What Does Going Into Administration Mean?

TOFS In Administration

in Retail What Does Going Into Administration Mean?

TOFS has gone into administration with Interpath, being appointed administrator of the Burnley-based discount retailer as of today.  1200 jobs thought to be at risk. Update 19th January 2026TOFS has filed a second intention to appoint administrators. This is its last chance to find a buyer for the business.  The moratorium lasts 10 days.  After the moratorium expires and no buyer is found then the company will go into administration and most likely most of the stores will close.The Original Factory Shop (TOFS), bought by Modella Capital just four weeks ago, is working with advisers at Interpath on a potential company voluntary arrangement, Sky News has reported.​Modella is looking at a CVA in order to close underperforming businesses and impose rent reductions on others.Potential reorganisation suggestions are also believed to include a significant distribution centre.It is understood that the creditors will meet to vote on the proposal in Mid May.  It is hoping that 88 stores will get rent reductions.There will undoubtedly be some job losses among TOFS's employees, which was estimated to be around 1,800 at the time of last month's takeover, if any so-called "landlord-led" CVA caused store closures. What is a landlord led CVA? A CVA allows the company to terminate its liabilities under a lease provided that the majority of creditors by value (75%) agree. Landlords who do not have large arrears or rent owed to them are permitted in law to vote to the value of only 12 months rent.  In the majority of cases, landlords make up a small proportion of the total debts so they are routinely out voted by suppliers, HMRC etc.This explains why many retailers use this as a way of reducing rental costs as they can make up a high proportion of the companies costs but not their liabilities. So in other words they can get rid of loss making stores and not be on the hook for the 5 year lease.  By applying pressure on landlords, by threatening a CVA, they can get rent reductions on premises that might otherwise have to close.TOFS, which sells beauty brands such as L'Oreal, the sportswear label Adidas and DIY tools made by Black & Decker, has about 180 outlets.​​We will keep this page updated once we know more.

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TOFS In Administration
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The Revolution Bars Files Notice of Intention to Appoint Administrators

in A guide for redundant employees in administration or insolvency situations Notice of Intention to Appoint Administrators Retail What Does Going Into Administration Mean?

The Revel Collective, the national bar and gastro pub operator trading primarily under the Revolution, Revolución de Cuba, and Peach Pubs brands, has filed a notice of intention to appoint administrators.The move follows confirmation late last year that the group was actively pursuing a formal sale process to identify a buyer or buyers for the business. While those discussions are understood to be well advanced, the company has acknowledged that the transactions currently under consideration are not expected to deliver any return to shareholders, prompting action to safeguard creditor interests.Unless circumstances change, administrators are expected to take control of the business and its portfolio of around 60 venues within 10 business days. Trading to Continue as Sale Process Advances The group has confirmed that it will continue to trade during the notice period, including its Revolution and Revolución de Cuba venues in Glasgow and Aberdeen, while working with advisers to “preserve as much value as possible for all stakeholders” as the sale process progresses. Impact of Government Measures Cited The Revel Collective, which rebranded from Revolution Bars Group following a restructuring in October 2024, attributed its financial difficulties to the cumulative impact of government interventions announced in the most recent Budget. The company said these measures had undermined efforts to improve trading performance across the estate. Background and Leadership Founded in 1991 as a single bar in Ashton-under-Lyne, Manchester, the business was established by Roy Ellis and Neil Macleod, both of whom exited the company in 2013.The group is currently led by chief executive Rob Pitcher, with the 2024 restructuring also seeing entrepreneur Luke Johnson appointed as non-executive chairman. What This Means for Creditors The filing of a notice of intention to appoint administrators provides the company with a short period of legal protection from creditor action while options are explored.During this time, creditors cannot commence or continue legal proceedings without court permission.The business is continuing to trade, which may help preserve value while a sale of some or all of the business is pursued.If administrators are appointed, they will assess whether a sale, restructuring, or closure of venues offers the best outcome for creditors.Unsecured creditors should be aware that recoveries will depend on the value realised from any sale and the level of secured and preferential claims.

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The Revolution Bars Files Notice of Intention to Appoint Administrators
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The Revel Collective Files Notice of Intention to Appoint Administrators

in A guide for redundant employees in administration or insolvency situations Notice of Intention to Appoint Administrators Retail What Does Going Into Administration Mean?

