ICSM's November News Update - including a listing of who has gone bust in runners and riders
Welcome to our November Newsletter
I have said it for months that when the furlough scheme ends in September many 'zombie firms' would go under once their life support is withdrawn. Now the Insolvency Service have confirmed my worst feats with a 56% increase year on year of failing companies for September. And I can only advise that in the coming months many more firms will call it a day due to a number of reasons. Debt is the big one, but also a loss of trade due to the lockdowns and changes in working practices. With many workers staying at home to work rather than heading into town there's been a drop in business for cafes, sandwich shops, pubs, coffee rooms, newsagents and small shops and 9/11 outlets. Then there's labour shortages and fewer HGV drivers causing problems across the sectors.
So if you are waiting in vain for payment from your struggling clients and customers act now to make sure you get paid by using our FREE 90 day membership and FREE legal letters that get results from accounts departments that have put some payments on stop.
Complete them online and send them off and you will find that the vast majority of times you get paid soon afterwards due to the escalating pressure on the debtor. If there is still no payment then our debt collection sector can help. They pull in hundreds of thousands of pounds for our members - often on invoices members have given up on.
I have seen and survived four recessions and believe me cash flow is king. It's your money - you've supplied the goods and services to your customer - so ensure you get paid with our help.
See how easy it is with this video: https://youtu.be/AIycysoFhYo
Don't wait any longer - click here and get paid before your customer goes bust: ICSM Credit | Contact Us
Best wishes
Ian Carrotte
Proprietor of ICSM Credit
For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com
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NEWS
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Surge in insolvencies as furlough ends
ICSM has predicted for weeks that there would be a rise in business collapses once the Chancellor Rishi Sunak’s money ran out. Money that is the furlough scheme that has pumped billions into companies to get them through the covid crisis.
Ian Carrotte of ICSM said 1,446 companies had gone under in September – a 7.2% increase on the previous month as the scheme came to an end. He said: “It is no surprise these firms are going bust as many have not been able to trade due to the lockdowns, HGV driver shortage, labour shortages and debts as their overheads still have to be paid. Overall September’s figures are more than 50% up from the same month in 2020.”
The Insolvency Service said: “A recent Bank of England report found that a third of UK’s small businesses were classified as highly indebted with debt levels of more than 10 times their cash balances, compared with 14% before Covid-19.”
Ian Carrotte said too many firms were allowing companies in trouble to have extended credit terms with little prospect of being paid if they go into administration. He said: “We have been offering free ICSM membership and free legal letters this autumn so to help firms get paid. The legal letters often do the trick as they come from ICSM – one of the most respected credit intelligence groups in the UK. And our debt collecting service pulls in hundreds of thousands in unpaid invoices for members every year. If you don’t get paid – don’t delay.”
Largest failure since Carillion
Building firm NMCN has collapsed into administration after failing to sign off its 2020 accounts and secure a re-financing of the business. Reporting in Construction News last month David Price wrote: “The utilities-focused outfit confirmed that it had filed notice of its intention to appoint Grant Thornton as administrator of the £400m-turnover business. NMCN has unveiled a string of growing profit warnings over the past year, and expected to report a pre-tax loss of around £43m for 2020. Its collapse is the biggest corporate failure in the construction sector since Carillion went bust in January 2018.”
He reported that ‘the administration concerns the parent company of the group, NMCN PLC, and its NMCN Sustainable Solutions Limited subsidiary.’ He added: “The group said its other subsidiaries were not ‘currently’ affected and that NMCN had received offers from interested buyers to take them over as going concerns. The remaining subsidiaries are expected to be sold during the administration process, with the proceeds being used to settle creditor claims. Shareholders are not expected to receive any dividends from the process.”
ICSM understand the firm was expecting to report a pre-tax loss of around £43m for 2020. Ian Carrotte said this was the largest corporate failure in the construction industry since 2018 when Carillion went bust owing many millions of pounds.
