Restructuring and Turnaround

Construction firms top Insolvency list in Q1

The construction sector saw the highest number of company insolvencies in the first quarter of the year, despite numbers falling year-on-year, latest data from the Insolvency Service has shown. In total 672 construction firms went bust in England and Wales between January and March, outstripping other sectors such as the ‘wholesale and retail trade; repair…

Start Up Loans scheme turns almost a third of money lent into bad debt

Figures released by the British Business Bank following a Freedom of Information request by the Press Association has found that a third of the public money lent to start up businesses has become bad debt. The Start Up Loans scheme has seen £72.4 million worth of loans written off or fall into default since the programme was launched…

Billions written off by UK businesses each year

http://www.cityam.com/248074/small-businesses-lost-6bn-last-year-not-chasing-bad-debts

Moore Stephens appoint new Partner

Accountancy firm Moore Stephens has appointed Lee Causer as partner working in its restructuring and insolvency team.  

Accountant in Bankruptcy adds two members to its board

Accountant in Bankruptcy (AiB) has appointed Bryan Jackson and Laurie Manson to join AiB as non-executive board members. Both will offer independent professional expertise to the Executive Agency of the Scottish Government. AiB is Scotland’s insolvency service and is responsible for administering the process of personal bankruptcy, the Debt Arrangement Scheme (DAS) and recording corporate…

Hopes for BHS rescue fade as administrators prepare to shut 20 stores

https://www.theguardian.com/business/2016/jul/15/hopes-for-bhs-rescue-fade-as-administrators-prepare-to-shut-20-stores

Menzies and Harris Lipman merge and will keep the Menzies name

Begbies Traynor acquire the trade assets of The P&A Partnership

Chantrey Vellacott and Moore Stephens merge and create CVR Global LLP

Begbies Traynor Group acquire Broadbents Business Recovery

AlixPartners acquires Zolfo Cooper

Leonard Curtis Business Solutions acquire the assets of Shipleys LLP