has warned that business insolvencies could be set to leap after winding-up
petitions rose sharply during the winter.
The firm’s figures show that winding up petitions, the last step before
insolvency, increased dramatically in the last quarter of 2006 compared to the
‘After a long period of stable low interest rates and an expansion in the
availability of external finance, the pressures on struggling UK businesses now
seem to be mounting,’ said Ric Traynor, executive chairman of Begbies.
‘There is an inexorable slide towards insolvency if the issues faced by those
businesses are not addressed beyond simply borrowing more money and hoping for
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