West firm owed £2.5m
Last month Plymouth's URBN Construction went bust owing 182 creditors a total of £2.5 million. William Telford of Plymouth Live reported: “URBN Construction left just £44,400 in assets, but was faced with claims totalling more than £2.5m for money owed. Even the taxman, HM Revenue and Customs, will not receive the full £345,687 it is due, despite being a preferential creditor. And 20 former employees are unlikely to see any of the £65,262 that is owed to them.”
Ian Carrotte of ICSM said that around 2,000 building firms had collapsed since 2019 and the start of the Covid-19 crisis.
Plymouth Live said creditors included Burrington Estates (New Homes) Ltd, owed £51,462, while MEP Systems Ltd, based in Estover, Plymouth, was owed £159,523, Plymouth’s YGS Landscapes Ltd is £37,669 out of pocket, Westcountry Fabrication Ltd were taken for £87,333.Others included Exeter’s System Six Kitchens are owed £119,338, Pavilion Construction Ltd, in Newton Abbot, lost £93,179, builders merchants RGB Holdings Ltd, were hit with a £59.135 loss, and Ashburton’s Devon Tarmasters (SW) Ltd was owed £33,943.
Fashion insolvencies
The Covid-19 lockdowns that forced many businesses to close appears to have claimed another victim in the fashion store Roland Mouret based in London’s West End. The high-end luxury store is widely reported as being on the brink of appointing administrators.
The Sunday Times reported Roland Mouret filed the notice due to the slump in sales of their designer dresses. Roland Mouret is owned by designer Roland Mouret and businessman Simon Fuller and their landlord Grosvenor Estates. Other fashion stores killed off by the lockdowns and a switch to online shopping include Laura Ashley, Debenhams, Jaeger, Ralph & Russo and Oasis.
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More stories: check our website for news on logistics, construction, hospitality, printing and publishing - and much more
PLUS: The Bounce Back Loan fraudsters who have been caught out by the Insolvency Service with one spending his loan on his girlfriend and the bookies https://www.icsmcredit.com/news/viewpost.php?id=484
PLUS: And then there were six: the collapsing energy companies leaving a trail of debts, their staff axed and their customers left in the lurch - and now Bulb Energy are on the brink https://www.icsmcredit.com/news/viewpost.php?id=485
PLUS: Covid lockdowns helped to destroy 389,000 businesses in the last 12 months leaving offices empty and shops shut https://www.icsmcredit.com/news/viewpost.php?id=482
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Runners and Riders
Below is a collated list taken from the Government’s London Gazette of various businesses who are experiencing problems in the last few weeks.
We have broken them into different sections to make it easier to see and we have included the company number in each case.
ADVERTISING AGENCIES, DESIGN STUDIOS, MARKETING, MEDIA, PUBLIC RELATIONS
Administrators Appointed
Dawsons Music & Sound Limited 12587114
KLT Communications Limited 11059534
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
Ashworth Creative Limited 09837324
Bacall PR Limited 08562898
Better Marketing Solutions 12330037
Display Revolution Limited 11091409
H J Design Limited 09155535
JGM Media Limited 10134079
Market Link Creative Marketing Limited 00481743
Nationwide Marketing Limited 12392387
Rupert Design and Packaging Limited 11935459
The Original Art Company (UK) Limited 04450492
Thomas Music & Art Limited 08046579
TW Shopfitting Limited 09880591
Whizz Promotions Limited 08936819
Liquidators Appointed
2Plus2 Creative Limited 12474183
Aventor Design Limited 04557090
Beyond Visual Designs Limited 07901085
Blue Active Media Limited 00558127
Be Yourself Marketing Limited 07440633
Chase PR and Social Media Limited 08696010
Climate Media Limited 08268852
Cocktail Marketing Limited 08644191
Cresco Communications Limited 08840929
Digital Fuel Marketing Limited 08607772
Flyght Designs Limited 11959589
Grand Designs Animation Limited 04367385
Greystone Communications Limited 10955776
H & Q Design Limited 09021362
Ian Rogers Media Limited 11366945
In-Out Design Limited 07669421
Joshbrand Promotions Limited 09423212
JHP Design Limited 01858953
Junkyard Creative Limited 10423448
Longhorn Films Limited 05354568
MGK Design Solutions Limited 05642993
Money Tree Media Limited 09153411
Nelson Design Limited03969066
P.B. Signs Limited 05665800
PK Printwork Ventures Limited 08405812
Roadhouse Productions Limited 05551771
SPM Marketing Limited 10823945
TMS Publishing Limited 11002243
The Good Marketing Company Ltd 11444075
The Hotel Marketing (Cyprus) Limited 03230648
Vibe Communications UK Ltd 05742367
Yellow and Grey Design Limited 12121281
Members Voluntary Liquidations
Aldridge Print Group Limited 03923817
Allied Outdoor Advertising Limited 02317772
AM Marketing (Kent) Limited 09935185
Angus Advertising Limited 10668962
Apeseven Media Services Limited 06291905
B S B Design Limited 10553296
BCS Design Limited 04858971
C.F.D. Billboards Limited 01329843
Chiron Communications Limited 01081808
CH Promotions Limited 10668854
Clear Channel Banners Limited 04715228
Clear Channel (Midlands) Limited 01448409
Clear Channel (South West) Limited 03030075
Clear Channel UK (One) Limited 01441161
Clear Channel UK (Three) Limited 01847745
DSG Broadcast Services Limited 06007577
D'Souza-Rauto Broadcast TV Clear Limited 07274970
GHF Media Limited 08957120
Family Type Limited 12178226
F M Media Limited 04143850
Grosvenor Advertising Limited 03130865
Kippax Boy Limited 08839736
KMS Advertising Limited 03021896
Linotype Hell Limited 00765637
Mint Solutions Design Limited 08991321
PPS Media Limited 03165439
Spear Communications Limited 03258560
Strategic Communications Consultancy Limited 08070607
Tee Media Company UK Limited 07888317
Total Office Printing Services Limited 01014073
Town and City Advertising Limited 01624909
Vision Posters Limited 02526180
XR Design Limited 11732366
Petitions to Wind Up
Aequitas Packing (UK) Limited 08913537
Winding up orders
One Space Media Limited 06741203
CAFES, DRINK, FOOD, PUBS, RESTAURANTS
Compulsory Liquidators Appointed S 136
Manchester Food Traders Limited 05559270
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
85 Leisure Limited 11256791
Garvey Taverns Limited 10123337
HIIT Kitchen Food Services Limited 11197965
L & O Meats Limited 03883042
Molana Foods Limited 09252081
Orange Acorn Taverns Limited 09899819
Pearl Food Distribution Limited 07908857
Peoples Coffee Limited 09855202
Raw Construction (Foods) Ltd 09552033
Star Spice And Grill Limited 12288018
Taste Cuisine Limited 06744692
The Lounge Restaurant Manchester Limited 08803380
The Lunch Box (A & D) Limited 04505392
Wakefield Pizza and Kebab Limited 12292364
Liquidators Appointed
AAHZ Hospitality (PVT) Limited 12057477
ADC Food Limited 09722515
A & W Foods Limited 10385115
AYS Food Limited 11240813
Bargain Drink Busters Limited 08086095
Birrell Bars Limited 12140031
Butterfly Food Limited 12253955
Caffeine Lounge Ltd 11745088
Concept Food Services Ltd 07757194
Cotleigh Brewery Limited 04758308
D & P Food and Wine Limited 11411793
Dorset Food Limited Limited 11927563
D.Rock Champagne Limited 11696043
Duck Restaurant Limited 11333949
Foodafayre (Uk) Limited 04005117
Global Food & Drink Supermarket Limited 11304891
Hai Shui Restaurant Limited 08541398
JMP Catering Limited 11827155
K D Restaurant Group Limited 10083992
Ladybird Off Licence Limited 09729407
Maido Foods Limited 10265708
