Wed, 31 Aug 2016 | ADMINISTRATION
Professional services recruitment business PRG Recruitment LLP has been purchased by a new firm in a pre-pack administration.
The new company - Colesco Consulting Ltd - was set up by Margaret Richmond, the former director of PRG, and was incorporated on 2 August, and is headed up by directors Margaret Richmond and Lynne MacDonald.
Colesco purchased the business and assets of PRG from the administrators for an unknown amount and is now operating from serviced offices in Glasgow, the Scottish Daily Record reports.
PRG Recruitment was set up in 2002 by entrepreneur Steve McCutcheon as a professional services recruiter, to specialise in financial services, professional practice, commerce and industry.
Administrators from RSM were drafted in on 16 August, after the business had been struggling with its cash flow. Its accounts for the year ending December 2014 reveal £1.97 million of debt, an increase from debts of £1.13 million recorded for the previous year. The figures are a stark contrast to the reports of McCutcheon's forecast of £10 million in turnover for 2014, after saying revenues for the first six months had reached £4.5 million, showing a 73 per cent year-on-year increase.
Search for businesses for sale
A rare opportunity to acquire a long established, profitable, BMW After Market Specialist, with an excellent reputation. Trading profitably since 1994. Offering complete automotive performance, engineering and styling solutions. This is a retirement...
Provides an extensive range of coffee machinery, which is imported from Italy and Spain, and coffee products, which are sourced within the UK. Offers invited.
FREEHOLD
One of the UK's leading end-to-end service providers. Comprehensive export handling, packing and storage services, providing specialist cargo and goods management to a wide variety of international operations and private clients. 40+ years of success...
|
24
|
|
Jan
|
Yorkshire engineering firm completes MBO deal | MBO/MBI
A West Yorkshire engineering group has been taken over by th...
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
Sign up to receive our acquisition alert emails to get your FREE guide
|
22
|
|
Nov
|
Bristol care home enters administration | ADMINISTRATION
Owner of Woodlands Manor Care Home, Driskal Limited has fall...
|
10
|
|
Sep
|
Health company acquires mint and gum maker | BUSINESS SALE
Newcastle-under-Lyme-headquartered health group Health Made ...
|
14
|
|
Feb
|
Bankrupt group puts four hotels up for sale | COMMERCIAL PROPERTY
Four hotels in the South West of England have been put up fo...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources