Partners has entered into administration after failing to achieve a
sale of the business.
Grant Thornton partners are acting as administrators for the business, which
had failed in plans to expand into Dubai, reports the FT.
‘The corporate entity had overstretched itself in terms of expansion,’ said
joint administrator Steve Akers.
There were no plans for redundancies among its 80 staff, and investors in its
funds would not lose money as a result of the administration, Akers added.
A sale of the business is still sought.
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