Another major high-street retailer looks at administration
Kids are returning to school and the weather is turning itself down a couple of notches so we’re definitely in September for the first week of Autumn.
Before you plunge into what is hopefully going to be a busy and productive quarter, we hope you’ve got a few minutes to catch up on all the interesting and important business & insolvency news stories you might have missed from the past seven days.
So if you want to know how an MVL unlocks tax efficiency for directors; six essential considerations about Directors’ Loan Accounts in insolvency; why CCJs against businesses have increased annually once again and how even though it’s Autumn, you can give your business a late summer boost – you can read all these stories and more at our advice centre page.
Bodycare
A high-street health and beauty retailer will appoint administrators placing its 150 stores and 1,500 employees’ future in doubt.
Bodycare was founded more than 55 years ago as a market stall in Lancashire before growing to become a trusted store for thousands of customers.
Specialising in fragrances, toiletries, cosmetics and skincare products, the business is owned by Baaj Capital which also owns In The Style. They tried to buy The Original Factory Shop earlier this year in another venture.
The company secured a £7 million debt facility against retail inventory a few weeks earlier to secure its short-term future.
Venator Materials
Administrators have been appointed to the top, non-trading, holding company in the Venator Group who will market the UK businesses for sale.
The international chemical business operates from sites in Greatham, Wynyard and Birtley. Two other non-trading holding companies – Venator Materials International UK and Venator Investments UK – have also gone into administration while the main UK trading company Venator Materials UK and the group’s US and French businesses will trade as normal.
A statement from the business said: “Venator Group has been severely impacted by increased competition and rising costs in recent months. The appointment of administrators now provides a platform for restructuring and sale of the UK businesses and other businesses worldwide.”
Visit Kent
The tourism organisation that promotes the county of Kent has ceased trading and gone into voluntary liquidation.
It follows the closure of Go To Places which was established by Visit Kent to provide similar tourist support to other counties – in addition to Kent it’s also behind Visit Hertfordshire.
Visit Kent is based in Canterbury and actively promoted the county’s tourism offering both internally and domestically as the county’s officially recognised Destination Management Organisation.
This includes a long-running Kent Big Weekend event which saw thousands of tickets to leading tourism attractions given away free to local residents. The future of this scheme is now in doubt after the faced “a perfect storm of pressures” which made “continued operations increasingly unsustainable”.
The Go To Places board instructed administrators to prepare the company for liquidation.
Doug Bannister, chair of Go To Places, said: “This is not a decision we have arrived at lightly and the situation has arisen not through any single decision or failure, but as a result of a complex and challenging set of circumstances that reflect the wider economic pressures facing the UK’s public and tourism sectors.
“Our incoming CEO and team worked tirelessly to adapt, innovate and advocate for the value of tourism in our region.
“We’re now entering a period of preparation for liquidation. Our priority is to support our staff, stakeholders and partners through this process with transparency and care. We’re exploring every possible avenue to preserve the legacy of our work and to ensure that the voice of tourism continues to be heard.”
Visit Kent had been led since 2018 by Deidre Wells, the former head of tourism for the government. She retired from the role in June and was replaced by Joanna Richardson.
ADHD Foundation
A Liverpool neurodiversity charity has ceased trading and gone into voluntary liquidation.
The ADHD Foundation had championed neurodiversity across the UK for over 20 years. Over this time it has trained an estimated 250,000 professionals, supported more than 120,000 families and provided therapeutic services to over 28,000 children and young people.
John Gillman & Sons
A South West electrical distributor has gone into administration with 78 employees being made redundant with immediate effect.
John Gillman & Sons (Electrical) Ltd are continuing to trade while administrators explore various options including a full or partial sale of the business and assets.
The Gloucester business trades as Domestic Appliance Distributors (DAD) that supply electrical products to the independent retail, housebuilding, social housing and student accomodation sectors.
Collie Haulage
A Scottish timber haulier has closed with the loss of 24 positions.
Coille Haulage were founded in Glasgow over 20 years ago as a family firm and operated over 22 HGVs and 45 trailers, growing to become a respected and recognised name in Scotland’s round timber supply chain.
The company’s directors had explored options for additional third-party funding but no viable solution was available and with critical liabilities falling due, the reluctant decision was made to appoint liquidators.
The company issued a statement confirming the decision and explained: “Like many in the haulage sector, the company faced a perfect storm of challenges – including legacy debts accrued during the pandemic as well as sharp increases in employment and operational costs.
“Operating in a competitive industry, we had limited capacity to pass these cost increases on to its customer base. Despite the directors’ best efforts to secure additional funding, the financial position ultimately became unsustainable.”
Ardmore Construction
A 50 year-old construction business specialising in residential and commercial projects has filed a notice of intent to appoint an administrator.
Ardmore Construction Ltd was set up in 1974 but in the past year had faced claims from several housebuilders including Barratt, Bellway and Taylor Wimpey at the Technology and Construction Court. These are thought to relate to fire safety remediation work.
Ashley Manor
A West Midlands furniture manufacturer has filed a notice of intention to appoint administrators amid challenging conditions.
Ashley Manor are one of the UK’s leading sofa manufacturers and employ more than 100 staff at their factories, head office and showrooms.
The notice also applies to their sister company Alexander & James Sofas which are also part of the TCM Living Group along with Ashley Manor.
A statement issued by the company said: “The decision follows sustained pressure across the UK furniture manufacturing and import sectors driven by inflationary increases in raw material costs, international shipping disruptions, price volatility, higher labour expenses and reduced customer demand for big-ticket items amid the cost-of-living crisis.”
Andy Kennaugh, CEO of TCM Living Group, said: “This has been an extremely difficult decision but one we believe is necessary to protect the interests of all stakeholders whilst we navigate these prolonged market challenges.
“Both Ashley Manor and Alexander & James are respected brands in the UK furniture market and we have been exploring, and continue to explore, every viable option to safeguard their future.”
Alstons Upholstery, a separate business within the TCM Living Group is unaffected.
Filers Travel
A North Devon coach tour operator that has been in business for over 50 years has gone into administration and ceased trading with immediate effect.
Filers Travel were founded in 1969 and operated day trips, coach hire, holidays and provided school bus services to schools in the Ilfracombe area among others.
A statement on the company website confirmed the decision and added “We apologise to all our customers and would like to thank you for all your custom over the past 56 years.
Passengers booked on tours will be contacted by the ABTOT Bonded Coach Holiday Scheme in due course. Passengers booked on day trips or who have made private hire bookings will be contacted once arrangements have been made with the administrators.”
Barkley Plastics
A 60-year-old Birmingham-based injection moulding specialist has appointed administrators to conduct a controlled closure of the company with 40 positions being made immediately redundant.
Barkley Plastics Ltd issued a statement acknowledging their rich history as part of the Midlands manufacturing sector. It said: “The company has faced very difficult trading conditions for many months and despite the best endeavours of the directors, the cashflow pressures were building.
“The directors explored every possible option to avoid closure having already gone through a period of restructuring a few years previously. Regrettably, a solution that would have preserved the trading status could not be achieved and the business will now go through a controlled closure under the protection of the administration order.”
There are still four months left in 2025 – which is still plenty of time for a business owner or director to find out what changes they can make to help strengthen or rebuild their business.
Get in touch with us today to chat with one of our advisors about what options you’ve got on the table – usually more than you realise!
The sooner you make contact, the sooner you can begin.