The Revel Collective, the national bar and gastro pub operator trading primarily under the Revolution, Revolución de Cuba, and Peach Pubs brands, has filed a notice of intention to appoint administrators.The move follows confirmation late last year that the group was actively pursuing a formal sale process to identify a buyer or buyers for the business. While those discussions are understood to be well advanced, the company has acknowledged that the transactions currently under consideration are not expected to deliver any return to shareholders, prompting action to safeguard creditor interests.Unless circumstances change, administrators are expected to take control of the business and its portfolio of around 60 venues within 10 business days. Trading to Continue as Sale Process Advances The group has confirmed that it will continue to trade during the notice period, including its Revolution and Revolución de Cuba venues in Glasgow and Aberdeen, while working with advisers to “preserve as much value as possible for all stakeholders” as the sale process progresses. Impact of Government Measures Cited The Revel Collective, which rebranded from Revolution Bars Group following a restructuring in October 2024, attributed its financial difficulties to the cumulative impact of government interventions announced in the most recent Budget. The company said these measures had undermined efforts to improve trading performance across the estate. Background and Leadership Founded in 1991 as a single bar in Ashton-under-Lyne, Manchester, the business was established by Roy Ellis and Neil Macleod, both of whom exited the company in 2013.The group is currently led by chief executive Rob Pitcher, with the 2024 restructuring also seeing entrepreneur Luke Johnson appointed as non-executive chairman. What This Means for Creditors The filing of a notice of intention to appoint administrators provides the company with a short period of legal protection from creditor action while options are explored.During this time, creditors cannot commence or continue legal proceedings without court permission.The business is continuing to trade, which may help preserve value while a sale of some or all of the business is pursued.If administrators are appointed, they will assess whether a sale, restructuring, or closure of venues offers the best outcome for creditors.Unsecured creditors should be aware that recoveries will depend on the value realised from any sale and the level of secured and preferential claims.

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The Revel Collective Files Notice of Intention to Appoint Administrators
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TGI Fridays Expected To Do A Pre Pack Administration

in A guide for redundant employees in administration or insolvency situations Retail What Does Going Into Administration Mean?

Update 5th January 2026It is understood that TGI Fridays is likely to be sold next week in a Pre Pack Administration.  It is reported that about 15-20 stores may close.  This will mean the majority of the estate will disappear.  It is expected that there will be hundreds of redundancies amongst the 2000 staff.Sugarloaf acquired the chain from Breal Capital and Calveton UK in October of this year and immediately sought to sell it. However, it has been reported that the company filed a notice of intention to appoint administrators on the 5th of December. Could it be that TGIs could go into a CVA? The CVA would only really work if the main problem was high rents or just certain outlets needed to be closed down.  The money that it owes its lender is no doubt secured so they have the power to call in administrators at any time.Without knowing more about its exact financial position it is hard to say.If the company does go into administration it is likely that a number of the restaurants, which are making money, will be snapped up by other restaurant groups and may continue to trade under the TGI brand.  If not then the owners will take advantage of their prime locations.

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TGI Fridays Expected To Do A Pre Pack Administration

LK Bennett in Administration Move

in A guide for redundant employees in administration or insolvency situations News Retail What Does Going Into Administration Mean?

LK Bennett filed a notice of intention to appoint administrators before Christmas.  As such, it looks like the company is going into administration for the second time. What has happened? Following the last administration the firm was ultimately acquired by Rebecca Feng, who ran the brand’s franchises in China, through Byland UK.  The estate was reduced to just 9 stores.Following the acquisition, the firm initially experienced growth, expanding into new categories such as bridal wear, opening stores in key locations, returning to profitability and moving its flagship store and headquarters to Bond Street in London.  However it looks like its success was shortlived.LK Bennett, has 9 stores in the UK and employs 500 people.  The company are struggling financially, and looking to close if no new funding can be found.Problems on the High Street have been well documented recently with high rents and rates, uncertainty, and increases in minimum wages.The Duchess of Cambridge has been a big fan of the brand and so to have been many middle class affluent shoppers.  Ms Bennett was described as the "queen of the kitten heel"  However this time it looks likely to be gone forever on the High Street.

