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Shareholder dispute leads to thermal imaging firm admin

Shareholder dispute leads to thermal imaging firm admin September 11, 2014 A North East business, which developed thermal imaging equipment and reportedly counted Chelsea FC owner Roman Abramovich as a customer, entered administration following a series of technical glitches to its products and a dispute between its shareholders. A report from administrators at BegbiesTraynor has… Continue Reading

Cash Store creditors set for £85m hit

Cash Store creditors set for £85m hit September 11, 2014 An increase in regulations for the payday loans industry along with competition from online lenders contributed to the collapse of Stockport-headquartered group The Cash Store, new documents have revealed. The company entered administration after its Canadian parent group pulled the plug on funding the business,… Continue Reading

Creditors approve Mamas & Papas proposals

Creditors approve Mamas & Papas proposals September 11, 2014 Creditors of the UK retail arm of Mamas & Papas have voted in favour of a company voluntary arrangement (CVA) proposed by the Huddersfield-headquartered nursery brand. The CVA, which was overseen by Deloitte, relates to Mamas & Papas (Retail) Ltd, the company which operates Mamas &… Continue Reading

The Insolvency Service Complaints Gateway – first year report card

The Insolvency Service Complaints Gateway – first year report card 08 SEPTEMBER 2014 | LEXOLOGY In June 2013 the Complaints Gateway was established to provide a single entry point for regulatory complaints against insolvency practitioners.  The Insolvency Service has published an analysis of the complaints received by the Complaints Gateway in its first 12 months;… Continue Reading

Woodberry Bros creditors could miss out on millions

Woodberry Bros creditors could miss out on millions By Storm Rannard | INSIDER MEDIA LIMITED Secured, unsecured and preferential creditors of collapsed Somerset furniture manufacturer Woodberry Bros & Haines may not be repaid in full, a new document seen by Insider has revealed. The company failed….” http://www.insidermedia.com/insider/south-west/123010-?utm_source=southwest_newsletter&utm_medium=top_story_article&utm_campaign=southwest_news_tracker

Board changes at M&P ahead of CVA vote

Board changes at M&P ahead of CVA vote By Laurence Kilgannon | INSIDER MEDIA LIMITED Nursery brand Mamas & Papas has changed its boardroom line-up following the acquisition of a majority stake by private equity group BlueGem and ahead of today’s (9 September 2014) critical vote on the proposals put forward under the terms of… Continue Reading

UK Firms Send More Work Out Of House In Hunt For Savings

UK Firms Send More Work Out Of House In Hunt For Savings By Andrew Strickler | Law360, New York (September 08, 2014, 7:19 PM ET) — Outsourcing in the U.K. has become standard operating procedure as a rash of law firms have penned new deals with vendors for back-office staffing as more managers look to… Continue Reading

United Kingdom: Lehman Brothers: Pensions Regulator Settles For Full Buy-Out Cost

United Kingdom: Lehman Brothers: Pensions Regulator Settles For Full Buy-Out Cost 08 SEPTEMBER 2014 | Anne-Marie Winton | Nabarro LLP The Pensions Regulator’s Financial Support Direction (FSD) case against various companies in the Lehman Brothers group has settled, with the companies agreeing to provide sufficient funding for the full buy-out of the benefits in the… Continue Reading

KP plant closure plan puts Consett jobs at risk

KP plant closure plan puts Consett jobs at risk INSIDER MEDIA LIMITED | 08 SEPTEMBER 2014 Up to 186 jobs are at risk at KP Snacks, including more than 100 in the North East, after the food producer revealed it planned to close factories in Consett and Corby in the East Midlands. The snack food… Continue Reading

Mark Group to let quarter of workforce go

Mark Group to let quarter of workforce go INSIDER MEDIA LIMITED | 08 SEPTEMBER 2014 Leicester-headquartered energy efficiency company Mark Group is in redundancy talks with up to 670 staff which represents about a quarter of its UK workforce. The move follows….” http://www.insidermedia.com/insider/midlands/122868-mark-group-let-quarter-or-workforce-go?utm_source=eastmidlands_newsletter&utm_medium=business_article&utm_campaign=eastmidlands_news_tracker