Meat Boutique Limited 13150265
Mettricks Limited 08327715
Munchies Grilled Limited 11994771
New Dawn Foods Limited 08078983
Pizza Unit Limited 12290953
Premier Bar and Catering Limited 09797075
Premier Westminster Restaurants Limited 07172594
Rock Grill and Pizza Limited 11249126
Roamers Caterers Limited 09157896
Wardour Foods Limited 05575730
Members Voluntary Liquidations
Bloomsbury Drinks Limited 08462775
K and D Wines Limited 03965255
Pandora Express 1 Limited 04688642
Pandora Express 2 Limited 04688647
Pandora Express 3 Limited 04688610
Pandora Express 4 Limited 04688632
Pandora Express 5 Limited 04709081
Pandora Express 6 Limited 02776512
Pandora Express 7 Limited 04992210
Pizza Express (Soho) Limited 00646528
The Gourmet Pizza Company Limited 02874428
The Good Food Company of Harefield Limited 02344092
Petitions to Wind Up
G Lawrence Wholesale Meat Company Limited 01084692
Winding up orders
OTR Restaurant Limited 09315889
The Meat Company (Sussex) Limited 11974869
CONSTRUCTION, PROPERTY, SURVEYORS, BUILDING TRADES
Administrators Appointed
All Foundations (UK) Limited 06749253
ASA Crushing & Screening Limited 10191566
Hayden Homes Limited 10674359
Kapex Construction Limited 10538428
MS Construction Group Limited 12362907
Res Homes Limited 10781847
Shackleton, Wintle and Lane Limited 01736379
Administrators Meetings Para 51
Minister Building Company Limited 06402398
Saul Brothers Limited 06739784
Compulsory Liquidators Appointed s 136
GILB Construction Limited 07123381
SCG Building Services Limited 08408460
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
Ashford Newbuild Limited 11825307
Beechwood Construction Limited 07092676
Bow Builders Limited 10310438
Camellia Construction Limited 12285488
CG Rail Limited 09574790
Easy Access Construction Limited 04778979
Elm Rail Limited 11578798
Fairhold Haven Limited 05441733
Fairhold Homes (No.8) Limited 03697443
JJ Building Services (Gloucester) Limited 10480874
Kiveton Rail Limited 10126862
Matt a’Court Building Contractors Limited 10690292
Midgley Construction Limited 08516993
Red Door Homes (NW) Limited 11341186
S & T Builders Limited 08883314
SJS Construction Ltd 08342200
State Of The Art Construction Limited 10699642
Sparrow Building Limited 08842213
Total Construction and Maintenance Limited 07154984
TUD Construction Limited 10906495
Liquidators Appointed
All Work Construction Limited 11408155
APS Plumbing Heating & Gas Engineers Limited 05187423
AS Builders (Warwickshire) Limited 11344840
Boon Consulting (UK) Limited 03926039
Cambourne Construction Limited 11082397
CHB Construction Limited 09858195
Drax Homes Limited 07797352
Fen Rail Services Limited 12477215
FWD Construction Limited 06791986
Infrastructure Developments Limited 08785458
GM Build-UK Limited 11936758
H M T Construction Limited 09362444
Homeseal Windows Limited 10052787
JE Construction Sussex Limited 08858943
Live O Electrical Ltd 11187311
MF Building Construction Limited 10672267
Midgley Construction Limited 08516993
Northeastern Construction Limited 08843179
PHL Plastering Limited 06328525
PJH Building Contractors Limited 06416600
Prism Architectural Limited 04017047
Red Door Homes (NW) Limited 11341186
Robert Sterling Surveyors LLP OC355537
SOS Construction & Civil Engineering Limited 10031940
Span Construction Limited 11320465
Members Voluntary Liquidations
Albert Cottages Limited 07268999
Carbis Bay Developments Limited 08104017
Construction 123 Limited 04904365
Dove Construction Services Limited 02849051
Signature Homes (Southern) Limited 09366118
Petitions to Wind Up
Holmes Construction (Cumbria) Limited 10191432
Regency Build & Development Limited 11112966
Winding Up Dismissal
UK Steel Fabricators Limited 08437203
Winding up orders
BPL Build Limited 09749998
