Begbies Traynor acquires CVR Global in biggest buy yet January 18, 2021 Insolvency specialist Begbies Traynor has acquired CVR Global in a deal worth £20.8m. The move represents the largest insolvency acquisition Begbies Traynor has made to date, and provides a significant expansion of its scale in London and the South of England. The share price of the corporate restructuring firm jumped 5.5 per cent today following [...]
Bankruptcy specialists prepare for boom as economic headwinds hit UK firms December 13, 2022 Corporate restructuring specialists Begbies Traynor and FRP Advisory are expecting a boom in demand for their services in the oncoming economic slump. The advisory businesses are expecting to profit from a surge in insolvencies as worsening economic headwinds start sinking more UK firms. Begbies Traynor’s executive chairman Ric Traynor told City A.M. the consultancy stands [...]
D-Day for Worcester Warriors as deadline looms for rugby club May 2, 2023 It is D-Day for former Premiership rugby club Worcester Warriors with the deadline between the proposed owners Atlas Consortium and administrators Begbies Traynor set to expire today. The administrators, who took over the club in September, swapped contracts with Atlas – led by former Worcester chief executive Jim O’Toole and ex-player James Sandford – on [...]
Begbies Traynor shares defy market slump to rise five per cent following good results February 23, 2021 Begbies Traynor defied London’s market slump today, with shares rising five per cent following encouraging results. In a Q3 update the professional services firm said it was “confident” of the outcome of its full year results, although it gave no actual figures. The business has enjoyed something of an acquisition spree this year. Earlier this [...]
Worcester Warriors set to lose P Share amid sale to Atlas Consortium April 25, 2023 Troubled former Premiership rugby club Worcester Warriors are set to lose their “P Share” imminently, even if their sale is finalised next week, say administrators. The side’s future has been in doubt since entering administration in September, and preferred bidder the Atlas consortium has been told it must complete a buyout by 2 May. In [...]
Exclusive: Home REIT’s biggest tenant dished out £1.2m to bosses before bankruptcy March 27, 2023 The three bosses of Home REIT’s now-bankrupt biggest tenant pocketed over £1.2m last year even as the firm struggled to pay rent and slumped to a multi-million-pound loss, City A.M. can reveal. Gurpaal Judge, the chief of Wolverhampton-based social housing provider Lotus Housing, hiked his own and two directors’ pay to £1.2m in 2022 – [...]
Rising insolvencies have driven a surge in professional indemnity claims against accountants November 23, 2023 Professional indemnity claims have risen as accountants are placed into the firing line in insolvency cases.
Paperchase: Struggling stationery chain expected to appoint administrators today – reports January 31, 2023 Paperchase, the high street stationery retailer, is believed to be on the verge of appointing administrators. The chain store’s parent company is reportedly in the process of bringing in insolvency practitioners from Begbies Traynor, according to Sky News. Paperchase’s shareholders are still holding out for a buyer but rumours are they are looking for a [...]
Exclusive: Worcester Warriors sale in spotlight over administrator’s email to witness February 5, 2023 The impartiality of Worcester Warriors’ sale process has been called into question after the administrators were accused of pressuring a witness ahead of a parliamentary select committee. A partner at DCMS–appointed administrators Begbies Traynor warned the witness that they could be sued for defamation if they repeated allegations about preferred bidder Jim O’Toole’s Atlas consortium [...]
Japanese retailer Muji eyes up pre-pack administration deal to keep UK stores open March 28, 2024 Japanese retailer Muji is lining up a deal to sell itself out of administration in a bid to keep its UK stores open.