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News: February 2010

Portsmouth FC is to be the first Premier League club to be placed into administration after four potential buyers failed to prove availability of funds. [more]
Sovereign Oilfield Group, which supplies technical resources and engineering to the oil and gas industry, has entered administration, following failed talks with its lenders to renegotiate the terms of its debt. The company, based in Aberdeen, has approximately 400 employees, located main [more]
Numerous private equity firms are soon to submit second round bids for vintage floral clothing retailer Cath Kidston, which is on the market for £ [more]
The British Seafood Group has been put into administration in a move that has shocked the industry. [more]
Watkins Books, London's longest running esoteric bookshop, has entered administration with the loss of 11 jobs. The bookshop, owned by Lord Salisbury, has ceased to trade since the adm [more]
Portsmouth, currently at the bottom of the Barclays Premier League and risking relegation, may also be the first English premier football club to enter administration. Its future is very much in doubt. [more]
A chain of pubs formerly owned by GRS Inns, the pub management company owned by London Town, which recently went into administration, has been put up for sale. [more]
50-year old house-building company The Thomas Mitchell Group has entered administration, with the appointment of joint administrators Blair Nimmo and Gary Fraser of KPMG Restructuring. The company had been experiencing acute financial pressures while the whole c [more]
Lansdowne Venture Group (LVG), the parent firm of the Red Driving School, has entered administration after a major investor withdrew its support. The joint administrators at MCR seem to believe it will not be long before a [more]
Managed services provider Office2office plc (O2O), has purchased the assets and business of the business process outsourcing (BPO) arm belonging to The Print Factory London (1991) Limited and The DSR Group Limited, which have both entered administration. The administrators Allan Graham and David Standish of KPMG confirmed the sale [more]
There was no prospect of a business sale that would have rescued HJ Berry, one of Lancashire's best-known furniture-making companies, according to administrators. After reports of its collapse last week, the business was officially placed in administration on Monday (15 February). Having traded for more than 160 years, the Chipping-based table and chai [more]
An East London printing business has entered administration again just 18 months after the owner bought it in a pre-pack administration. Church Street Litho Ltd trades under the name of its predecessor Belgravia Colour Printers (BCP). Insolvency practitioners Peter Kubik and Andrew Andronikou of Hacker Young have been hired as the administrators to the business. [more]
The Queen's property company, the Crown Estate, is sounding out overseas investors regarding the possible sale of Regent Street, home to world-renowned brands including Apple and Ham [more]
EMI has put its famous Abbey Road recording studios in St John's Wood, London, on the market. It is understood a sale could bring in tens of millions of po [more]
London Town, the debt-ridden firm that has been working with companies like Punch Taverns and Enterprise Inns to re-open closed pubs, is reported to be on the verge of administration. [more]
Motor repair group Kwik-Fit is thought to be mulling a sale of its insurance business to help reduce its debt pile. Advisers at Credit Suisse have been brought in to review strategic options for the business. [more]
A drilling business in Scotland has gone into administration just weeks after its owner and managing director was named the country's emerging entrepreneur of 2009. It's thought around 40 staff at Clyde Valley Drilling have lost their jobs with immediate effect, and workers have hit out at their boss for [more]
The UK arm of neutral vendor and workforce management company the Albany Group is believed to be on the verge of collapse because of financial difficulties. An administrator has yet to be appointed, though it has been confirmed that Albany Technologies has ceased trading. [more]
Divalimit, the parent company of homeware retailer FADS, Texstyle World and Leveys, has been placed into administration. [more]
A declining turnover caused by the recession-hit jobs market has tipped Clerkenwell-based architecture and design recruitment agency Adrem into administration. [more]
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