Purple Development Homes Limited 11621690
COURIERS, HAULAGE, LOGISTICS, STORAGE
Administrators Appointed
The Wheel Company (North East) Limited 09051661
W.E. Deane Limited 00768571
W E Deane Liverpool Ltd 11472808
White Peak Distribution Limited 04751874
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
ABC Couriers Limited 03303731
Budget Express Limited 09911392
KV Cars and Couriers Limited 04535471
Pearl Food Distribution Limited 07908857
Rossay Logistics Limited 10308078
Squirrel Freight Limited 11315974
THL Transport Limited 11543224
The General Storage Company Limited 05552475
VAL Transport Limited 10603698
Liquidators Appointed
I 54 Logistics Limited 08842678
A1 Elite Courier Services Limited 08532149
AJD Logistics (Basingstoke) Limited 09446584
AL J Transport Limited 09209900
A P Warehousing and Logistics Limited 11577969
Bishop’s Move Limited 00860924
Darrells Transport Services Limited 07844868
D Gilbert Transport Limited 08610191
Douglas & Sons Logistics Network Ltd. 10288132
Dunlace Taxi Services Limited 04174672
Dolphi Couriers Limited 06658308
DTS Couriers Limited 09223368
FMCG Logistics Limited 11028581
Gorilla Haulage Limited 10672141
K Transport Systems Limited 12140118
One Distribution Limited 11243506
Melbourne Courier Company Limited 06060889
Performance Logistics UK Limited 09634456
Rossay Logistics Ltd 10308078
Squirrel Freight Limited 11315974
Steve Swift Transport Limited 07244115
S. W. Allen Logistics Limited 09639057
THL Transport Limited 11543224
Transport Resources International Limited 05635230
Translogic Limited 03936360
Wolf haulage Limited 11280694
YH Transport Limited 12113384
Members Voluntary Liquidations
Bob Sherwin Limited 04823622
Cardinal Shipping Limited 06693315
Logistics Projects (Pontefract) Limited 10377376
Stobart Transport & Distribution Limited 05907280
Westminster Shipping Limited 06358101
Petitions to Wind Up
P Young Transport Limited 04869024
Winding up orders
LV Distributions Limited 11892823
EVENTS, EXHIBITIONS
Administrators Appointed
F3 Events Limited 05973055
Creditors' Voluntary Liquidation Deemed in Consent Meeting
A-Z Banqueting Solutions Limited 08081799
Fine Manor Events Limited 07198089
Liquidators Appointed
Derby Ritz Events Venue Limited 12256942
Event Exhibition Services Limited 05169724
Elf Events Limited 07606463
Event Exhibition Services Limited 05169724
Exhibitions Conferences & Banqueting Services Limited 04372359
F4d Events Limited 11169643
P.B. Signs Limited 05665800
Walsall Banqueting and Conference Limited 11039991
Members Voluntary Liquidations
Mitie Events & Leisure Services Limited 07836059
The Worx (Canteen) Limited 03446136
Petitions to Wind Up
Billion Lenny Events Limited 11636107
HOLIDAYS, TRAVEL
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
Guided Motorbike Tours Limited 10235164
Polka Dot Cycling Limited 07508781
Seychelles European Reservations Limited 03524046
Liquidators Appointed
Bliss Travel (Bawtry) Limited 08486105
DJ Travel Industry Consultants Limited 07778468
Lotus Tours Limited 10957469
Mark Pollard Travel Limited 06285320
Paradise Travel & Tours Limited 04803012
Rydewell Travel Limited 04634365
Saturn Travel Limited 00965522
Top Travel & Tours Limited 10707657
HOSPITALITY, HOTELS
Administrators Appointed
Fletcher’s Arms Limited 06166950
The White Swan West Coker Limited 03856581
Walworth House Pub Limited 10046639
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
Duck Restaurant Limited 11333949
Henna Wedding & Catering Limited 07782752
Kim Korean Restaurants Limited 07205480
Seychelles European Reservations Limited 03524046
Sky & Star Limited 08818659
Travel Kings Limited 06537441
Trademark Events Limited 10265116
Yaz Cafe Limited 12093358
Liquidators Appointed
