Courts has racked up debts of £280m, and was desperate for immediate additional funding, which bankers – including Barclays and Royal Bank of Scotland – were unwilling to provide.
KPMG said: ‘We can confirm we are advising banking groups of Courts Plc & UK. We hope to be in a position very soon to make a statement, but at the moment we are not officially appointed.’
If it is appointed, the firm will face the challenge of saving a business with 1,400 UK employees. Its shares, suspended yesterday at 13.5p, had been trading at 300p as recently as April, before a series of profit warnings hit investor confidence.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.