Company Rescue Latest News
Budgens owner goes into administration
17-Feb-2017Hundreds of jobs are at risk at 34 Budgens stores across the UK as its owner Food Retail Operations Limited has gone into administration. Formerly known as Food Retailer Group Limited, it bought the Budgens stores from the Co-op last year. PwC have been appointed administrators to the company a..
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, ..
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..