quantock Brewery, has appointed KSA Group as administrators. Due to challenging times in the industry, the brewery has struggled of late. The company said in a statement: “It is with deep regret that following a very difficult trading period we must announce ..
Two brands of All Leisure Holidays sold in pre-pack administration
16-Jan-2017The travel company was placed into administration at the beginning of January but it has now emerged that two of its brands, Travelsphere and Just You, were bought in a pre-pack administration deal by G Adventures – saving 200 jobs. 100 maritime staff and 50 All Leisure Holidays employee..
Manor F1 goes into administration
06-Jan-2017Parent company of the F1 team, Just Racing Services Ltd, has called in the administrators after failing to secure new investment. FRP Advisory was appointed joint administrators to the company and will review all the options for the company, including trying to secure new finance. No redundanc..
61% of SME invoices remain unpaid during debtor day period
05-Jan-2017According to the latest research from Amicus Commercial Finance, the majority of small businesses issuing invoices remain unpaid within the debtor day period, often settling debt within 90 days. 16% of SMEs are not even paid back until after the 90 day period and 7% of those have yet to settle..
Bradford Bulls go into liquidation
03-Jan-2017A deal to sell the struggling club fell through yesterday evening, resulting in the administrators putting the company into liquidation. PBC Recovery has attempted to find a suitable buyer for the company since it went into administration last November, however with the latest deal falling thr..
CVA approved for Love Coffee chain
14-Dec-2016A company voluntary arrangement has been approved by the majority of creditors, preventing Coffee Love from going under and safeguarding 200 jobs. The coffee shop chain has suffered over the last few months due to lower footfall across sites operating in large UK shopping centres, including Wes..
R3 research reveals 139,000 businesses can only pay the interest on their debts
13-Dec-2016According to the latest findings from insolvency body R3, 139,000 businesses in the UK can only pay the interest on their debt, not any of the debt itself. This accounts for roughly 8% of all UK businesses. R3 suggests the all-time low interest rates reflect the increasing number of these type..
Laundry company goes into administration
13-Dec-2016White Knight Laundry Services has gone into administration, resulting in site closures in Eastbourne and Reading. 131 employees have been made redundant while a small group will be kept on to assist in the winding down of the company. Founded in 1904, the company specialised in laundry cleanin..
Craft beer helping UK pubs stay afloat
12-Dec-2016The number of insolvent bars and pubs has fallen by 7% this year, according to a survey by Ortus Secured Finance. Over the last three years, the overall number of insolvent pubs has fallen 16%. This is mostly due to alternative funders giving pubs opportunities to invest in craft beers, local ..
London Welsh set to go into liquidation
07-Dec-2016The Championship rugby club is to go into creditors voluntary liquidation after struggling with cash flow and an ‘unsustainable’ financial structure. They were issued a second winding up petition by HMRC in October over tax debt. Founded in 1885, the club is based in Richmond-Upon-T..
Investors of betting scheme, The Winning Express, could lose out
06-Dec-2016Promoted by ex-footballers Steve Claridge and David Hurst, The Winning Express is a sports betting investment scheme offering risk-free returns. According to the BBC, authorities have been warned about the company before. The scheme began in 2011 with reports claiming it was run by Graham Brad..