UK administrations update June 19 – 25

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

Gemini Print Southern Limited – June 19
Gemini Print Southern Limited, a West Sussex-based commercial printer, fell into administration on June 10 after ceasing trading earlier this month. The Gazette subsequently confirmed the appointment of Jonathan Beard and John Walters of Begbies Traynor as joint administrators on June 19.

The company’s trading had been seriously impacted by the COVID-19 pandemic and its challenges were later exacerbated by inflationary pressures, rising costs and unpaid debts that it was owed.

In accounts to July 31 2022, the firm reported turnover of £16.5 million and pre-tax profits of nearly £250,000. At the time, its fixed assets were valued at over £5 million and current assets at around £3.9 million, with total equity of just under £229,000.

Find out more about this administration

Shepherds Bush Developments Limited – June 20
Shepherds Bush Developments Limited, a London-based developer of building projects, fell into administration last week, with James Saunders and Geoffrey Bouchier of Kroll Advisory appointed as joint administrators.

In the company’s accounts for the year to December 31 2022, its current assets were valued at £20.4 million and net liabilities at £402,555.

Southern Tower Services Limited – June 20
Southern Tower Services Limited, a Reading-based supplier of towers and other access solutions to contractors and other tradespeople, fell into administration earlier this month, with Glen Carter and James Hawksworth of RSM Restructuring Advisory appointed as joint administrators.

In the company’s accounts for the year to June 30 2022, its fixed assets were valued at slightly over £1 million and current assets at £402,356, with net assets amounting to £463,450.

Linkline Transport Limited – June 20
Linkline Transport Limited, a Northamptonshire-based logistics company, fell into administration and ceased trading last week, with Richard Harrison and Christopher Pole of Interpath Advisory appointed as joint administrators.

The company’s collapse came after an accelerated M&A process failed to find a buyer, with the firm reportedly unable to trade due to not being able to meet its financial obligations.

In accounts to March 31 2022, its fixed assets were valued at £2.4 million and current assets at £8.6 million, with net assets standing at £4.18 million.

Find out more about Linkline’s collapse here

Ayres Wynd Developments Limited – June 21
Ayres Wynd Developments Limited, a building projects developer based in Edinburgh, fell into administration earlier this month, with Stephen Hunt of Griffiths appointed as the company’s administrator.

In its accounts for the year to May 31 2022, its fixed assets were valued at £100,000 and total current assets at £1.5 million, with total net assets amounting to £285,860.

Thomas Goode & Co Limited – June 21
Thomas Goode & Co Limited, a supplier and retailer of fine china, silverware and table linen, fell into administration last week, with David Elliott and Mark Reynolds of Valentine & Co appointed as joint administrators.

The administration comes just over a month after the prestigious, longstanding company faced a winding-up petition from HMRC over an unpaid tax bill. In accounts for the year to March 31 2022, the company’s fixed assets were valued at slightly over £500,000 and current assets at around £1.7 million. However, its net liabilities at the time totalled more than £2.8 million.

E-Post Media Limited – June 21
E-Post Media Limited, which trades as Halo Post Production, is a radio and television post-production company based in London. The firm fell into administration earlier this month, with William Batty and Hugh Jesseman of Antony Batty & Company LLP appointed as joint administrators.

In its accounts for the year to March 31 2023, the company’s fixed assets were valued at £1.08 million and current assets at £1.76 million. At the time, however, the company’s net liabilities stood at £1.17 million.

Find out more about M&A trends in the UK’s film and TV industry

Silk (Clyde Three) Limited – June 21
Silk (Clyde Three) Limited, a Glasgow-based property management company, fell into administration last week, with Emily Ball of Sterling Advisory appointed as administrator.

In the company’s accounts for the year to April 30 2023, its fixed assets were valued at £8.5 million and current assets at £406,807, with net assets amounting to just over £2 million.

Northway Mushrooms Limited – June 21
Northway Mushrooms Limited, a mushroom distribution and composting firm based in Dungannon, Northern Ireland, fell into administration earlier this month, with Andrew Dolliver and Joseph Charleton of Ernst & Young appointed as joint administrators.

The company has recently been in the news due to community protests over the smell coming from its factory near Dungannon and concerns about the health impact of the site for local residents.

In accounts for the year to December 31 2021, the company reported revenue of £73.6 million, down slightly from £74.4 million a year earlier, while falling from a post-tax profit of £2.1 million to a post-tax loss of over £1.3 million.

Small World Financial Services Group Limited – June 24
Small World Financial Services Group Limited, a group of companies providing cross-border payment services for consumers and businesses, fell into administration last week, with Chris Laverty, Russell Simpson and Jarred Erceg of Grant Thornton appointed as joint administrators.

In the group’s accounts for the year to December 31 2022, it reported revenue of around £137.2 million and gross profit of £47.8 million, but fell to a post-tax loss of £16.9 million. At the time, its total equity stood at £94.3 million.

Cartwright Bros. (Haulage) Limited – June 25
Cartwright Bros. (Haulage) Limited, a haulage firm based in Lincolnshire, fell into administration last week, with Elizabeth Welch and Matthew Ingram of Kroll Advisory appointed as joint administrators.

In its accounts for the year to February 28 2023, the company reported turnover of £11.5 million, remaining steady from the previous year, but fell from a £1.28 million post-tax profit to a post-tax loss of £191,626. At the time, directors said the company had been impacted by rising fuel costs and said they considered the results to be “reasonable” given the “challenging economy.”

Find out more about the challenges facing haulage firms


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