Business Recovery - Black cab firm in red.
– KPMG corporate recovery partners, appointed as receivers to Darlows Limited, Darlows Direct Limited and 1st Survey (Wales & West) Limited, all part of the Spicerhaart Group, have made an undisclosed number of redundancies among the 700 staff.
Receivers Richard Heis and Richard Hill closed 52 of 84 branches of the Spicerhaart Group and the remaining branches have been closed while buyers are sought. Darlows, based in south Wales and the west of England, traded as a residential and commercial estate agent.
– Corporate restructuring specialists at AT Kroll Buchler Phillips have been appointed as administrators ad interim to Greenock Morton Football Club.
Kroll partners Graham Martin and Fraser Gray were appointed as joint administrators to the Scottish Division One club and are looking for a buyer. The appointment ends speculation over the club’s future.
– Chartered accountant Leonard Curtis has been appointed administrator of Metrocab (UK) and Hooper Metrocab, the manufacturer and distributor of Metrocab taxi. The company filed for administration in the High Court, following suspension of trading before Christmas after a year of difficult market conditions in the taxi industry.
A question mark hangs over the jobs of 170 people at the manufacturer’s factory in Tamworth and sales outlets in west London and Manchester.
– Administrators at PricewaterhouseCoopers this week secured the sale of the assets and technology of breathe.com for #1.4m to General Universal Stores.
Michael Horrocks and Steven Anthony Pearson from PwC’s Manchester office were appointed last month as joint administrators to the UK’s fifth-largest internet service provider.
Earlier this month PwC made redundant an undisclosed number of the 140 staff’s internet service provider Breathe.com.
The UK-based ISP offered unmetered internet access for a flat fee, but last month was unable to attract further investment. GUS expects breathe.com to experience losses up to #7m over in the coming year ahead.