Debt recovery firm and affiliates enter administration

Wed, 16 Mar 2016 | ADMINISTRATION

Asset valuation and debt recovery firm Winterhill Largo has gone into administration, along with several of its affiliated companies.

Last month, RSM Restructuring Advisory was been appointed to handle the next step. Joint administrators Lindsey Cooper, Chris Ratten and Graham Bushby, were appointed by RSM to manage the following companies: Winterhill Largo Ltd; Largo Collections Ltd; Winterhill Property Ltd; Winterhill Receivables; ABL Services Ltd and Winterhill Asset Ltd.

Winterhill Largo was founded in February 2010, following the merger of Winterhill and Largo businesses. The merged company was based in Blackburn, Lancashire.

The asset valuation and debt recovery firm employed around 25 staff at the time of entering administration across various offices in the Leeds, Manchester and London areas.

The distressed business’s core functions included providing professional services banks, insolvency services, asset-based lenders, and various other public and private funding firms.

Lindsey Cooper, a partner at RSM Restructuring Advisory, said: "We are currently working to find purchasers for the various business streams to maximise returns to creditors.”

For more information on the subject of administration and restructuring, see the Business Sale Report article on Business Recovery and Insolvency Advice.


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