Kwik Save has filed a notice of intention to enter administration.
The troubled retailer is working with KPMG restructuring experts in a bid to
look for new funds, and is understood to be considering entering into a
Pre-packs see troubled business find funding or new owners prior to entering
administration. They then file for administration and sell the company’s assets
immediately into the new structure, free of many of the previous
company’s credit liabilities.
But if new funding is not found, then 2,000 jobs at the retailer are under
threat. It has a deadline of next Friday to refinance or enter into
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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