Insolvency

Insight / Going into administration: a step-by-step guide

When a company faces severe cashflow issues, it is not always the end of the road for the business. Hasib Howlader, director at Hudson Weir, explains the pros and cons of administration from cost implications to the role of the insolvency practitioner

Insight / Administration knocks stuffing out of soft furnishings firm

St Helens-based soft furnishings manufacturer Ena Shaw has collapsed with the loss of over 160 jobs

Insight / Company administrations up 5% in 2019

There was an increase of almost 5% in the number of companies falling into administration over 2019, but predictions of the death of high street retailers may be wide of the mark, according to analysis from KPMG

Insight / Stone masonry firm tumbles into administration

Howard Smith, associate partner, and David Costley-Wood, partner, from KPMG have been appointed joint administrators to J Rotherham Masonry Ltd, which has collapsed

Insight / 160-year old newspaper hits the blocks

Cumberland & Westmorland Herald newspaper has called in administrators after the publisher collapsed after 160 years in print

Insight / Brexit must release bank lending for business

A rising number of company failures isn’t always a bad sign for the economy, says Ian Defty, insolvency practitioner at CVR Global, who is hoping for a post-Brexit injection of capital

Insight / Norton Motorcycles skids into administration

Classic bike maker Norton Motorcycles has collapsed following legal action over an unpaid tax bill, and faces challenges over the operation of its pension scheme

Insight / Deloitte fined £1.8m over Comet administration failings

Deloitte is to pay over £1.8m in fines and costs following a five-year ICAEW investigation into the firm’s handling of the administration of electricals retailer Comet, which collapsed in 2012

Insight / 175-year old estate agency sold out of administration

Begbies Traynor has sold a 175-year old estate agent, Humberts, out of administration in a deal made with a consortium of its existing offices

Insight / Military vehicle manufacturer loses cashflow battle

Blair Nimmo, partner, and James Lumb, director, from KPMG’s restructuring practice have been appointed joint administrators of Penman MW Ltd

Insight / Beales sunk by high rent and low sales

KPMG has been appointed as administrator of department store Beales as the company collapses into administration following high rent and poor Christmas sales

Accounting / Guernsey overhauls corporate insolvency rules

Guernsey is to reform its insolvency laws to create a more effective corporate insolvency regime with more accountability for directors

Tax / Flybe saved by deferral of £106m flight tax bill

The government has caved into pressure from regional UK airline carrier, Flybe, which was flying in the face of potential administration, delaying payment on a £100m plus tax bill for airline passenger duty

Insight / Ex-BHS owner owes pension scheme £9.5m

Following a lengthy legal battle with the regulator, entrepreneur Dominic Chappell has been ordered to pay £9.5m into two pensions schemes connected to the collapsed high street chain BHS, which he bought for £1 in 2015

Insight / Director jailed over fake grant claims

An IT company director who submitted false invoices to government claiming to have supported businesses has received a two-year jail term and been disqualified for eight years
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