Peter Mandelson’s PR business closes & ATS Euromaster prepares to close its doors too.
With slightly warmer weather and definitely lighter mornings and evenings arriving, it actually feels like we’re into 2026 now – or that it’s finally begun.
Hopefully your business has been benefiting from the improved mood around and you’ve even had some time yourself to catch up on all the important and interesting business and insolvency news stories from the past seven days.
So if you want to know more about why SMEs are feeling the strain in particular these past few months; why a CIFAS marker could destroy your business if ignored; why the corporate insolvency figures for January rose (but not by much) and how to best protect the crown jewels (intellectual property) of your business – you can read all these stories and more right here at our advice centre.
Global Counsel
A lobbying company founded by disgraced former ambassador Peter Mandelson has gone into administration and ceased trading.
Global Counsel employed 130 staff and worked with clients such as Barclays, Phoenix Group and GSK.
Mr Mandelson was co-founder with Benjamin Wegg-Prosser and had no involvement in their work for several months prior to taking up his role in Washington DC in 2025. Wegg-Prosser also resigned after meeting with Jeffrey Epstein while under house arrest in New York.
A statement from the company confirmed that despite both co-founders leaving the firm, its leadership team concluded that their association and legacy made it impossible for the business to continue.
The statement continued: “After an exhaustive review of the options available to the company, the Board of Global Counsel has decided to ask the UK courts to appoint administrators to take control of and realise the assets of the company.
“To be clear, this will no longer be business as usual as the administrators-in-waiting have already indicated that, in the unlikely event that any ongoing servicing of clients is viable, this will be on a limited basis only.”
The business was founded in 2010 and lost several clients when correspondence was discovered proving that Epstein had helped the company source new business leads, advised on corporate strategy and consulted on a potential sale of the business while it was in its infancy.
Specialist Haulage Hire
A Glasgow-based road haulage firm has been placed into compulsory liquidation following a winding-up petition from HM Revenue and Customs (HMRC).
A liquidator has been appointed to oversee the orderly dissolution of Specialist Haulage Hire including assessing the firm’s remaining assets and liabilities to satisfy any outstanding creditors.
The company had no employees at the time of liquidation and while liquidation usually involves freezing accounts and halting all trade, this had already taken place.
FK Group
An Altrincham based contractor that had worked on the expansion of Manchester City’s Etihad stadium and the main stand at Liverpool’s Anfield has appointed administrators.
FK Group is a facades contractor and its subsidiaries FK Group and FK Facades will also be in administration. The firm was founded in 1979 and employs 164 people.
A statement issued by administrators said that they had been appointed after “significant inflationary pressures post-covid amongst other challenges had overwhelmed FK Group.”
As a result 57 staff had been made redundant while another 54 had been transferred under TUPE to Keenan Holdings, an aluminium and glazing manufacturer and installer based at the same address as FK Group.
The statement continued: “This is a significant restructuring of the Group’s assets and operations. The directors of the Group explored a number of avenues prior to this decision and established that this was the best route forward for all stakeholders, creditors and the future of the group.
“As part of this restructuring process, we will be focused on delivering the best outcome for all creditors. This will include realising the Group’s assets for the benefit of creditors.”
ATS Euromaster
700 positions are at risk after a nationwide car and van fast-fit business announced it was winding down its operations in the UK.
ATS Euromaster is beginning a structured wind-down after closing 86 of its most unprofitable centres in 2025 after failing to halt significant financial losses in a market experiencing over-capacity, rising costs and shifting consumer behaviour.
The company is proposing to sell 35 of its 152 garages to Formula One Autocentres and 14 garages to S&M tyres which trades as Elite Garages. If the sales go through then 216 employees across the 49 sites will transfer across to new owners under TUPE regulations.
The remaining 703 roles across the Aston head office, call centre and 103 garages will be at risk of redundancy and closure.
A spokesperson said: “Following these sales, it will no longer be viable for ATS Euromaster to operate as the reduced scale of the network would lack the geographic reach to compete effectively in the UK.”
Nick Harley, group managing director of Euromaster UK, said: “The announcement marks an extremely sad and difficult moment for everyone in the company. We recognise the impact this will have on our colleagues, their families and the communities ATS Euromaster serves, and it’s not a decision we have taken lightly.
“Despite the team’s massive efforts to reshape the business, improve financial performance and secure a sustainable future, a combination of intense market competition, sluggish activity within the sector and rising costs have left us with no viable path forward to a break-even position.”
Garages cited for potential closure will remain open throughout the period of consultation which will run until April 30th 2026. If proposals proceed, the final day of trading for all points of sale would be May 1st 206.
Market Financial Solutions
A 20-year-old specialist property finance provider has filed a Notice of Intention to appoint administrators.
Market Financial Solutions Limited have confirmed the move has been implemented to safeguard 200 jobs and the positions of investors and stakeholders whilst the firm addresses an “unforeseen banking-related matter”.
Paresh Raja, founder of Market Financial Solutions, said: “This is an extremely difficult moment for everyone connected with Market Financial Solutions.
“As a family founded business that has been built over nearly 20 years, this is not a decision that has been taken lightly.”
The firm acknowledged that whilst the core business remained asset-backed and operationally robust, the board determined that placing the company into administration represented: “the most responsible way to safeguard value and provide stability during this period and allow operations to continue under the supervision of the court.”
Mr Raja continued: “The current situation does not reflect a failure of the underlying business or the quality of our assets, but rather a technical and procedural impasse that has temporarily limited our access to everyday banking facilities.
“My priority is, and always has been, the people behind this business – our staff, investors and creditors. Entering administration allows the Company to be protected whilst we work openly and cooperatively with the Joint Administrators to find a way forward.”
Oasis Partnership
A Buckinghamshire mental health community support charity that has been operating for over 30 years is set to close.
The Oasis Partnership, which supports adults and young people, said its trustees had made the difficult decision to close that charity after careful consideration.
As well as their pastoral work, the charity offered a range of services focused on improved employability and skills, media, arts and culture.
They are working with administrators to facilitate an orderly wind-down of the charity.
A statement was posted on social media saying: “Our priority during this period is the welfare of the people who matter most – our staff, volunteers, clients and the wider community we have served.
“We’re committed to supporting staff and clients as responsibly and compassionately as possible during this transition and to working constructively with partners where appropriate.”
The partnership also ran a cafe in Aylesbury which another organisation had agreed to take over.
The Lunar New Year has begun and hopefully you’re able to harness the energy of the Fire Horse to power your business to great success in the rest of 2026.
But if you’re feeling like an also-ran, don’t worry – there’s still more than enough time to make this year a memorable one for all the right reasons.
Get in touch with us to arrange a free initial consultation at a convenient time for you.
Once you talk to one of our advisors about your plans and ambitions then they’ll be able to help you come up with a realistic plan to achieve it or let you know about other options you have that you might not have considered.
The sooner you contact us, the sooner we can begin to work together and make your plans a reality – sooner.