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LK Bennett in Administration Move

Arnold Laver In Administration Threat

in A guide for redundant employees in administration or insolvency situations Retail What Does Going Into Administration Mean?

National Timber Group England Files Notice of Intention to Appoint Administrators National Timber Group England, one of the UK’s largest timber suppliers, has filed a notice of intention to appoint administrators, putting more than 1,000 jobs at risk as the business seeks urgent restructuring and rescue options. The Sheffield-headquartered division, based on Bramall Lane, forms part of National Timber Group Midco, which has also submitted a notice of intention to appoint administrators, indicating financial challenges across the wider group. The business operates a nationwide network of timber distribution and processing sites, trading under several well-known sector brands including Arnold Laver, National Timber Systems, SV Timber and NORclad. Branches in Alfreton, Nottingham and Leicester are among those expected to be impacted.The Financials The group’s most recent accounts, covering the year ending 31 December 2023, reported: Turnover: more than £196 million Pre-tax losses: £6.3 million Headcount: over 1,000 employeesDespite its scale and longstanding market presence, rising costs and weakening demand across the construction sector have contributed to sustained trading pressures.A Century-Old Timber Business National Timber Group England traces its origins back to 1920, when it was founded in Sheffield by Arnold Laver. Over more than a century, it has grown into a major supplier to: joinery manufacturers housebuilders and contractors large-scale infrastructure projectsThe business is supported by extensive warehousing, processing and distribution capabilities, making it a critical part of the UK timber supply chain.What the Notice of Intention Means A Notice of Intention (NOI) to appoint administrators typically provides the company with a short period of protection from creditor action. During this time, options may be explored including: a refinancing or investment deal a sale of the business a restructuring process such as a Company Voluntary Arrangement (CVA) a trading administration if no buyer is found immediatelyThe goal is generally to preserve as much of the business and employment as possible.Sector Impact The construction materials sector has faced sustained challenges, including: reduced housebuilding activity inflationary pressures on imported timber higher financing and logistics costs contractor insolvencies affecting supply-chain payment cyclesNational Timber Group England’s situation is likely to have implications for timber availability and pricing, particularly for joinery and housing developers.Next Steps Administrators are expected to be formally appointed once the NOI period ends, unless a rescue option is secured beforehand. Suppliers, customers and employees are awaiting further updates as the restructuring process progresses.

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Arnold Laver In Administration Threat

Sheffield Wednesday To Go Into Administration

in A guide for redundant employees in administration or insolvency situations Retail What Does Going Into Administration Mean?

Sheffield Wednesday is to go into administration according to reports.  ​A notice was filed with the Insolvency and Companies Court at the High Court on Friday morning and Julian Pitts, Kris Wigfield and Paul Stanley of Begbies Traynor have been appointed joint-administrators. Staff have been briefed, while administrators also held a meeting with players.The Owls are one of the oldest clubs in the world, having been founded in 1867.  This follows the winding up petition that was served on the club last week by HMRC.  HMRC are owed £1m.The administration will result in the club being deducted 12 points and almost certain relegation.The fans have been very angry with the clubs performance and have even boycotted home games.  It has also been reported that player's wages have not been paid on time.

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Sheffield Wednesday To Go Into Administration
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Mighty Drinks To Go Into Administration

in What Does Going Into Administration Mean?

Mighty Drinks, the Leeds-based vegan milk brand, has announced that it has gone into administration The company cited a number of challenges over the past year, including rising costs and “fragile consumer confidence.” According to the brand this has made it difficult to turn a profit or expand. James Clark and Howard Smith of Interpath have been appointed as joint administrators. “We will now work with the company’s stakeholders to explore the options available, including seeking offers for the business and its assets, including the Mighty brand and related intellectual property,” said Clark in a statement sent to the press. “We invite any parties who may be interested in acquiring the business to contact us as soon as possible.” Over the last few years a number of alternative and vegan foods have gone bust.  In the past they were regarded as high growth businesses in a burgeoning sector and so finding finance wasn't too difficult.  However there has been a sharper focus on profitability recently.Recent failures Allplants: November 2024. ​Plant and Bean: June 2024 Vbites: December 2023

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Mighty Drinks To Go Into Administration

Moorecraft Pottery Is The Latest Potter To Go Bust

in A guide for redundant employees in administration or insolvency situations What Does Going Into Administration Mean?