Arctic Bars Limited 11850345
Bliss Travel (Bawtry) Limited 08486105
Coaster Coffee Limited 11798228
Elf Events Limited 07606463
Exhibitions Conferences & Banqueting Services Limited 04372359
F4d Events Limited 11169643
Firefly Cinema Club Ltd 13047611
Front Foot Hospitality Limited 08116855
Giant Hospitality Limited 09589283
HMR Sporting Club Limited 11952119
Lahore Restaurant Watford Limited 10870014
Lotus Tours Limited 10957469
Meat The Art Limited 10091868
Paradise Travel & Tours Limited 04803012
RLCL Entertainment Limited 09416395
Top Travel & Tours Limited 10707657
Traditional London Pubs Limited 06350567
Walsall Banqueting and Conference Limited 11039991
Members Voluntary Liquidations
BH Hospitality Limited 10088787
Cyphers Indoor Bowling Company Limited 00312671
Kempston Liberal Working Men’s Club and Institute
MJ Restaurants Limited 06523322
Newlands Coffee Limited 07476611
Swansea Bay Hotel Ltd 11786831
The Pailton Pub Company Limited 06651043
Tourico Holidays UK Limited 07194495
Wear Inns Limited 05613167
Petitions Dismissed
Nite Stop Limited 03018778
Petitions to Wind Up
Billion Lenny Events Limited 11636107
Black Diamond Bars Limited 11452878
Winding Up Orders
OTR Restaurant BM Limited 10647317
MANUFACTURING
Administrators Appointed
AE Aerospace Limited 03286967
All-Counties Supplies Limited 02677377
GBM-Manufacturing Limited 01284029
J E Lord & Co Limited 04192816
Trade Business Limited 05490057
Compulsory Liquidators Appointed s 136
Oso Polymers UK Limited 11167768
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
Chistya Clothing (Leicester) Limited 10110748
DHK Fashion Limited 11579336
JTD Engineering Limited 11637181
Kitchen and Bathroom Collective Limited 07488220
Refine Garment Processing Limited 10941759
Scope Engineering Services Limited 09650941
Liquidators Appointed
Atlas Engineering Services Limited 03379887
G & J Engineering Limited 02600227
GAL Fashion Limited 11256573
Relaxing Times Limited 08830125
Mark Woolley Engineering (MWE) Limited 11064379
Pro-Fit Bespoke Fitted Furniture Limited 09315277
Members Voluntary Liquidations
CRM Engineering Services Limited 10773257
Grimes Mechanical Limited 11134204
Mitie Engineering Limited 05077998
Streetwise Fabrications Limited 06652243
Petitions to Wind Up
AG Safebooths UK Limited 09619365
Winding up orders
Oakhurst Engineers North West Limited 11354777
PRINTERS, PUBLISHERS, PAPER & INK MAUNUFACTURERS
Administrators Meetings Para 51
Monument Paper Bag Company Limited (The) 00481099
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
Supreme Digital Print Limited 10503828
Waltham Print Limited 09904745
Liquidators Appointed
Blue Print High Wycombe Limited 08583218
Britannia Sign and Print Limited 11331347
Copyprint UK Limited 00991016
Double Six Press Limited 04131708
Festival Publications Limited 09017770
Mitchells Printers Limited 10523755
P.B. Signs Limited 05665800
PK Printwork Limited 08405812
Supreme Digital Print Limited 10503828
The Westdale Press Limited 01787743
TRB Print and Graphics Limited 05766404
TMS Publishing Limited 11002243
Members Voluntary Liquidations
Aldridge Print Group Limited 03923817
Family Type Limited 12178226
Quill And Ink Limited 08077088
Linotype-Hell Limited 00765637
Total Office Printing Services Limited 01014073
RETAILERS, SHOPPING CENTRES & MARKETS, HIGH STREET TRADERS, WHOLESALERS
Administrators Appointed
FSLP Limited 06470282
Pheasant Clothing Limited 03504842
Superior Meat Processors Limited 09828815
Administrators Meetings Para 51
Clement Browne Limited 07184480
Kurt Orban Partners Limited 08475033
Compulsory Liquidators Appointed s 136
Your Car Solutions Limited 10398386
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
A & S Townsend Limited 04463206
Best Car Seller Limited 10831203
