Kwik Save has agreed an adjournment of its application for entering into
The courts awarded the troubled retailer the adjournment to allow it time to
sort out a refinancing package.
KPMG is working with Kwik Save
directors to agree a funding package that will save ‘many jobs’ at the
‘Over the past ten weeks, since the business was taken over by new
management, there has been considerable time and capital injected. However, it
became evident that unless the business was restructured, additional funding
would not be forthcoming and it would not have a strong financial future,’ said
a Kwik Save statement.
Accountancy Age revealed that since Kwik Save refinanced earlier in
the year it had continued to face a barrage of county court judgments against
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