The directors of Moorcroft Pottery have announced the firm has ceased trading after over 100 years, resulting in 57 job losses, according to the GMB Union.In a social media post on Wednesday, the Stoke-on-Trent firm said it had appointed Moore Recovery to handle voluntary liquidation. No reason was given, but rising energy costs have been cited by industry sources.In March, Moorcroft had warned of possible redundancies due to higher costs and falling sales. The closure is another hit to Stoke-on-Trent’s pottery sector—known as The Potteries—which received World Craft City Status last year. Its tourism site states: "We are the World Capital of Ceramics."2025 has been a difficult year for the industry. Royal Stafford also went into administration in February. Other closures include Dudson (2019), Wade (2023), and Johnsons Tiles (2024).In March, Moorcroft reported energy costs had risen by £250,000 in two years. Keith Brymer Jones said no business could survive that."It's incredibly sad news," he told BBC Radio Stoke. "We've been crying out for support for the ceramics industry and Stoke-on-Trent as a whole for years. It's never been considered a major industry in this country."Rob Flello of Ceramics UK urged government intervention. "Successive governments have just hammered the UK ceramics industry with things like carbon taxes and a whole raft of other taxes that these cheap imports just don't have to worry about,"* he said.Chris Hoofe of GMB added: "The closure of Moorcroft is devastating news for workers and their families, but unfortunately it's not a surprise."The Department for Business and Trade stated: *"We know this will be a concerning time for Moorcroft Pottery workers and their families... ensuring the industry is globally competitive as part of our Plan for Change."Brymer Jones emphasized the broader impact: "It's 57 families that are connected to those jobs and the surrounding area... We're bloody good at making stuff here... and we literally can't afford to lose this skillset."Moorcroft has operated in Burslem since 1913. Founded in 1897 by William Moorcroft with help from Liberty, the firm gained royal recognition in 1928 and was later featured in the Royal Collection. The brand has also been favored by US presidents and British prime ministers.Royal Doulton went bust earlier this year.  The main driver of this failures is the increased energy costs and the inability of the potters to compete with low cost imports that are not subject to the same costs or environmental controls.

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Moorecraft Pottery Is The Latest Potter To Go Bust

Jetline Travel in Administration After It Stopped Trading

in Travel and Transport What Does Going Into Administration Mean?

In March, Jetline Cruise's parent firm, Jetline Travel, which was established in 2000, stopped trading as an ATOL-protected travel agency. According to reports it has now gone into administration.The company operated under a number of brand names at the time, including Save on Sun, Bargain Late Holidays, Best Priced Holidays, Cruise and More, and Elegant Getaways.Jetline Travel reported an operational profit of £655,000 and a turnover of £28.1 million in 2023. 5,000 customers—the majority of whom had reservations for cruise vacations—were impacted when the company stopped operating as an ATOL operator in March.Due to a "breach of contract" with Jetline, a number of well-known cruise reservations with companies like Princess, Cunard, and Holland America have since been cancelled. The Civil Aviation Authority (CAA) released advice for impacted passengers in early March: "If you are currently abroad and have a scheduled flight e-ticket, the flight is still valid for your return trip." Kindly check in with the airline as usual. We are obtaining data from the business and will shortly offer more instructions on how to make a claim for reservations that are ATOL-protected"Bookings that solely include lodging, non-flight packages, or cruises without flights are not covered by the ATOL scheme, the CAA confirmed."Jetline Travel Ltd. acted as an agent for other ATOL holders," they continued. Jetline's ATOL does not safeguard these reservations. To find out who is providing protection, look at the 'Who is protecting your trip?' section on your ATOL Certificate. Get in touch with the ATOL holder directly if they are still operating.Jetline is represented in the travel industry by the Advantage Travel Partnership, whose representative apologised for the incident. They expressed their sadness at Jetline Travel's closure to The Independent. "Since 2015, they have been a valued member, and we are thinking about the impacted consumers and employees."Anyone who has a cruise-only trip booked, or one with just accommodation that doesn't have flights included, are not protected under ATOL.

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Jetline Travel in Administration After It Stopped Trading