Building Supplies Surrey & Sussex Ltd 11716264
Country Kitchen Superstore Limited 12189896
Cartel Menswear Limited 10848103
Copper Still Company Limited 08966492
Elite Bespoke Linen Limited 07643532
Florence Beauty Limited 10826260
H & B Tailoring Limited 11005742
Miss Euro Limited 06459212
Sun To Sea Cornwall Limited 12253635
Liquidators Appointed
AI Retail Limited 09072997
Bishop Lifting Services (Wales) Limited 01641631
Caisi Aviation Limited 06777180
Care Home Recruitment UK Limited 10900005
Cask And Corks Limited 08267995
C&D Antiques Limited 11588702
Chase Motorcycles Limited 10031824
Dorothy Perkins Retail Limited 01716523
D H Convenience Stores Limited 10367995
D. S. Clothing Limited 04092629
Dress Rail Boutique Limited 11234718
Fancy Dress Superstore Limited 09270590
House Of Bling Ltd 10845669
MacPrint (Blackpool) Limited 03183019
Masterwork Graphic Equipment (UK) Limited 05890721
NT Wholesale Limited 09252851
Stark Naked Lingerie Ltd 12295805
S.T.E.D. Electrical Limited 02610058
Members Voluntary Liquidations
Paramount Jewellery Limited 03721613
West End Cold Stores Limited 02939740
Petitions to Wind Up
Essex County Laundry Limited 00140030
HW Retail Limited 08269584
My London Shopper Limited 12675989
Winding up orders
Golf Depot Limited 02995248
VARIOUS INDUSTRIES
Administrators Appointed
Avro Energy Limited 09174794
Northamptonshire Industrial Training Association Limited 01343155
Ockbrook School 05086591
People’s Energy (Supply) Limited 09844617
Swift Energy UK Limited 08867685
Trinity Nursing Services Limited 05646151
Administrators Meetings Para 51
Essex County Laundry, Limited 00140030
Compulsory Liquidators Appointed s 136
Essex county Laundry Limited 00140030
Lordrite Wooden Floors Limited 06599600
UK Calling Party Ltd 12792732
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
Cleaner Energy Limited 08825096
K. S. Fashion UK Limited 12319293
Norfolk Painting School Limited 06871673
Wildcard Payment Services Limited 12041135
Liquidators Appointed
BBC (Bristol) Club Limited 07201733
Beacons Safety Training Limited 11922735
Carers Elite Homecare Limited 10244151
Darrow Farm, Pet and Equestrian Limited 11907417
Evergreen Education Limited 11363383
Gurkha Coins and Bullion Limited 09226224
Harley Street Therapy Centre Limited 06501573
LG Avionics Ltd 09831991
Platt School Nursery Limited 08488957
RLS Care Services Limited 11682364
Members Voluntary Liquidations
Core Laboratories (UK) IP Company Limited 08772020
JM Highway Management Services Limited 06775117
The Detective Agency Limited 02346660
The Shell Centenary Scholarship Fund 03608466
Wyevale Garden Centres Capital Limited 07942713
Petitions to Wind Up
Addington Equestrian 2019 Limited 11294806
CFL Finance Limited 05718498
United Health Hub Limited 10568746
Wuji Limited 11602117
Winding up orders
Sunbeds Services Limited 11800386
Types of Insolvency
Administration
Administration applies to limited companies and partnerships and is intended to get the company out of trouble and trading again if possible. Administrators can be appointed to a company that is unable, or is likely to become unable, to pay its debts. They can be appointed by the courts (on application from a creditor, directors or partners), the holder of a qualifying floating charge over the assets of the business, or the company or its directors. An administrator's primary goal is to rescue the company as a going concern. If this isn't possible, the administrator will try to get a better result for the creditors than would be possible if the company was wound up. If neither of these is possible, the administrator will sell the company's property to make at least a partial payment to one or more secured or preferential creditors, such as employees or the bank.
