Insolvency

Tax / Tax guidance updated for companies entering liquidation

HMRC has published updated guidance on mandatory online filing at the end of a company’s life, outlining the risks for companies that seek informal striking off or enter a Members’ Voluntary Liquidation (MVL) and therefore do not qualify for exemption

Insight / Payday lender enters administration

Paul Boyle and David Clements of Harrisons Business Recovery and Insolvency Ltd have been appointed joint administrators of CFO Lending Ltd, a payday lender which has hit cashflow difficulties after it was required to provide over £34m of redress to more than 97,000 customers for unfair practices following an investigation by the Financial Conduct Authority (FCA)

Insight / Tax fraud marks end of road for haulier

A road haulage company director, has been disqualified for eight years after failing to maintain adequate company records and withholding some £175,000 due to HMRC

Insight / AlixPartners called in to fashion Jaeger administration

Peter Saville, Ryan Grant and Catherine Williamson of AlixPartners have been appointed joint administrators to the upmarket fashion chain Jaeger, which has failed to find a buyer after an extensive search and has now collapsed, putting 680 jobs at risk

Insight / Disqualification for dentist owing HMRC £100k

A Harley Street dentist has been disqualified as a director for seven years, after his company went into administration owing HMRC more than £100,000 and he was discovered to have spent over £1m of company money on a personally-owned property in a French ski resort

Insight / Court-appointed receivers called in to smooth divorce breach

Milsted Langdon insolvency partner Simon Rowe explains how the use of court-appointed receivers helped solve a complex divorce breach

Insight / Leyton Orient club doctor leaves as players go unpaid

The crisis engulfing League Two football club Leyton Orient has deepened as the club’s doctor resigned after players and staff were unpaid this month

Insight / Administration flattens packaging company

Jonny Marston and Howard Smith from KPMG have been appointed joint administrators to Pulse Flexible Packaging Ltd, a leading manufacturer of flexible packaging for the consumer goods sector, which is experiencing financial difficulties putting 350 jobs at risk

Insight / Mobility products supplier enters administration

Keith Marshall and Gareth Harris of RSM restructuring advisory have been appointed joint administrators of Hartmond Ltd, a Yorkshire-based mobility products supplier, which has collapsed with the loss of all jobs

Insight / 99p Stores go into administration

AlixPartners has been appointed as administrators to the discount chain 99p Stores, having been called in by Poundland which bought its rival for £55m less than two years ago

Insight / Insolvency rule change will create period of uncertainty

An overhaul of the way insolvency cases are handled from 6 April will create a period of uncertainty for practitioners as physical creditor meetings fall by the wayside and email communications become the default preference, warns Sean Moran, partner and insolvency law specialist at Shakespeare Martineau

Tax / Leyton Orient winding-up order pushed back until June

Struggling League Two football club Leyton Orient has been granted a stay of execution to pay off its debt or sell by 12 June or be wound up

Insight / KPMG finds buyer to fit Jones Bootmaker

KPMG has found a buyer for Jones Bootmaker, the footwear retailer with over 100 branches across the UK, selling the company to private equity firm Endless, in a move which saves the company from going into administration

Tax / Warning to SMEs over hike in winding up applications

Last year saw a 12% hike in HMRC applications to wind up businesses in order to recover unpaid tax, up to 3,906 in 2016 from 3,485 in 2015, according to analysis by Funding Options, which says SMEs are at particular risk

Insight / PwC appointed administrators to footwear retail chain

Tony Barrell, deals director, and Mike Jervis, partner, of PwC have been appointed as joint administrators of Brantano Retail Ltd, after the value shoe retailer collapsed for a second time, putting some 1,000 jobs at risk
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