CiA
Peacocks to go into administration.
Source: BBC News
Past Times goes into administration.
Source: BBC News
Ready steady cook caught shoplifting at Tesco.
Antony Worrall Thompson, a celebrity crunch victim back in 2009, is in the news again, for shoplifting.
He was recently caught shoplifting cheese from Tesco.
Related link: Celebrity Crunch Victim Antony Worrall Thompson goes into administration
Source: Sky News
Blacks goes into administration.
Source: The Independent
Companies in administration
November 2011
Sushi restaurant Moshi Moshi enters administration – Tue, 08 Nov 2011
Scottish glazier AC Yule falls into administration – Tue, 08 Nov 2011
Powys-based Llangoed Hall Hotel falls into administration – Mon, 07 Nov 2011
Buyer sought for playground maker Timberline – Fri, 04 Nov 2011
Eden Hotel Collection acquires former Von Essen premises – Thu, 03 Nov 2011
Luminar closes some clubs but continues search for buyers – Thu, 03 Nov 2011
October 2011
Historic bone ash company Jesse Shirley enters administration – Fri, 28 Oct 2011
Luminar placed into administration by its banks – Thu, 27 Oct 2011
Hampton by Hilton hotels on the market following administration – Wed, 26 Oct 2011
Norian Beds calls in administrators – Wed, 26 Oct 2011
Assets of train excursion firm for sale – Tue, 25 Oct 2011
Potential administration for Olympic contractors, Parry Bowen – Mon, 24 Oct 2011
Glenorchy Lodge Hotels on the market following administration – Thu, 20 Oct 2011
Options Utility Services calls in administrators – Thu, 20 Oct 2011
Finance provider Davenham Group plc in administration – Tue, 18 Oct 2011
Buyer sought for caravan retailer Discover Leisure – Tue, 18 Oct 2011
Administrators consider future of Orkney Boats Limited – Fri, 14 Oct 2011
Search reportedly underway for buyer for Broker Assistance – Fri, 14 Oct 2011
Buyer sought for car electronics firm Pi Shurlok – Thu, 13 Oct 2011
Holloway White Allom in asset sale post-administration – Wed, 12 Oct 2011
Administrators looking for interest in Thomson Litho – Wed, 12 Oct 2011
TNT Magazine put into administration – Tue, 11 Oct 2011
Administration of Waters AutoPlanet confirmed – Fri, 07 Oct 2011
Limerick’s Opera Centre site back on the market – Wed, 05 Oct 2011
Sources mount about Waters Auto Planet administration – Wed, 05 Oct 2011
Administration a “realistic possibility” for Rangers – Tue, 04 Oct 2011
Swindon Travel ceases trading ahead of administration – Tue, 04 Oct 2011
Avilton Foods sold in pre-pack administration – Mon, 03 Oct 2011
Edinburgh’s Raeburn House Hotel up for sale – Mon, 03 Oct 2011
September 2011
RBS to put Jarvis Hotels through a pre-pack administration – Fri, 30 Sep 2011
Administrators try to find buyer for Motorauctions Leeds – Fri, 30 Sep 2011
Alexon facing potential pre-pack administration – Thu, 29 Sep 2011
Sony Centres up for sale following administration – Tue, 27 Sep 2011
Res-Q Contact Services saved in a pre-pack administration deal – Mon, 26 Sep 2011
Buyer sought for Huddersfield’s Thatchers Furnishings – Fri, 23 Sep 2011
Buyer sought for Highland Toffee brand – Wed, 21 Sep 2011
Buyer sought for Towcester’s Whittlebury Hall – Mon, 19 Sep 2011
School travel company Pinnacle falls into administration – Thu, 15 Sep 2011
Brintons Carpets bought by Carlyle in pre-pack deal – Tue, 13 Sep 2011
Architects Browne Smith Baker fall into administration – Mon, 12 Sep 2011
Assets of FD Kitchens for sale – Wed, 07 Sep 2011
Sharrow Bay Hotel’s search for a buyer continues – Wed, 07 Sep 2011
Administrators appointed to refinishing firm Hex Holdings – Wed, 07 Sep 2011
Buyers sought for Walmsley branches following administration – Fri, 02 Sep 2011
Browns Construction Group in administration – Thu, 01 Sep 2011
August 2011
Coventry City Football Club facing administration – Wed, 31 Aug 2011
Dodd’s Group owners enter administration – Wed, 31 Aug 2011
Scarborough’s Royal Hotel up for sale following administration – Tue, 30 Aug 2011
Children’s brand owner Chorion facing administration – Tue, 30 Aug 2011
PwC handling Parkridge Holdings administration – Fri, 26 Aug 2011
Famous Fitzbillies bakery bought out of administration – Tue, 23 Aug 2011
Care home business Rotel in hands of administrators – Tue, 23 Aug 2011
Oldham property developer in administration – Mon, 22 Aug 2011
