Distressed Businesses

Ethel Austin falls into administration threatening thousands of jobs


It looks like January’s cold-snap has found another victim, in the shape of retail clothing chain Ethel Austin. Some 3,700 jobs are at risk as a result of the firm’s fall into administration, along with its sister com...continue reading

Paper business for sale after going into administration


Administrators are seeking a buyer for a Cheshire paper business after failed efforts to keep the firm solvent. Bridgewater Paper Company in Ellesmere Port, owned by Canadian firm AbitibiBowater, continues to operate while a buye...continue reading

Portsmouth faces administration if business buyer not found


Hot on the heels of Crystal Palace Football Club's confirmation that it had fallen into administration after months of financial hardship, it's claimed Portsmouth faces the same fate unless a buyer snaps up the business ...continue reading

Canny business buyers contribute to rise in distressed acquisitions


Canny bargain-hunters seizing on the opportunity to buy a business while values are low are one of the drivers for acquisitions of insolvent firms in the UK more than doubling over the past year. M&A analysts at insolvency trade ...continue reading

Publishing firm issued with winding up petition


Following an investigation by the Companies Investigation Branch of the Department of Business, a publishing firm in Bolton has been issued with a winding up notice. Smithson Publication was found to be operating a cold-calling ...continue reading

Somerset business sale confirmed by insolvency group


Insolvency group Menzies Corporate Restructuring (MCR) has confirmed that the packaging firm Riverside Flexibles was sold to investors as a going concern this month. The business sale was made by a company called Different Page on...continue reading

Insolvency lag anticipated amid weak return to growth


Following six consecutive quarters of contraction, Britain may finally have emerged from recession, but company collapses could be yet to reach record levels. That's according to insolvency body R3, which also predicts that t...continue reading

Fewer companies in administration


Aggressive cost cutting and improved cash management by firms has meant the number of businesses falling into administration dropped in early 2010. The number of businesses that went into administration in the first quarter of 201...continue reading

Tories set to increase insolvency threshold


Conservative leader David Cameron says that he intends to increase the insolvency threshold from £750 to £2,000 if he becomes Prime Minister at the next general election. The proposal came along with a selection of ot...continue reading

Thornfield Ventures Limited goes into administration


The Rock, a £220 million development in Bury, Lancashire including 60 retail units, a cinema, restaurants, bowling alleys, 170 apartments and a car park, will now be completed by property giant Hammerson after Thornfield Ven...continue reading

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