Insolvency

Insight / KPMG handles biotech, poly manufacturer administrations

Big Four firm KPMG has taken on the administrations of two companies – a medical innovation start-up and an established polythene film manufacturer – which have both collapsed putting over 200 jobs at risk

Insight / Airline insolvency reform hits turbulence

Government pledges to overhaul the airline insolvency regime in the wake of Thomas Cook’s collapse have run into opposition

Insight / Boris bus manufacturer skids into administration

Northern Ireland bus manufacturer Wrightbus has collapsed and insolvency experts at Deloitte have been appointed to handle the administration of the company, which makes the iconic red London Routemasters and employs some 1,400 people

Accounting / FRC eyes up probe into Thomas Cook collapse

The Financial Reporting Council (FRC) is considering launching an investigation into the collapse of Thomas Cook

Insight / Begbies Traynor Group acquires Exeter firm

Top 20 firm Begbies Traynor Group plc has acquired Regeneratus Consulting 1, an Exeter-based advisory practice specialising in restructuring, turnaround and legal issues

Insight / Thomas Cook in liquidation with 21,000 jobs at risk

Alix Partners and KPMG have been called in as special managers to travel firm Thomas Cook, which has collapsed into compulsory liquidation with debts of £1.2bn, prompting the largest repatriation in peacetime history, and placing 21,000 jobs at risk

Insight / MHA MacIntyre Hudson picks up pieces at property developer

Joint administrators have been appointed to handle the collapsed Inspired Asset Management Ltd and Inspired Developments (London) Plc, two property companies which failed following the jailing of their chief executive for driving and drug offences

Tax / Restaurateur served up nine-year ban after hiding VAT from HMRC

A restaurateur behind Glasgow’s Cyan Restaurant has been disqualified for nine years after failing to pay a £195,000 VAT bill.

Insight / Bolton Wanderers FC rescued in last-minute deal

Bolton Wanderers Football Club has avoided liquidation with a last-minute rescue by Football Ventures (Whites) Limited, which agreed a deal to buy the club and an associated hotel complex

Accounting / Directors’ duties when trading through insolvency

Suzanne Jones, partner at Seddons, examines the consequences for directors working in the 'twilight zone' when companies are teetering on the edge of insolvency and what they need to consider if they continue to trade

Insight / Spudulike latest casual dining casualty

Baked potato fast food chain Spudulike has collapsed after a pre-pack sale of the 45-year old business fell through, resulting in the loss of 300 jobs

Insight / KPMG sells Jack Wills to Sports Direct in £12m deal

KPMG has sold Jack Wills, the upmarket British fashion retailer, out of administration to companies controlled by Sports Direct, the high street empire owned by Mike Ashley, in a deal valued at £12.7m

Insight / KPMG books administration for LateRooms

Tracey Pye, director, and David Costley-Wood, partner, from KPMG restructuring have been appointed joint administrators to LateRooms Ltd, Superbreak Mini-Holidays Ltd and Malvern Travel Technology Ltd, which have collapsed hitting holiday plans for around 42,000 customers

Insight / Company insolvencies hit five-year high

The total number of insolvencies in England and Wales has risen 12% on the same period last year and are at their highest level for five years, according to the Insolvency Service

Audit / KPMG ditched as administrators of Patisserie Valerie

Creditors of café chain Patisserie Valerie have dropped KPMG as administrators after conflicts of interest arose relating to Grant Thornton, the auditor for both businesses
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