O’Grady haulage firm enters administration – Mon, 22 Aug 2011
Nitenite hotel for sale as parent firm enters administration – Fri, 19 Aug 2011
Assets of administration-struck Strathclyde Homes being sold – Fri, 19 Aug 2011
Fit-out specialists Britspace enter administration – Tue, 16 Aug 2011
Buyer sought for TJ Hughes store following administration – Mon, 15 Aug 2011
Administrators seek buyer for BKF Plastics – Fri, 12 Aug 2011
Lombok furniture chain considers administration – Fri, 12 Aug 2011
Carlisle site for sale following administration – Tue, 09 Aug 2011
Irish hotel and courthouse enters administration – Tue, 09 Aug 2011
Regional Landmark Hotels follows subsidiaries into administration – Tue, 09 Aug 2011
Tourists stranded as Holidays 4 UK enters administration – Thu, 04 Aug 2011
Lancashire’s Colne Precinct falls into administration – Wed, 03 Aug 2011
Derbyshire’s Bear Inn falls into administration – Tue, 02 Aug 2011
Davis’s Hotel Verta enters administration – Tue, 02 Aug 2011
Every 3.69 minutes someone is going bankrupt (scary!)
According to Credit Action, the debtors’ charity, people go bankrupt at the rate of one every 3.69 minutes. A property is repossessed in the UK every 11.4 minutes. Spare a thought for the hard-worked staff of the Citizens Advice Bureau who handle an estimated 9.500 new debt problems every day. A staggering 16,348 individual bankruptcy petitions were made in the first three months of this year, along with 2,177 company winding-up petitions due to financial difficulty.
Source: The Independent
Realtime Worlds goes into administration.
Video game makers Realtime Worlds have confirmed they have gone into administration. The company, founded by the creator of Lemmings and Grand Theft Auto, was viewed as one of the biggest players in the UK computer games market.
They were behind the 2007 double-BAFTA winning hit ‘Crackdown’ and APB, which has recently been released.
Related Web Sources:
Total losses = 185
Confetti goes into administration.
Online wedding and celebrations supplies business Confetti has gone into administration. The Manchester-based firm, founded in 1999, has lost 48 of its 94 staff and closed its five high-street shops in Glasgow, Leeds, Birmingham, Reading and London.
Source: The Press Association
Total losses = 48
Threshers on the rack as 2000 jobs go.
Almost 2000 jobs will be lost at chains such as Threshers and Wine Rack, it emerged today, as the administrators to their collapsed owner First Quench said it would close hundreds of stores as part of the adminstration.
First Quench, which also owns Bottoms Up, Haddows, a Scottish chain, and The Local, went into administration on October 29, after being hit by cut-price supermarket competition.
KPMG, the adminstrators to First Quench, said today that 381 stores will close across the brands, which will result in 1908 redundancies in those stores that are closing and 34 at the head office in Welwyn Garden City.
The latest store closures are in addition to the 373 shops KPMG said earlier this month would be closing, with the loss of 1738 jobs. The administrators had previously announced 81 job cuts at the firm’s head office.
Source: Times Online
Total losses = 1908
O’ Neill boardwear stores go into administration.
Sandcity who own O’Neill have gone into administration with a potential loss of 90+ staff at the 11 stores around the country. Administrators KPMG have been brought in and they are going to try and find a buyer for the ailing company. Â Sandcity is actually owned by the clothing company Black Leisure.
Blacks decided there was “no reasonable prospect” of restoring loss-making Sandcity – the subsidiary which owns the stores – to profit.
Potential job loss = 90
Lingerie maker Intimas has brought in the administrators.
Lingerie maker Intimas has brought in the administrators after a long spell of poor trading in the Economic Downturn. The Derbyshire-based business has called in PricewaterhouseCoopers to sell the company as a going concern and protect its 200-odd employees’ positions. The administrators are to review the business and the sale options for Intimas and its main brands. Intimas reported £1.65m of losses in the first half of 2008, due to declining sales.
