Irish security and recruitment firm Newcourt has gone into receivership
after failing to renegotiate its bank debt.
Newcourt employs more than 3,000 staff, and controls large subsidiaries such
as Federal Security Group, which employs a further 3,000 people.
Also affected are subsidiaries Acumen Facilities Management, Lenmac
Mechanical Services and the Sigmar recruitment companies.
AIM-listed Newcourt was founded in 2002 by the entrepreneurs Ted O’Neill and
It was in breach of its banking covenants over its €36m debt owed to Bank of
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies