Insolvency Practitioners Report a Busy 2 months
31 New Instructions for our Insolvency Practitioners during September and October 2019
London, Brentwood and Salisbury based Insolvency Practitioners, Antony Batty and Company, was appointed to 31 new cases during September and October 2019. This compares to 21 from the same period in 2018, according to the Insolytics Insolvency League Tables. In this article we summarise the instructions. We are here for when it isn’t business as usual – helping businesses to recover and turn things around where possible.
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If you or your business is facing insolvency, the sooner you contact us, the more we can help.
Our Instructions Cover a Wide Range of Insolvency Types
All the cases give a flavour of the pressures the businesses were under at the time of insolvency, and they cover a range of businesses across different sectors.
The appointments included:
- 2 administrations, one of which is the administration of Fairlight Jones, the upmarket travel business and tour operator that specialised in holidays to Turkey, focusing on boutique hotels and private villas with concierge services.
- 6 Members Voluntary Liquidations. We continue to see directors/owners closing solvent businesses to minimise corporation tax payments. Click here to some of our testimonials for MVLs.
- 3 Liquidations where the directors have acted in a fraudulent manner. We have seen an increase in this type of work in recent months.
- Several Company Voluntary Liquidations.
Insolvency and the Travel Industry
We have been dealing with travel insolvencies for over 20 years, and our administration of Fairlight Jones is our most recent appointment in this area. Other travel sector administrations include: Selsdon Travel Limited, Pinnacle Travel Limited, Hotel Connect, Global Enduro Limited and Sun4U Limited. Click here to see two case studies of our work in travel insolvencies.
Insolvency and the travel industry is a very specialised part of insolvency and requires an Insolvency Practitioner with knowledge of, and expertise in, the sector. In particular, dealing with insolvent travel companies requires an understanding of how the travel industry operates and how consumers are protected.
We have good relationships with the regulators including the CAA, ABTA and IATA as well as the merchant acquirers, such as Barclaycard and Streamline. This enables us to act rapidly in situations where customers are stranded abroad and need repatriating, or find their holiday is cancelled before departure and need to re-book and lodge a claim with the Air Travel Trust Fund.
Contact us if Your Business is Facing Insolvency
If your business is facing difficulties, whatever the reason, please contact our insolvency practitioners for a free initial discussion. Click here for a FREE copy of our ICAEW Insolvency and Restructuring Guide.
Our team of 7 licensed insolvency practitioners, supported by experienced case managers, will work with you to find the right solution for your business, from restructuring, to company voluntary arrangements and administrations.