Thu, 09 Aug 2012 | ADMINISTRATION
Merlin Claims has entered administration, despite the fact that just two months ago it denied it was facing troubles.
The group covers a number of different firms and the companies entering administration are Merlin Claims Services Holdings, Merlin Claims Services Finance, Merlin Commercial & Complex Claims, Merlin Claims, Merlin Liability Claims, Merlin Surveying Services and Merlin Restoration Repair Services.
BDO LLP business restructuring partners Mark Shaw and Shay Bannon are working on the administration and will be engaging the group's employees and clients to discuss the options available.
Mr Shaw told the Post: “Merlin has been affected by the on-going impact of market conditions, including an increasingly benign claims environment and an overcapacity within the loss adjusting sector.
"In recent months, Merlin has been working through plans to restructure its operations and has also been actively engaged to find an investor or purchaser of the business without success.”
Rumours that the business has been struggling have been circulating for months since the firm lost a solus loss adjusting contract with Legal & General. This was one of the firm's biggest sources of revenue and caused problems for the business despite the fact that Kevin Wood, Merlin chief technical officer, claimed that the business would still have plenty of work.
Utilises a large fleet of articulated units and trailers to provide transportation and delivery services depot-to-depot via fully loaded trailers. Provides its comprehensive service offering for several blue-chip organisations. Receives a high volume...
This independently run Heating Engineers delivers a variety of services to a wide range of clients in its local area.
Established over 15 years this care provider has become very well known in the local area for the high quality of care and companionship they provide to their clients.
02
|
May
|
Two country hotels sold following confidential marketing process | COMMERCIAL PROPERTY
Two country hotels in the South East of England have been so...
02
|
May
|
Two South East accountancy firms agree to merge | MERGER
Two accountancy firms based in the South East have announced...
02
|
May
|
Legal services group completes eighth acquisition | BUSINESS SALE
Acquisitive legal services group Lawfront has completed a de...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.