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Company Voluntary Arrangement for Blacks Leisure
The specialist retailer of camping equipment and outdoor clothing, Blacks Leisure, is planning to present to its creditors a company voluntary arrangement (CVA) in an attempt to secure its survival. Blacks operates 256 Millets stores, 116 Blacks Outdoor stores and more than 50 surfwear...
Travel company insolvencies increase
A Leeds-based travel agency, The Package Holiday Company, was one of three firms in the industry to have gone into insolvency within a month. Cambuslang Travel, in Glasgow, also closed for business in August, according to ABTA, the travel association which represents nearly 1,500 firms. The...
Administration for property agent affects Manchester developments
The property sales agent Dylan Harvey Residential (DHR), who acted for several apartment schemes in Manchester and the North West, has been placed into administration . About 500 residential property investors risk losing some or all of their deposits, totalling approximately £6.5...
Insolvency Service reports on compliance with SIP 16
The Insolvency Service reported this week on the first six months' compliance with Statement of Insolvency Practice 16 (SIP 16). The introduction of SIP 16 was supposed to improve the transparency for creditors affected by a pre-pack administration – where a business in financial difficulty...
Court closes down glass recycling group
The High Court has wound-up a group of glass recycling companies (Magna Plc) following an investigation by the Government's Insolvency Service. Its Companies Investigation Branch (CIB) found that Magna Plc had misled the public with "untruths" told to prospective shareholders and had made share...
Administration for Stockport based sports clothing distributor Canterbury.
The European arm of the New Zealand sports performance clothing distributor, Canterbury, has been placed into administration with the loss of 72 UK jobs. Based in Stockport, Cheshire, Canterbury Europe unsuccessfully moved into sports other than its traditional rugby base and has been hit by...
Coffee Republic grinds into administration
The three subsidiaries of the holding company Coffee Republic plc were placed into administration earlier this week following considerable speculation about the financial health of the business. After a period of rapid expansion, the group had about 200 stores worldwide including franchises...