Intimas specialises in designing women’s lingerie and swimwear. It also manufactures brand goods for labels including Ted Baker, Lepel and Charnos, as well as collections for retailers on the high street. Intimas signed a three-year contract to make products for Caprice Lingerie, in 2006.
Stuart Maddison, joint administrator at PricewaterhouseCoopers, believes that the sale will attract plenty of interest.
Source: Hanna Lahabib at Business Sales Report
Hardware buying group Mica UK in administration.
Mica UK Ltd, a Stafford-based hardware buying and marketing group has gone into administration after a problematic expansion strategy, followed by the Economic Downturn.
The newly launched product Mica Vault, meant an increase of new members, and output levels, however the sales were not enough to cover costs.
The group has suffered from increasing losses and poor cashflow, in the recession.
Mica is a voluntary trading group, which allows its members, independent hardware shops, to compete with larger rivals such as B&Q. The group is owned by the independent hardware store operators, according to the company’s website. The group has over 160 member stores in the UK. The retailers also purchase their stocks through Mica.
Leonard Curtis has been appointed as administrators to the group, and has taken over the warehouse and stock.
The business is to continue to trade under the name of Mica DIY. A long-term supplier to the hardware business Stax Trade Centres is to take over the Vault as Mica’s wholesaler.
Source: Rob Moore
UK Coffee Republic has been placed into administration.
Three main subsidiaries of coffee chain Coffee Republic, Coffee Republic Franchising and Goodbean have been placed into administration after suffering from decreasing consumer spending.
Richard Hill and David Crawshaw of KPMG have been hired as joint administrators. Mr Hill has received a substantial amount of interest, partly from well-known companies. The administrators aim to sell the businesses as going concerns as quickly as possible. Underperforming stores will be shut down and redundancies will be made.
It was only in December that the company announced it had cleared its bank debts of £3.3 million, and was expecting to become cash flow positive by April 2009. Trading in the UK had apparently become stable, though it would be more cautious with its expansion plans. The cafe chain had 184 stores in Britain at the end of last year, 114 of which were concessions, 51 were franchises and the company ran 19.
Coffee Republic was established by brother and sister team Bobby and Sahar Hashemi in 1995. The company failed in its attempt to keep up with now larger competitors such as Starbucks and Costas. Its overly ambitious expansion meant that it has struggled to reach profitability.
The holding company Coffee Republic plc has not been taken into administration.
Source: By Caroline Clayfield
Companies in Administration. (CiA)
- Vanmaker LDV has been placed into administration with 850 jobs possibly being lost. Attempts to sell Birmingham-based LDV as a going concern have failed.
- CragRats theatre and training company goes into adminstration. More than 70 people are believed to have lost their jobs after an award-winning theatre and training company hit financial trouble.
- Sufolk Marine survey company goes bust with a major operation in Lowestoft has gone into administration resulting in 27 local redundancies – and the propsect of more to come.
- Venture Packaging Innovations goes into administration. The company supplies packaging for cosmetics, healthcare, lifestyle and entertainment industries and has been going for 20 years. It specializes in multi-colour printed cartons, bespoke packaging in card, specialist packaging or ‘unusual folding items’. The reasons for the company’s decline into administration are still unknown.
- The Portland Spa Hotel and Conference Centre has been seriously hit by the recession and has called in the administrators.
- Harvey World Travel has gone into administration and sold almost half its branches to newly-created company Vacation World.
- The Staincliffe Hotel in Seaton Carew, near Hartlepool, is looking for a new owner after chef Mark Jones was forced to place the business into administration.
- Deloitte has been lined up to potentially provide administrators to satellite sports business Setanta. The broadcaster is believed to be struggling to pay off it bills for the rights to Premiership games and for the Scottish Premier League.
- Rock board places the company in administration as the slump in the property market claims another high-profile victim. Rock, the property company founded by Paul Kemsley is one of Sir Alan Sugar’s closest advisers.
- Challenge Finance collapses after suspected client fraud.
- Paterson Printing in administration with 40 staff axed.
Bay Trading to sack 1230 employees.
Bay Trading confirmed today that 1230 employees would lose their jobs while 566 jobs would be saved after a company called the Rinku Group bought the remaining 130 shops. Last month Bay Trading went into administration and the 1800 staff members at 260 branches though it was all over.
Job losses = 1230
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