A new season, new clock and a new financial year. 

It finally feels like we’re moving into a new phase of 2024 and it brings a new energy and sense of purpose. Hopefully you’ll be spending it in the right areas to improve your business and serve more customers but it has to be harnessed properly including adequate rest and recovery. 

Hopefully we can help you keep your mind engaged during these times by catching up on all the interesting business and insolvency news stories from the past seven days that you might have missed. 

You can find out what the new legal and financial changes coming into force this April will mean for your business; how the education sector is facing unprecedented financial challenges; what recent changes to Companies House powers could mean for directors and why a company voluntary arrangement (CVA) could be a fresh start for many companiesyou can find these stories and more at our advice centre page.

The Body Shop

The Body Shop went into administration in February when administrators took over the day to day running of the business. 

After taking this time to assess the state of the business and potential solutions, they have decided that the most viable way forward is through a company voluntary arrangement (CVA)

They have told creditors that if the arrangement is approved then the chain will continue to trade under the ownership of the Aurelius Group. 

Although the statement concludes that “in the event that a CVA cannot be agreed, the joint administrators will proceed with a sale of the business and assets”. 

The group is still trading at 98 stores, with the other 99 closing in February with the loss of over 750 positions.

Ted Baker

As part of their ongoing administration, Ted Baker’s administrators announced that they would be closing 11 stores in the next week with the loss of 120 positions. 

The stores including branches in Oxford, Leeds, Milton Keynes, Nottingham and at Liverpool One and the Birmingham Bullring were loss-making and deemed “to have no prospect of being returned to profitability, even with material rent reductions.”

Landlords of four additional stores at Bicester Village, Manchester’s Trafford Centre and at Brompton Road and Floral Street in London have also been served notice that their stores will close in the coming weeks with a further 100 posts being lost. 

A statement from the business said: “These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business as discussion continues with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.”

An additional 25 head office roles have also been made redundant as a result of “a necessary reduction in central costs.

Winnersh Film Studios

A film studio near Reading where part of the new “Ghostbusters” was filmed has gone into administration following cash flow problems linked to writers and actors’ work stoppages in the USA. 

Winnersh Film Studios and its parent company Stage 50 have confirmed the news in an announcement. 

The studios and group design and create purpose built sound stages and specialists creative and technical production space and sound services. 

A statement from Greg Branch, CIO at SCIO Capital who are the main funders said: “We remain fully committed to Stage 50’s model and vision of creating high-quality, innovative spaces for television and film makers. 

“Our priority is to stabilise the business and put in place a foundation upon which Winnersh Film Studios Ltd can move forward.”

He confirmed that the companies would continue to operate as normal while their financial position was assessed.

Surgo Construction

A North East construction firm that has traded for more than a century has ceased trading with the loss of 46 positions after failing to overcome financial difficulties. 

Surgo Construction specialised in both new build and renovation projects for public and private sector clients and was responsible for several high profile North East projects including redevelopment work at Newcastle’s Theatre Royal and Hatton Gallery and the RIBA officers in the city as well as NETPark in Sedgefield and The Palace Hub space in Redcar. 

Trading as Bowey Construction Ltd for more than 100 years, they rebranded as Surgo in 2024. The company had struggled during the pandemic but returned to profit in 2022.

The business issued a statement saying: “Despite the best efforts of the directors and support from the wider group, Surgo Construction has faced a number of challenges with projects in recent months that have been exacerbated by the headwinds facing the wider construction sector. This has left the directors with no choice but to place the company into administration.” 

Bowie Construction

A Cambridgeshire groundworks contractor has filed a notice to appoint an administrator. 

Bowie Construction was most recently working on two housing sites for West Norfolk Council at a project in King’s Lynn. It currently employs 60 workers. 

The business was founded in 2009 and specialised in groundworks, drainage and fencing. 


A restaurant firm has adopted a restructuring plan that will see it close 20 loss-making branches. 

Wildwood runs the Tasty and Dim T restaurants which would shut after a challenging start to the year. The firm currently operates 43 Tasty restaurants, six Dim-T pan-Asian restaurants along with two non-trading sites and three sub-let venues. 

A statement released by the hospitality group said its financial performance “continues to be inhibited by a tail of underperforming sites, despite efforts at improving operational performance. 

“The use of a restructuring plan is considered the most effective means to reorganise the group to return it to profitability and secure its long-term future which should change the financial viability, profitability profile and long-term prospects of the group.”

The group said it expects to operate around 30 restaurants by the end of the current year. Creditors are considering the plans and the firm hopes they will be ratified by a court at the end of the month.

Supper London

A premium food delivery platform has announced it has gone into liquidation. 

Super London has officially ceased all operations and been dissolved with the loss of 30 positions. 

The decision followed a tumultuous period for the business which spent the whole of 2023 in administration despite a significant increase in turnover during the Covid-19 pandemic.

First formed in 2014, it operated a fleet of custom-made, stabilised delivery vehicles aimed at delivering hot food quickly. 

The PR Office

A notable London PR company with 14 employees is going into liquidation following a decision by the founder to close and open a new venture. 

Founder Shimon Cohen launched The PR Office in 2004 offering media relations, public affairs, crisis and issue management advice to businesses. 

In a statement, Mr Cohen said: “The bottom line is, 20 years ago I set up a company because I didn’t want to be bothered with admin and employment contracts and all the headaches of running a business, and 20 years later I’m doing it again.

“The company was getting too big and it’s not what I want to do. I want to be a client man, that’s all. The way to do it is to change things, so I’ve changed things. I’m 63 now and I just don’t want to run a company. 

“I’ve decided that the way to do this is to put the business into liquidation and set up a new operation. I’m sorry that it’s painful for a lot of people but at some point one has to do what’s right for oneself.”

Once the process is completed, Mr Cohen will open a new business called Roath PR. He said; “I would very much hope that in the new slimline structure, that does not have lots and lots of employees, that does not have lots of small clients that are not profitable but has the types of clients that I like to work with.”

The downside of blogs that go on about new seasons and new beginnings is that it might not be happening for you or your business right now. 

But the beauty is that the turnaround could come at any time – literally any time. Especially if you’re making choices that can bring it about. 

One way would be to take advantage of the free initial consultation we offer any business owner or director who wants to see how they can change their path in 2024

Get in touch with us today to arrange yours and you might be surprised about the range of options available to you to help kick start your year and make 2024 one to remember.