Jameson Smith & Co Ltd

Visit our website for more information on business debt and insolvency solutions at http://www.companydebt.com

Thursday, 27 September 2012

2012 Insolvency & Rescue Awards Almost Upon Us...

This years Insolvency & Rescue Awards will take place on the 10th October and not all the firms that have been nominated into the finals are the big boys.

Some of the bigger firms such as the restructuring teams within RBS, Barclays & Lloyds have helped over 3,500 businesses to carry on trading, saving around 240,000 jobs in the UK. Not all the firms nominated for the final were the larger firms, however, there were some smaller insolvency companies that have also been highlighted as helping to support these fantastic business rescue figures such as MLM CPS, Loggie, Henderson & Wilson Field.

This years Insolvency & Rescue Awards will be held in the Lancaster London Hotel.

Tuesday, 25 September 2012

JJB Entering Administration?

After JJB failed to find a buyer it is now heading for administration. 4,000 jobs are thought to be at risk and the group has had its shares suspended.

As the future of JJB was looking more and more bleak the consideration of an administration had to be taken and it is looking likely that KPMG Insolvency Practitioners will be engaged.

For more information on administration and general business debt help solutions visit www.companydebt.com

Tuesday, 18 September 2012

Further Stores to Close at Blacks...

Owner JD Sports has announced that it is to close a further 48 stores across the UK over a period described as 'long term'.

The closures were announced along with the interim results that Blacks made an operating loss of around £10 million during the 26 week period run up to June 2012.

Insolvency affects businesses of all sizes and knowing how to avoid it if you can be discovered by contacting an insolvency professional as soon as you see the warning signs.


Monday, 17 September 2012

Frankfurt-Based Super Club to Enter Administration

The Cocoon Club in Frankfurt Germany is to enter administration after a recent announcement that the club is having difficulties.

DJ Sven Vath thought of the idea and the club was launched back in 2004 with the intention of brining the clubbing fraternity back to Germany. The well renowned DJ remained a partner in the club.

The company is hoping to preserve the club and rescue it from insolvency via a purchase by any potential buyer in the near future.


Friday, 14 September 2012

New Personal Insolvency Law Introduced in Ireland

There has been a new Irish Insolvency Bill installed as recent as the end of June 2012. This new radical legislation is designed to overhaul Irish law on personal insolvency and Bankruptcy.

One major point that has been addressed is the length of a bankruptcy period from 12 years to just 3. Estimates show that around 21,000 people in Ireland could benefit from the new legislation in the coming year.

This insolvency bill comes as a relief for many people in Ireland who are struggling with personal insolvency problems.


Thursday, 13 September 2012

Former Sharapova Sponsors in Administration

The previous sponsors of tennis superstar Maria Sharapova have recently gone into administration.

Prince Sports Europe Limited started some time ago in the USA as a tennis ball machine manufacturer and grew to be one of the industries leaders in manufacturing and performance. The tennis firm has recently filed for bankruptcy and administrators were appointed on the 15th of August.

Prince Sports Europe Limited backed plenty of well known tennis players such as Jennifer Capriati, Jimmy Connors, Martina Navratilova and Nikolay Davydenko.

Monday, 10 September 2012

UK Business Limited by Red Tape

Britain was ranked 83rd out of 142 countries worldwide by the World Economic Forum when looking at the countries that have the largest regulatory burden on business.

This will no doubt be putting extra strain on the small to medium sized businesses as they find more ways to keep within strict guidelines. 

With additional areas of focus to address such as the regulations in certain areas, cash-flow can be hit if attention is drawn away from what really matters. This can lead to company insolvency problems and often considerations of solutions such as liquidation and voluntary arrangements to help the businesses to carry on trading.

Wednesday, 5 September 2012

Travelodge CVA Confirmed

With the recent approval of the company voluntary arrangement (CVA) proposal for Travelodge by its creditors, the firm can now begin to restructure its property portfolio. 

A huge part of the problem for the Travelodge was the unrealistic lease agreements within the company and the company voluntary arrangement will allow the business to start building off of firmer ground. 

As an alternative solution to liquidation, a company voluntary arrangement allows a struggling firm to trade on through the successful approval and process of the CVA insolvency tool.

For more information on company voluntary arrangement, company liquidation and other insolvency solutions that are available to you visit www.companydebt.com or call us free on 08000 746 757.

Tuesday, 4 September 2012

Tapas Chain Opt For CVA

La Tasca, a Spanish Tapas restaurant chain has recently opted to process a company voluntary arrangement through chosen Insolvency Practitioners - Grant Thornton after a recent meeting.

The struggling restaurant group have engaged Grant Thornton with the intention of processing the company voluntary arrangement (otherwise known as a CVA) within 6 weeks.

Fortunately for La Tasca over 85% of the company's creditors have agreed to the CVA proposal in principle and they only needed 75% to have the proposal approved, so it looks as though the company voluntary arrangement should go ahead as planned.

For more information on how a company voluntary arrangement or CVA may help your limited company to carry on trading please contact us on 08000 746 757 for free insolvency advice today.