BusinessBusiness RecoveryBusiness recovery – Textile receivership.

Business recovery - Textile receivership.

Kroll Buchler Phillips partners Peter Holder and David Whitehouse have been appointed joint administrative receivers for Cavcomp a Rotherham-based clothing manufacturer, which trades under the name of Marcus Fashions.

The company was forced to discontinue its business after cashflow difficulties.

Receivers were forced to make all 32 members of staff redundant.

Kim Rayment and Fred Satow of PKF have been appointed liquidators of flying school General Airline, which traded under the name European Flyers. The Surrey-based school was established in 1985 and employed 20 flying instructors. The demise of the company came as a knock-on effect of the recent crisis in the airline industry, as well as the bad weather, increased government regulations, a drop in tourism, and rising fuel prices.

David Swaden and Charles MacMillan of BDO Stoy Hayward have been appointed joint administrators to D J Construction, a civil engineering and construction business. Some of the company’s 175 staff have lost their jobs, but the administrators are attempting to run the business to ensure minimum disruption to customers. Swaden said the company was hit by tight margins in an increasingly competitive market.

KPMG corporate recovery has sold the business and assets of Coalpower Limited after the company went into compulsory liquidation in August.

The company’s business, deep mining, was run on a maintenance basis throughout liquidation and will resume full operation in the near future.

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