Administrators Meetings Para 51
This statement by the administrator of his proposals must be accompanied by an invitation to an initial creditors' meeting (Sch B1, para 51(1)).
Bankruptcy
This can only apply to individuals (including sole traders and individual members of a partnership). Bankruptcy petitions may be presented to the court by the individual, by creditors who are owed £750 or more, or by the supervisor of an individual voluntary arrangement. A bankruptcy order is made by the court.
Company Voluntary Arrangement (CVA)
A company comes to an arrangement with its creditors to pay the debts in full or in part over time. A CVA begins with the company (or its adviser) drafting a formal proposal at a Creditors' Meeting to pay part or all of the debts. If the proposal is accepted by the creditors, the arrangement will become legally binding and the directors will retain control of the company.
Compulsory Liquidation
This is the winding up of a company or a partnership by a court order (a winding up order). A petition is normally presented to the court by a creditor stating that he or she is owed a sum of money by the company and that the company cannot pay.
The Official Receiver becomes liquidator when the order is made but an Insolvency Practitioner will be appointed to take over if the company has significant assets. The liquidator's role is to realise the company's assets, pay all the fees and charges arising from the liquidation, and pay the creditors as far as funds allow in a strict order of priority.
Compulsory Liquidators Appointed S 136
When a winding-up order has been made, the Official Receiver is initially appointed as liquidator (section 136, IA 1986). The company's creditors and contributories may appoint another individual, who must be a registered insolvency practitioner, to act as liquidator (section 139, IA 1986). More than one liquidator can be appointed to act jointly.
Creditors' Voluntary Liquidation
Here the shareholders pass a resolution to wind the company up without the need for a court order. A Creditors' Meeting is held to nominate the appointment of a liquidator and consider a statement of affairs. Creditors can appoint a committee to work with the liquidator, whose role is to realise the company's assets, pay all the fees and charges arising from the liquidation, and pay the creditors as far as funds allow in a strict order of priority.
Creditors' Voluntary Liquidation Deemed in Consent Meeting
Creditors are now 'deemed to have consented' to a decision or resolution if 10% of creditors (by value) have not objected to it. In other words, if objections are not received by the specified decision date, creditors are 'deemed to have consented' to the decision or resolution.
Individual Voluntary Arrangement (IVA)
An individual comes to an arrangement with creditors to pay his/her debts in full or in part over time as an alternative to bankruptcy. The arrangement is set up by a licensed Insolvency Practitioner who will put it to a meeting of creditors. If the proposal is accepted at the meeting, the agreement reached with the creditors will be legally binding. An Interim Order is sometimes issued by a court and will immediately protect the debtor from any legal action by creditors.
Petitions to Wind Up
A winding up petition is a legal notice put forward to the court by a creditor. The application, in effect, asks the court to liquidate the company as they believe the company is insolvent. Proceeds of the liquidation can be used to pay back creditors.
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