Blair Nimmo, partner, and Alistair McAlinden, director, of KPMG have been appointed joint administrators of Scottish IT company Hutchinson Networks Ltd, which has collapsed following cashflow difficulties, with the loss of 100 jobs
EY has been called in to handle the administration of British Steel after last-minute attempts to arrange a rescue deal failed and the government announced the company has gone into compulsory liquidation
Celebrity chef Jamie Oliver’s restaurant group has gone into administration after failing to secure additional financial backing with administrators KPMG closing all but threee restaurants immediately
Thomas Hulme, cryptoasset specialist at law firm Mackrell Turner Garrett, examines the rules of insolvency and cryptoassets, and how creditors can recover money from an insolvent person or business’s digital wallet
Members of a horse racing syndicate, Layezy Racing Owners Club, whose owner has been declared bankrupt face losing millions of pounds, because the insolvency means the horses are not able to run under the regulations of the racing industry’s ruling body
The government’s independent airline insolvency review, set up in the wake of the collapse of Monarch Airlines in 2017, has recommended developing a special administration regime (SAR) to keeping aircraft flying in order to repatriate travellers, but has run into industry opposition
Debenhams, which has seen its lenders take control of the troubled high street chain, has had its company voluntary arrangement (CVA) approved by creditors and will be closing 22 stores by early next year, raising the prospect of local authorities losing an estimated £8.5m in business rates
Business advisory firm Quantuma has been named as administrators of Genus UK Ltd, trading as Select, the high street chain which has collapsed putting up to 2,000 jobs at risk
The number of so-called zombie companies, defined as those operating under sustained financial strain, is rising and causing a significant drag-effect on the UK economy, according to analysis from KPMG
Four Seasons, the UK's second largest care home group, has called in administrators as the company faces financial crisis, from over-leveraged debt and escalating running costs exacerbated by the squeeze on local authority funding
Corporate insolvencies rose in the first quarter of 2019, with administrations reaching their highest level for five years, official figures from the Insolvency Service show
The number of businesses judged to be in ‘significant’ distress now stands at 484,000, or 16% of all UK businesses, according to research by Begbies Traynor, which is warning of concerns that the UK could suffer a broader economic slowdown as Brexit uncertainty grows
Provisional estimates show that in 2018-19 personal insolvencies in Scotland increased by 20.5%, while in corporate insolvencies rose by 9.3% according to statistics from the Accountant in Bankruptcy (AiB)
Howard Smith and David Costley-Wood from KPMG’s restructuring practice have been appointed as joint administrators to warehousing and distribution company RPL Transport Ltd, which has collapsed after experiencing cashflow difficulties
