News Hub
Here you’ll find Begbies Traynor Group news and commentary
Eyewear chain sold out of administration, saving 80 job
The UK arm of global eyewear and optician chain, Ollie Quinn UK Limited, has been sold out of administration to OQ Eyewear Limited, with all stores remaining open and safeguarding the jobs of 80 employees.
Begbies Traynor appointed as administrators to kitchen and bedroom manufacturer
Huw Powell, Paul Wood and Mark Malone, partners at Begbies Traynor, have been appointed as joint administrators to kitchen and bedroom manufacturer Highlight Green Acres Limited, which traded as Mereway Kitchens.
Jobs saved as Livingston uPVC windows business bought out of administration
Following the appointment of Ken Pattullo and Jamie Taylor of Begbies Traynor as joint administrators of Livingston-headquartered Evoframes on 17h January 2024, a sale of the business and assets has been completed, saving all 76 jobs.
Number of firms on Merseyside in ‘significant’ financial distress now surges past 5,000
Fresh data released today by Begbies Traynor reveals the number of firms on Merseyside starting 2024 on the brink has now surged past 5,000.
Number of Lancashire firms in ‘significant’ financial distress now surges past 10,000
Fresh data released today by Begbies Traynor reveals the number of Lancashire firms who have started 2024 on the brink has now surged past 10,000.
Number of North West firms in ‘significant’ financial distress now surges past 50,000
Fresh data released today by Begbies Traynor reveals the number of North West firms who have started 2024 on the brink has now surged past 50,000.
More than 47,000 UK businesses start 2024 on the edge of collapse after critical financial distress jumps over 25% again
As we start 2024, the latest Begbies Traynor “Red Flag Alert” report, which has provided a snapshot of British corporate health for over 15 years, highlights the speed at which critical financial distress is growing in the UK after the second consecutive quarter of c.25% growth.
Deal saves 28 skilled jobs and strengthens black country steel industry
A long-established Black Country metal finishing business has been sold out of administration, safeguarding the jobs of 28 skilled workers.
4500 UK retailers face an uncertain New Year as the cost-of-living crisis bites before Christmas
With Christmas just around the corner, new data from leading insolvency firm, Begbies Traynor, covering the first 10 weeks of Q4 2023 (1 October to 14 December), has revealed the full impact of the current economic environment on the retail sector in the UK.
Iconic music venue ceases trading in Bath
A long-established Bath nightclub ceased trading on Monday (4th December), and Begbies Traynor was engaged on Monday 11 December 2023 to assist with the liquidation of the business, which has seen all 26 members of staff being made redundant.
What does 2024 hold for the future of the British high street?
The retail landscape is ever changing and 2024 looks to see no end to the challenges faced by the high street as retailers face the prospect of tempting customers into their stores at a time where consumer confidence is low and discretionary spending power squeezed.
70 jobs saved at Module-AR
The business and assets of a company, specialising in modular building construction, have been acquired out of administration, safeguarding more than 70 jobs.
Begbies Traynor grows Teesside team by almost 60% as record demand continues
The Teesside team of leading rescue and recovery specialist Begbies Traynor has increased its headcount from seven to 11 people over the last six months in response to continuing high levels of demand for its services from SMEs and individuals across the region.
25% Rise in Critical Financial Distress Pushes Almost 40,000 UK Companies Towards Insolvency
The latest Begbies Traynor “Red Flag Alert” report, which has provided a snapshot of British corporate health for the past 15 years, paints a worrying picture for UK businesses as nearly 40,000 companies are revealed to be in a critical financial situation as the pressure of higher interest rates, resilient inflation and weaker consumer confidence take their toll. These pressures are now clearly being seen beyond consumer facing sectors and are becoming widespread, particularly within the construction and property sectors.
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