As another major UK retailer goes into administration, what else has happened this week?

While there’s still a couple of weeks of the summer break left to enjoy, we hope you’ve managed to get some rest and relaxation in, ahead of a busy end of the year. 

Hopefully you can use a few minutes of it to catch up on all the important and interesting business & insolvency news stories you might have missed from the past week. 

So if you want to know how why CCJs against businesses have continued to rise; five things directors need to know about Members’ Voluntary Liquidations (MVLs); how to avoid making an overdrawn Directors’ Loan Account (DLA) an anchor and how you can still give your business a summer boost – you can read all these stories and more at our advice centre page.

Claire’s 

The jewellery and accessory store aimed at teenagers has gone into administration with 306 stores and over 2,000 positions across the UK at risk. 

Claire’s made the announcement following news that Claire’s Holdings LLC, their parent company, had entered voluntary Chapter 11 proceedings in the U.S. 

Administrators plan to continue to trade the business while they assess options including exploring the possibility of a sale as a going concern. 

A statement from the administrators said: “Claire’s has long been a popular brand across the UK, known not only for its trend-led accessories but also as the go-to destination for ear piercing. 

“Over the coming weeks, we will endeavour to continue to operate all stores as a going concern for as long as we can, while we assess options for the company.”

Chris Cramer, chief executive of Claire’s, said: “This decision, while difficult, is part of our broader effort to protect the long-term value of Claire’s across all markets.”

Ebuyer

One of the UK’s most well-known PC builders and retailers has been bought in a pre-pack administration deal by Frasers Group. 

EBuyer (UK) Limited had been operating for over 25 years but faced growing financial difficulties over recent years and faced a winding-up petition filed by the landlord of their operating facility over unpaid rent. 

A statement from the business said: “Frasers Group has an established record of successfully taking retail brands forward and unlocking their potential. 

“Ebuyer is a recognised name in the consumer technology space and this transaction provides a platform it can use to re-establish its position as one of the UK’s largest PC components retailers.”

Glaisyers LLP

A Birmingham law firm that was founded in the 19th century has gone into administration. 

Glaisyers LLP was primarily a legal aid care practice that also provided private client work including litigation and personal injury services.

A statement issued by the firm said that in recent years the firm has “experienced a number of challenges, exacerbated by rising costs.” 

Despite “significant efforts to reduce overheads, it has sustained losses for some time and it did not prove possible for a solvent solution to be delivered.”

Through an accelerated mergers and acquisition process, there has been a sale of the work in progress and certain other assets to two other law firms. This has secured 14 jobs and continuity for the client base which “was vitally important, given the governance and compliance requirements in this profession.”

A statement from the Solicitors Regulation Authority (SRA) said: “We’re aware of the firm’s situation as they’ve kept us up to date. All firms have to close in accordance with our rules which are there to protect the interests of current and former clients. It is only if those interests are at risk that we would become involved.”

Secal Logistics

A Shropshire haulier that had been operating for over 20 years has closed and gone into voluntary liquidation. 

Secal Logistics operated from a Telford headquarters, running 19 lorries and working in the retail, gaming and recycling sectors. 

A statement from the business said: “An upsurge in competition from local, single-person, operators – targeting local manufacturers and undercutting prices to operate at margins only single person operators can survive on – caused the company to incur a loss in its final year of trading. 

“This, coupled with increases in employers’ National Insurance, led directors to the inevitable decision to cease trading as they had reached the stage where they could not see how a fundamental shift in their sector would reverse. 

“In addition, with long-standing and loyal staff, the employment costs of any closure were only growing as time went by, meaning the directors needed to avoid the personal liability risk that arises from increasing the potential losses to creditors.”

Andrew Wright Windows

A 90-year-old North Ayrshire windows and doors business has closed for the final time. 

Andrew Wright Windows Ltd and Andrew Wright Glass Ltd had been providing windows and doors for social housing, local authorities, construction and residential since their formation in 1937.

83 employees have been made redundant.

A “significant” slowdown in the construction industry in 2023/24 had a detrimental impact on sales, reducing turnover by approximately 35% for the windows business and 60% glass firm. 

Directors acknowledged that both companies experienced “significant cashflow challenges” among other factors such as contract tendering, rising cost of raw materials and increasing staff costs. 

Despite “exhaustive efforts”, the directors were said to be left with “no option” but to cease trading. 

Mark Bradford and James Fraser, company directors, said: “this is a profoundly sad moment for all at Andrew Wright. 

“Over two years, we’ve done everything we could to turn the business around, but the challenges have proved insurmountable. We’re truly sorry for the impact the closure will have on our employees, customers and the wider community.”

MR Home Improvements

An online door and window retailer in Pontefract has ceased trading and gone into administration. 

MR Home Improvement have made all employees redundant and appointed an administrator to sell off remaining assets for the benefit of creditors. 

A statement from the business put the failure down to unrecouped marketing investment in Google ads and pay per click campaigns coupled with falling credit availability and the cost of living crisis affecting customer spend. 

It said: “Unfortunately, the business’s previous structure proved unsustainable and increased competition in the sector prevented the company from trading successfully.”

Our Lady’s Abingdon

An independent private school in Abingdon, Oxfordshire that was set up by the Sisters of Mercy in 1860 is closing immediately due to financial pressures. 360 pupils from seven to 18 will have to find a new establishment for next term. 

A statement from the school board said: “In recent months, the governors have explored every possible avenue to avoid closure. Extensive talks took place with other schools and organisations, with the hope of securing a merger or acquisition. 

“Until very recently, there was genuine optimism that a solution could be found. Sadly those talks broke down last week, leaving no viable path forward. 

“A range of economic pressures has led to this outcome, mainly the introduction of VAT on school fees, higher National Insurance contributions, the ending of business rates relief for independent schools and rising operational costs. 

“Despite every effort to limit fee increases, affordability has become a growing concern for an increasing number of families. This has led to a sharp decline in pupil numbers in recent months, threatening the school’s short and long-term viability.”

Ballantines

One of Scotland’s last foundries has gone into liquidation after 200 years in business. 

Ballantine Castings was formed in Bo’ness near Falkirk in the early 1820s and had been in continuous operation as an iron foundry since 1856. 

The foundry has been owned and run by the Ballantine family for seven generations and has made some of Scotland’s most iconic ironwork including the famous replica cannons at Edinburgh Castle. 

In 2021, the foundry played a crucial role in restoring the Elizabeth Tower at Parliament, hosting Big Ben. 

A statement from the directors said: “The business specialised in supplying the architectural, engineering, construction and drainage sectors and had been increasingly reliant on support from its parent company amid increasing energy costs.”

The decision sees the loss of 44 positions as a result.

Vertical Future

One of the UK’s top vertical farming businesses has appointed administrators after failing to secure more funding to continue scaling operations. 

Vertical Future had opened eight vertical farms across the UK and raised over £37 million in capital but had been facing widening losses. 

In a statement, the company said: “Vertical Future can confirm that it has engaged advisors to explore strategic options for the business including a potential sale. Like others in the vertical farming sector, we have faced significant headwinds in a difficult capital environment.”

There is still lots of time to make any changes you feel are needed to reach your goals in 2025. 

Get in touch with us today and chat to one of our advisors about what options you have on the table – it’s usually more than you might realise.

The sooner you make contact, the sooner you can begin to make the rest of the year a memorable one for you and your business.