A management team led by Norman Gray is the preferred bidder for the fancy goods manufacturer Spence Bryson and Claremont Fabrics of Derbyshire has topped the offers for the High Quality Contracts business.
- Rod Butcher and Nigel Price, partners at Moore Stephens Corporate Recovery in Birmingham, have been appointed joint administrators for Kidderminster-based carpet maker Master Weavers.
Directors Peter and Marjorie Hardiman, said their business had declined after 15 years due to cheap foreign imports and bad debts. The administrators have made half the workforce redundant and are now running the business as a going concern in the hope of finding a buyer.
- Tenon Recovery has announced the sale of the Haydock-based Wignall Poultry business as a going concern. The company employs 80 people and processes wholesale chicken for the retail market.
The business was sold to its original founder Derek Wignall, who had started it in the 1990s and sold it just over a year ago to Dagonal foods.
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