The Channel logo

Articles about Insolvency Service

KPMG: UK tech supplier takes on 'majority' of customers from titsup Glasshouse

More than half the workers at defunct storage consultancy Glasshouse Technologies have been chopped after administrator KPMG failed to find an investor to secure the business as a going concern. Glasshouse simply ran out of cash and called in the receivers late last month just days before it was due to defend itself against a …
Paul Kunert, 23 Apr 2014

Burnt-out Comet's VC backers are looking for more cash

The private equity firm involved in Comet's costly crash is back in the market and trying to convince financiers to part with hundreds of millions for a new investment fund. Henry Jackson, boss of OpCapita, the venture capitalist which paid £2 for the British retailer in November 2011 before sending it down in flames a year …
Paul Kunert, 11 Nov 2013
© Copyright Anthony O'Neil and licensed for reuse under this Creative Commons Licence

UK gov probes Comet crash: Public, private sectors LOST £257m

The Department for Business, Innovation and Skills plans to probe the administration of Comet, whose collapse has left the private and public sector out of pocket to the tune of £257m. The Insolvency Service is to launch the investigation after receiving numerous complaints from MPs just as the doors close on Comet's last 49 …
Paul Kunert, 18 Dec 2012
Square Group new premises

Comet brand yanked from its grave: Tycoon vows to open EIGHTY new stores

Electronics retail entrepreneur Clive Coombes is trying to revive the Comet brand name by launching 80 stores over the next two years - and is looking for foolhardy brave investors to support him. In his blog, written in the third person, Coombes, who tried but failed to buy Comet from administrator Deloitte, revealed he has …
Paul Kunert, 19 Aug 2013

Integrator 2e2 axes 319 UK staff, halts pay cheques - insiders

Troubled integrator 2e2 Group has let go 319 UK sales and admin staff and, to add insult to injury, their pay for last month is being withheld, sources claim. After weeks of negotiations by investors and bosses to keep the debt-laden business afloat, the decision was taken yesterday to call in administrators FTI Consulting for …
Paul Kunert, 29 Jan 2013
hands waving dollar bills in the air

Fewer titsup firms, more titsup people

Fewer businesses went into insolvency in the first quarter of 2010 than last year, but a record number of individuals were declared insolvent. In total there were 35,682 individual insolvencies in England and Wales in the first quarter of 2010 - up 17.9 per cent on the same period of 2009. Bankruptcies were down 10.7 per cent, …
John Oates, 07 May 2010
channel

Flood of liquidations as credit dries up

Figures from the Insolvency Service show a big jump in the number of English and Welsh firms going into either compulsory or voluntary liquidation. Compulsory liquidation and creditors' voluntary agreements hit 4,941 firms in the first quarter of 2009, up 56 per cent on the same three months of 2008. 316 companies went into …
John Oates, 01 May 2009
fingers pointing at man

IT boss barred from directorship for eight years

The director of three London IT service firms which collapsed owing £2m, has been barred from holding directorships in any company for eight years. The High Court of Justice heard that William Hall, 51, of Hallam Street, London W1, had displayed unfit conduct by paying himself an excessive salary, while failing to meet his …
Drew Cullen, 26 Nov 2004

Opinion

Lightning

Jack Clark

Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
Microsoft CEO Satya Nadella
ARA_LIbertad

Chris Mellor

Elliott Management sinks its teeth into retiring godhead

Features

Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club
SAP Match Insights
Vorsprung durch grossendatatechnik, as we like to say in Germany
Inside the Google Lab where surgeons prepare the human/dog experiment
Big Blue exec tells El Reg what to keep an eye on