Company Rescue Latest News
Care homes under financial distress
15-Aug-2017One in six care homes at risk due to increasing demand on sector New research has revealed that one in six care home companies exhibited signs of being at risk of failure in the year leading to February 2017. This has been put down to increasing pressures on the care sector including rising ..
LearnDirect in administration threat
15-Aug-2017LearnDirect, the adult learning provider and apprenticeships providers faces an uncertain future after it failed in its High Court bid to suppress a damning Ofsted report where it was labelled totally inadequate. In a statement LearnDirect said; “In particular, we felt that the sample s..
Demolition directors banned for 17 years following liquidation
11-Aug-2017The directors of George Hunter (Demolition) have been banned for a total of 17 years (https://www.scottishconstructionnow.com/20644/directors-of-liquidated-demolition-firm-banned-for-17-years-after-ignoring-winding-up-order/). This follows an investigation from the Insolvency Service, which fou..
Multiple renewable energy firms fall into administration
08-Aug-2017The last few months have seen a rapid increase in the number of renewable energy firms falling into administration and liquidation. This is said to be due to the loss of grants for businesses in the renewable energy sector. Here, we will take a look at two prominent businesses that have become ..
Fairpoint Group to appoint administrators
04-Aug-2017Fairpoint Group, the consumer professional services company, has said it intends to bring in administrators, blaming the “onerous lease” on its head office. Fairpoint has an annual commitment of £1m a year for the next four years on its lease of its Fairclough House headquarte..
Rare London goes into administration
02-Aug-2017Rare London, the celebrity-backed fashion brand, has entered into administration (http://www.companyrescue.co.uk/company-administration). They announced the company's insolvency on Facebook (https://www.facebook.com/officialrarelondon/) on the 31st July, despite joint administrators being ap..
Debt Connect director disqualified for 9 years
01-Aug-2017Following the collapse of the debt management company Debt Connect (UK) Ltd based in Manchester a third director has been disqualified (/directors-guides-insolvency/directors-disqualification) for 9 years. Rahul Dev Sharma, had transferred £42,920 of clients money into the company account..
530 jobs at Handmade Burger Company saved by rescue deal
27-Jul-2017Administrators have completed the sale of the Handmade Burger Company, after it collapsed earlier this month (http://www.companyrescue.co.uk/latest-news/handmade-burger-company-goes-into-administration). The sale has saved over 500 jobs (http://www.thebusinessdesk.com/yorkshire/news/2007669-530..
Bolton Wanderers receive winding up petition
20-Jul-2017Update 20th July 2017 Yet again Bolton Wanderers have been issued with another winding up petition. It really is time they sorted out their taxes!!! They have said they are aware and are dealing with it. In a separate announcement, Shaun McHugh has left his role as head of finance at ..
Craig Whyte in line for £5m payout after Rangers liquidation
19-Jul-2017Craig Whyte, the former Rangers owner, is in line for a £5 million payout from liquidated funds of the company which owned the club. Tax authorities, who are owed more than £90 million, are not expected to receive any payment. What happened to the Rangers? In 2012, the company wh..
Primary Care People owes GPs thousands after entering administration
14-Jul-2017Primary Care People, a medical staffing agency, has fallen into administration after struggling to repay debts. The company filed notice of intention to appoint administrators on 30th June. Who is Primary Care People and why did they fall into administration? Primary Care People claims to be ..
Late payments costing UK SMEs more than £2bn a year
14-Jul-2017The UK's smaller businesses face a bill of £2.16bn to chase overdue payments, according to Bacs. (https://www.bacs.co.uk/NewsCentre/PressReleases/Pages/LatePaymentsCostingSmallerUKBusinessesMoreThan%C2%A32bnAYear.aspx) This is in spite of the dramatic drop in overall late payment debt. Ne..