We are officially entering into September marking the end of summer and the beginning of Autumn.
But before you begin transitioning your wardrobe to suit the colder weather, make sure you catch up on all the important and interesting business and insolvency news stories happening every single week – including this one.
This week some of the main headlines included businesses entering administration to give them a new lease of life, while others chose to close efficiently through liquidation.
Televideo
Televideo, a Sheffield based outside broadcasting company, has called in administrators.
It becomes the second OB company to enter administration this summer, following Procam Take 2’s demise in July.
Televideo is one of the UK’s largest providers of outside broadcast facilities and had recently celebrated 47 years in the outside broadcast and production industry in 2023, with clients including the BBC, Sky Sports, Netflix, Channel 4, Channel 5, BT Sport, and Eurosport.
Red Cat Brewery
The Hampshire based brewery announced earlier this year that it had entered into administration.
However, the company has closed permanently, with its Companies House page now listing its status as “Liquidation”.
Red Cat Brewery, which is based at Sun Valley Retail Park Winchester, picked up much acclaim for its range of beers, winning several regional awards over the years including the 2015 Salisbury Winterfest.
Red Cat Brewing’s goodbye post on Facebook said: “Thank you and goodbye….
“Red Cat Brewing has entered administration, but I would really like to thank everyone that has been with us along the way, and I mean EVERYONE… customers, staff, friends, family and the awesome open day crew, you have all been amazing during the journey.
“However, like many others, unfortunately we didn’t make it.
“We have had some amazing times along the way, we have had some great laughs and made memories that will stay forever, not to mention making some great friends. We may have enjoyed a pint or two along the way.
“I really hope that everyone out there remembers Red Cat fondly, and I hope we made at least one beer that you enjoyed.
“Thank you ALL once again.”
DataQube Global Ltd
DataQube Global Ltd, a UK-based edge data centre has entered insolvency.
Creditors met to consider a decision on the nomination of liquidators, and potentially appoint a liquidation committee.
Representatives on behalf of DataQube declined to comment on why the company filed for insolvency, and what its future holds.
Babylon Health
Babylon health, which is the digital healthcare company behind the NHS’s GP at Hand app, has placed two of its divisions into administration as well as some of its business and assets sold to another firm.
The company’s GP at Hand service, which is funded by the NHS, became the first general practitioner in the UK to get a list of more than 100,000 patients in August 2021.
The business has appointed administrators for Babylon Group Holdings and one of its subsidiaries, Babylon Partners.The business and assets, including the GP at Hand app, have been sold to US digital healthcare company eMed Healthcare.
Administrators who are working with the Babylon Group said the sale “secured the future of the Babylon UK operations, which provides technology-driven preventative healthcare services, alongside other traditional healthcare activities, with over 700,000 patients having had access to Babylon’s platforms in the UK”.
They also added “The appointment of administrators over Babylon’s UK business to facilitate a sale to eMed ensures the least possible disruption for Babylon users, which should continue to operate as normal.”
Now that summer is over, we are rapidly approaching the end of the year. Now is a better time than ever to prepare for the remainder of Q3 & 4.
Depending on what your plans are, our advisors will look at where you are now and what choices you have available.
The most important step is the first one so make your appointment today and make hay while the sun is possibly shining!