UK administrations update: August 5 - 12

Since our last update, the following businesses have been confirmed as having fallen into administration. All dates indicate when the administration was announced and not necessarily the dates on which administrators were appointed.

Glaisyers LLP - August 5
Glaisyers LLP, a Birmingham-headquartered law firm, fell into administration at the end of last month, with Gareth Wilcox and Charles Turner of Opus Restructuring appointed as joint administrators.

The firm’s collapse was attributed to a number of factors, which were exacerbated by rising costs. Following their appointment, the joint administrators undertook an accelerated M&A process, securing a sale of the firm’s work in progress and certain other assets. Cartwright King Solicitors acquired the firm’s family or childcare matters, while Davisons Law will take over its civil litigation cases.

In accounts for the year to March 31 2024, Glaisyers LLP’s total assets were valued at approximately £650,000, with total members’ interests totalling marginally less than £140,000.

Find out more about Glaisyers’ collapse

Norjon Engineering Limited - August 7
Norjon Engineering Limited, a precision engineering firm based in Gosport, fell into administration last week, with Alexander Kinninmonth and James Prior of FRP Advisory appointed as joint administrators.

In accounts for the year to August 31 2024, the company’s fixed assets were valued at £5.5 million and current assets at £1.2 million, with net assets amounting to £1.6 million.

Hestercombe - August 7
Hestercombe, a house and gardens in Somerset, fell into administration at the start of August, with Mark Boughey and Rebecca Dacre of Forvis Mazars appointed as joint administrators of Hestercombe Gardens Trust and Hestercombe Gardens Limited.

The administration of the visitor attraction, which includes landscaped gardens and a 16th century house and has proven popular as a wedding venue, came amid declining visitor numbers. Wedding and cafe operations failed to generate the profitability needed to remain viable, while the site faced increasing cost pressures.

The joint administrators said that the estate would continue to operate as usual for the time being while they explore options for future sustainability. Options include a restructuring or sale of the site’s assets.

In accounts for the year to December 31 2023, Hestercombe Gardens Trust reported fixed assets of £12.5 million and current assets of around £195,000, with total charity funds amounting to approximately £10.9 million.

Find out more about Hestercombe’s administration

Stagwood Industries Limited - August 7
Stagwood Industries Limited, an engineering firm based in Cambridge, fell into administration in early August, with James Snowdon and Andrew Duncan of MHA appointed as joint administrators.

In accounts for the year to October 31 2024, the company’s fixed assets were valued at slightly over £725,000 and current assets at approximately £1.7 million, with net assets amounting to just under £480,000.

Shoot Blue Hire Limited - August 7
Shoot Blue Hire Limited, a London-based audio visual equipment hire company, fell into administration at the beginning of this month, with Paul Davis and Colin Wilson of Opus Restructuring appointed as joint administrators.

In accounts for the year to March 31 2023, the company’s fixed assets were valued at approximately £1.4 million and current assets at around £567,000, while net assets stood at just shy of £650,000.

Nexus Power Limited - August 8
Nexus Power Limited, an electrical sub contractor based in Enniskillen, fell into administration in late July, with Andrew Ryder of JT Maxwell appointed as administrator.

In accounts for the year ending August 31 2024, the company’s fixed assets were valued at around £166,000 and current assets at £1.1 million, with net assets amounting to slightly over £385,000.

Everpress Limited - August 8
Everpress Limited, a clothing retailer and manufacturer, fell into administration last week, appointing Asher Miller and Stephen Katz of Begbies Traynor as joint administrators.

In accounts for the year to December 31 2023, the company’s assets were valued at around £945,000, but net liabilities exceeded £512,000.

PJ Caravan Sales Limited - August 8
PJ Caravan Sales Limited, a Hampshire-based caravan and recreational vehicle retailer, fell into administration last week, with Andrew Fender and Sandra Fender of Sanderlings LLP appointed as joint administrators.

In accounts for the year ending March 31 2024, the company’s current assets were valued at around £3.3 million, with net assets amounting to approximately £2 million.

Finsbury Contractors Limited - August 8
Finsbury Contractors Limited, a facades contractor previously trading as See Facades, fell into administration at the start of this month, with Jeffrey Brenner and James Stares of Antony Batty & Company appointed as joint administrators.

In accounts for the year to August 31 2024, the company’s fixed assets were valued at around £173,000 and current assets at £3.5 million, with net assets standing at approximately £547,000.

Lorne Fisheries Limited - August 8
Lorne Fisheries Limited, a fishery company based in Taynuilt, fell into administration last week, with Geoffrey Jacobs and Alistair McAlinden of Interpath Advisory appointed as joint administrators.

In accounts for the year to January 31 2024, the company’s fixed assets were valued at around £685,000 and current assets at approximately £1.8 million, with net assets amounting to £1.6 million.

Welltherm Drilling Limited - August 8
Welltherm Drilling Limited, a Newcastle-based test drilling and boring company, fell into administration last week, with James Lumb and Howard Smith of Interpath Advisory appointed as joint administrators.

In accounts for the year to January 31 2024, the company’s reported turnover of £1.8 million, down from £2.2 million a year earlier, while falling from a post-tax profit of around £445,000 to a loss of more than £285,000.

At the time, its fixed assets were valued at £295,000 and current assets at slightly over £756,000, while net assets stood at £296,000.

Aqualife Services Limited - August 11
Aqualife Services Limited, a dedicated fish vaccination company based in Glasgow, fell into administration last week, with Geoffrey Jacobs and Alistair McAlinden of Interpath Advisory appointed as joint administrators.

The company’s collapse was attributed to the postponement of key orders from Canadian customers, as well as ongoing commercial pressures resulting from international uncertainty over tariffs. As a result, the business ceased trading, with all 14 staff made redundant.

The joint administrators are now focused on winding down the company’s operations, while preparing for a sale of its business and assets.

In accounts for the year to December 31 2023, the company’s fixed assets were valued at around £862,000 and current assets at around £838,000. However, the company’s net liabilities at the time exceeded £1.5 million.

Vertical Future Limited - August 12
Vertical Future Limited, a Bishop’s Stortford-based vertical farming company, fell into administration last week, with Richard Cole and Steve Kenny of KBL Advisory appointed as joint administrators.

According to City AM, the company saw losses surpass £10 million last year, after its turnover fell from £6.7 million in 2023 to just £692,000. The company said that, like others in the vertical farming sector, it had faced significant headwinds. The joint administrators will now explore strategic options, including a potential sale.

In accounts for the year to March 31 2024, the company’s fixed assets were valued at £6.5 million and current assets at £12.2 million, with total assets standing at £17.1 million.

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