A famous football club goes into administration along with an airline and a major offshore energy supplier.
Halloween is here and we hope running your business isn’t giving you the fear this year!
If you want to take your mind off the scares – 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 more about the latest changes to business energy bills; why pre-pack administrations are so powerful; Why the new Covid Repayment Amnesty isn’t an amnesty at all and why directors looking to close a solvent business should do it before the budget – you can read all these stories and more at our advice centre page.
Sheffield Wednesday FC
One of the most famous names in English football has gone into administration.
Sheffield Wednesday FC have appointed administrators just before HMRC were expected to issue a winding-up petition against the club.
The 158-year-old club are currently bottom of the English Championship and received a 12 point deduction for going into insolvency during the season which puts them on -6, a full 14 points away from Norwich City, the team immediately above them.
Administrators now have to stabilise operations and secure new ownership capable of restoring solvency and credibility to a large but disillusioned fanbase that was in open revolt against the ownership of Thai businessman Dejphn Chansiri who had owned the club for a decade.
The administration is the culmination of years of persistent losses, regulatory sanctions and frustration as a series of late wage payments and EFL embargoes have led to transfer bans, reducing the size and quality of the squad.
The club’s cash flow was unsustainable with mounting tax arrears and a reliance on the owner’s personal funding to bridge recurrent deficits. HMRC were among the largest creditors as well as facing ongoing claims from former employees and suppliers as well as deferred wage obligations.
Administrators have received several offers for the club and will explore them more thoroughly in the coming days and weeks while allowing the club to continue to fulfill its fixtures.
Eastern Airways
A UK regional airline has suspended operations and filed a notice of intention to appoint administrators.
Eastern Airlines are headquartered in Humberside and run services from Aberdeen to Teesside and other airports in the UK, Ireland and Europe. The Civil Aviation Authority (CAA) confirmed the airliner has suspended operations and all of its flights have been cancelled as a result.
Launched in 1997, the airline faced financial challenges following the Covid pandemic due to falling passenger numbers. They currently have a fleet of 16 aircraft which are now parked at various airports until the situation is resolved.
A statement from administrators was released that said directors had been “actively seeking alternatives to rescue the company, however with a significant immediate funding requirement, administration and cessation of day-to-day operations “was unfortunately the only viable option.”
“This has been a very fast-moving situation but due to circumstances outside their control, and without a viable solution, the directors have had no choice but to cease day-to-day operations. Sadly, a majority of the 330 staff have had to be made redundant.”
Central Fife Sheds
A shed manufacturer in Fife has ceased trading after the local Trading Standards department received several complaints about Central Fife Sheds.
According to the Fife Council, several consumers have reported being left out of pocket after paying money in full to the company for goods which have not been supplied, following prolonged delays.
The business closed through voluntary liquidation on October 16th 2025.
Dawn Adamson, Trading Standards Service Manager, said: “Consumers put their trust in a business and are entitled to expect that they receive what they pay for.
“When a Limited company ceases trading in this manner, the financial impact on its customers who’ve paid their money in good faith is significant.
Joe Delucci’s
A major UK ice cream manufacturer and wholesaler has gone into liquidation.
Joe Delucci’s were based in the West Midlands and have been supplying luxury gelato since 2022. The business operated an ice cream parlour in the Westfield shopping centre in London with two additional sites in Brent Cross and Brighton being operated on a franchise basis.
13 staff across the Westfield and head office locations will be made redundant as a result.
The company’s financial difficulties can be traced back to 2023 when additional costs were incurred when relocating their head office as well as reduced sales as a result of a wet summer.
A statement from the business said: “The Westfield ice cream parlour shut in May due to being increasingly unsustainable with all staff being made redundant prior to liquidation. The wholesale and franchising operations were sold prior to liquidation.
“It’s deeply regrettable that Joe Delucci’s has been forced to cease trading due to a series of challenging circumstances. We will now seek to obtain maximum value for the company’s creditors.”
Petrofac
A major offshore energy services provider in Scotland has filed a notice of intention to appoint administrators to its holding company, leaving 2,000 positions in the balance while alternative restructuring options were being explored.
Petrofac was founded in Texas in 1981 and designs and builds oil, gas and renewables projects as well as providing engineering, project management and logistical services. They are based in Aberdeen with offices in London, Woking and Great Yarmouth.
They were once listed on the FTSE 100 index but their value had dropped in recent years due to a serious fraud investigation and a series of profit warnings.
The decision comes after Dutch power grid operator TenneT terminated a major offshore wind contract with them, further stressing their financial position.
Torbay Coast and Countryside Trust
A Devon conservation charity has announced it is going into liquidation due to insurmountable financial challenges.
Torbay Coast and Countryside Trust (TCCT) looks after 80% of Torbay’s landscapes including Berry Head National Nature Reserve, Cockington Country Park and more than 40 miles of coastal paths and bridleways.
They also manage the Occombe Farm attraction including its farm cafe which the trust said would have to close imminently.
Trustee chairwoman Barbara King said that financial pressures had proven too great to handle despite the charity’s best efforts.
She said: “For more than two decades, our team of staff and volunteers have poured their hearts into caring for the places that make Torbay so special. While this chapter closes, the legacy of care, connection and conservation that the trust leaves behind will remain part of Torbay’s landscape for generations to come.”
Torbay Council said the trust had been instrumental in conserving more than 1,700 acres of natural spaces and its closure will have a “wide-reaching impact on the community”.
Headway Norfolk
A brain injury charity in East Anglia has announced its closure due to significant and sustained financial pressures and a challenging fundraising environment.
Headway Norfolk and Waveney said it made the “difficult” decision after an extensive review of its operations and financial position and the roles of its 48 employees.
The charity operates day centres, outreach support and peer and carer support groups in Kings Lynn, Norwich, Dereham, Long Stratton and Great Yarmouth which are all expected to close at the end of November.
Claire Boothby-Barnbrook, chief executive of Headway Norfolk and Waveney, said the decision to close was not made lightly.
She said: “We’ve spent the last few months exploring all our options for sustaining our services, but ultimately we could not find a long-term viable solution to our financial difficulties.
“Our board of trustees understands the very real impact that this will have on the 195 individuals living with brain injuries that we currently support, as well as their families and carers. We’re working closely with Norfolk County Council and other partners to ensure support is provided at this difficult time and to help with identifying alternative services.”
Altitude Angels
An unmanned traffic management provider has gone into administration.
Altitude Angel was founded in 2014 to provide digital services for drone operators and airspace managers. Its products included the widely used Drone Assist safety and flight planning app, which allowed drone operators to view airspace hazards and restrictions as well as submit flight authorization requests.
The company received £5 million of funding from BT in 2023 to help it scale up and was the lead firm in Project Skyway – a government initiative to create a 165 mile commercial drone corridor in the UK but as the commercial drone market is still failing to grow significantly in the UK, they were unable to make the necessary headway. Project Skyway ended in January without a successor project.
The UK drone trade association ARAPS-UK said: “We are saddened and surprised to learn of the situation concerning Altitude Angel, which has been at the forefront of the drone industry for nearly a decade both in the UK and internationally.
“Thousands of drone operators and remote pilots have relied on the Drone Assist app as an essential tool for safe and compliant operations. We hope that the platform will be taken forward by another organisation to ensure continued service to the community.”
Bell Educational Services
An educational trust that operates three schools in Cambridge, London and St Albans for teaching English as a Foreign Language (EFL) has gone into administration due to financial difficulties and confirmed that all three schools will be closing.
A statement was issued on behalf of Bell Educational Services saying: “It is with deep regret that we announce Bell Educational Services has made the difficult decision to wind down its operations and will cease to trade shortly.
“Regrettably, the closure of the schools will also mean that staff members will face redundancy in the coming weeks. This is a deeply sad outcome for all involved.”
The school faced significant cashflow challenges and was unable to recover financially from the prolonged impact of the pandemic, nor could they secure a buyer for the business.
English UK are finding replacement courses for 125 students affected by the news under the student Emergency Support Scheme (SES) which obliges British Council accredited centres to offer places to those whose schools have closed suddenly.
Bell School was founded by Frank Bell in 1955 after having been inspired to start a language school after teaching languages in a prisoner of war camp.”
UniMetals Recycling
A major recycling and metals business has filed a second notice of intention (NOI) to appoint administrators as it continues to secure new funding.
Unimetals Recycling employs 650 people across 27 sites including its Stratford-Upon-Avon headquarters. This is two weeks after they lodged their first NOI which gives it a ten day moratorium against creditors actions while it looks to restructure and attract new investment.
Their difficulty stems from a £195 million acquisition of Sims Metal last year which still has a £55 million payment still outstanding. A key investor withdrew from the funding round that was close to completion, leaving them to urgently look for fresh capital.
A statement released from the business said: “The formal process Unimetals has been running this month to secure new investment has attracted a high level of interest from parties who recognise the strength of the business and its future potential.
“Unimetals has today filed a further notice of intention to appoint administrators to give the business additional time to reach a binding deal with potential financiers that secures investment and protects the long-term interest of employees, creditors, customers and suppliers.”
Fired Earth
A well-known home decor retailer has filed a notice to appoint administrators this week.
Fired Earth were founded in Oxfordshire in 1983 and specialise in tiles, rugs and floor coverings and have over 30 showrooms and stockists all over the country and employ 140 people.
The company also has deals with Marks & Spencer, Paint Direct and Portmeirion Pottery for various product ranges they supply.
Even though it’s Halloween there’s no need to be terrified about running out of time to restructure and rebuild your business this year!
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 to move forward to better times ahead.