KBP partners Simon Freakley, Gurpal Johal and Alastair Beveridge were last night appointed by the High Court to the car rental group whose official name is BTI (UK) PLC.
The group employs 140 staff and operates from seven locations at Heathrow, Gatwick, Stansted and central London. It also has over 100 franchises across the country, but they are not included in the administration appointment.
Budget Rent-A-Car International Inc, Budget’s parent company filed for Chapter 11 in the US on 29 July when management appointed KBP to review its UK operation.
The administrator will continue trading the business while it seeks a suitable buyer.
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