Insolvency

Insight / PwC organises pre-pack deal for Travelex

PwC has been called in as administrators to the Travelex group and has completed a pre-pack deal involving a complex restructuring which will reduce the debt burden at the foreign exchange operator, but will see over 1,300 UK-based employees lose their jobs

Insight / KPMG serves up administration at Byron

Will Wright and Steve Absolom, partners from KPMG’s restructuring practice, have been appointed as joint administrators to Byron Hamburgers Ltd, and put a pre-pack deal on the table as challenging trading conditions saw the casual dining chain shed more than half its jobs 

Insight / New buyer is theme park’s ticket to ride out administration

PwC has found a European buyer for a third-generation family-run theme park in Tamworth, which went into administration after experiencing cashflow difficulties, putting 600 jobs at risk

Insight / DW Sports administration exercises BDO

BDO business restructuring partners, Graham Newton and Ryan Grant, have been appointed joint administrators of fitness chain Dave Whelan Sports Ltd (DW Sports), which has collapsed putting 1,700 jobs at risk

Insight / 'Dramatic' plunge in corporate insolvencies

The government’s coronavirus support measures have had a dramatic impact on corporate insolvencies, which have fallen to their lowest level for four years, according to research by KPMG

Insight / KPMG serves up pre-pack to French dining chain

Will Wright and Steve Absolom, partners from KPMG UK’s restructuring practice, have been appointed joint administrators of Le Bistrot Pierre Ltd, and have arranged a pre-pack of the restaurant chain, saving over 600 jobs

Insight / Package holiday specialist nosedives into administration

David Baxendale and Steven Sherry, partners at PwC, have been appointed as joint administrators of Fleetway Travel Ltd and Fleetway Aviation Ltd, package holiday specialists which have collapsed as a result of the coronavirus crisis with the loss of some 60 jobs

Audit / ESMA to probe German regulators over Wirecard

The European Securities and Markets Authority (ESMA) has announced a fast-track review of the  German financial reporting system, in response to Wirecard’s insolvency following the discovery of a €1.9bn (£1.7bn) hole in its accounts

Insight / Ban for boss owing £289K in tax

A recruitment company boss has been banned for six years after paying himself a £150,000 bonus just before the company went into liquidation owing £289,000 in tax

Insight / Covid-19 retailing slump sees shopfitter collapse

Howard Smith, associate partner, and Dave Costley-Wood, partner, from KPMG’s restructuring practice have been appointed joint administrators of Cardinal Shopfitting and Systems Ltd, which has ceased trading, putting 170 jobs at risk

Insight / Lockdown cracks china retailer

Howard Smith, associate director, and Dave Costley-Wood, partner from KPMG’s restructuring practice, have been appointed joint administrators of Yorkshire lifestyle retailer Peter Jones (China) Ltd, which has collapsed with the loss of 70 jobs

Insight / Phone refurbisher calls up administrators

Chris Pole and Rick Harrison, partners from KPMG’s restructuring practice, have been appointed as joint administrators for Redeem UK Ltd and Redeem Holdings Ltd, two entities of Redeem Group, which have ceased trading with the loss of over 100 jobs

Insight / Administration on the menu at Casual Dining Group

Casual Dining Group (CDG), which operates a range of mid-market restaurant brands including Las Iguanas, Bella Italia and Café Rouge, has collapsed into administration, with the immediate loss of 1,900 jobs

Insight / PwC beds in at Harveys administration

PwC is handling the administration of a group of companies which includes the two high street bedroom furniture retailers Harveys and Bensons for Beds, with some operations sold in a pre-pack deal but over 1,300 jobs still at risk

Insight / Wigan Athletic FC in administration

Paul Stanley, Gerald Krasner and Dean Watson, partners from Begbies Traynor, have been appointed as joint administrators of Wigan Athletic Football Club, the first English professional club to be kicked into touch since the coronavirus pandemic began
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