Administrators from PricewaterhouseCoopers have been appointed at some of the
subsidiary businesses of the Millfield Group, the independent financial adviser.
It is expecting that PwC will be appointed as administrator of the Millfield
Group itself in the next few days, the company said in a statement.
Last week Millfield agreed to sell its Sage Financial Services unit and the
assets of its MPL business to Money Portal, the financial services group, for up
City watchdog the Financial Services Authority has approved the deal.
Millfield said it did not anticipate that there would be any return of
capital to shareholders.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children