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A pair of brothers who paid themselves hundreds of thousands of pounds while their building firm went bust leaving suppliers owed millions are back in business, to the fury of their creditors. Meanwhile liquidators have identified transactions made in the firm’s dying days which still require further investigation, more than two years after the company
Anger as brothers whose firm went bust owing millions are back in business Read More »
The Crown Farm site’s future is unknown as it goes off to auction – and residents are not happy. The farmland – which is 5.2 acres – on Eton Wick Road is being sold by liquidators McTear Williams & Wood on behalf of owners Cobvale Ltd and the bidding will start on June 17. Speculation
Eton Wick Road could lose land as it goes to auction Read More »
The directors of a building firm, which collapsed owing £1.7m have already set up another company under an almost identical name sparking anger from creditors. Bespoke Norfolk Ltd, based in Hunstanton, went into liquidation at the start of May, with the directors, Ben Day and Stuart Deadman, blaming the impact of coronavirus. A document drawn
Building firm collapses owing £1.7m and is left with just £10,000 to pay people back Read More »
Stanref International (2017) Limited, a Bury-based manufacturer of pressure vessels and heat exchangers, appointed administrators this week. The business was bought out of administration last October but has been unable to secure occupation on its site in Bury’s Northern Way and ran out of time negotiating on another site. Director Adrian Howlett said: “Things were
Bury-Based Manufacturer Goes Back into Administration Read More »
Business failures will continue to rise despite the beginning of the recovery, East Anglian insolvency practitioners warned yesterday as new figures showed the number of firms entering liquidation has risen to a 16-year high. The latest figures from the Insolvency Service revealed that 19,077 companies went into liquation in England and Wales in 2009, the
Source: R3 Recovery Magazine Autumn 2016 Ready to get started? Call us Make an enquiry Business health check
A struggling brewery which employs 12 people has been put up for sale by its directors. Clare Brewing Company, known as the Nethergate Brewery, which has a £2million turnover, is to be sold as a going concern. Business rescue and insolvency specialist McTear Williams & Wood said it had been instructed to act for the
Drug discovery company and Cambridge University spin-out, Biotica Technology, has gone into administration. Based at Chesterford Research Park, the company has been working on polyketides, drug-like molecules produced by micro-organisms in soil, with the aim of finding new treatments for deadly diseases. Chris McKay and Andrew McTear of McTear Williams & Wood were appointed joint
Hopes that Marsham based window manufacturer Norfolk Frames could be saved have been dashed as the company has gone into liquidation with the loss of 60 jobs. Norwich insolvency and business recovery specialist McTear Williams & Wood, which put the company into administration in April is now selling off the assets as part of the
The European Commission is championing a Norfolk entrepreneur who controversially took his company through a pre-pack administration, leaving creditors owed £2.3m. Brussels has declared it wants more “second chance” entrepreneurs like Mike Smith from engineer Derrick Services to tackle the European tendency to punish honest business failures. It wants to echo the United States approach
Failed entrepreneur held up as example for Europe Read More »
Companies in Cambridge continue to buck the trend, with eight going bust during the last quarter, compared with 10 in the previous three months and 15 in the same quarter a year ago. However the news is not so encouraging for the region as a whole, which is going against a national trend of fewer
