While we’re firmly into the summer trading period now, maybe the holiday season hasn’t quite kicked in for you and your staff yet. 

So if things aren’t quite quieting down, you probably won’t have time to spend as long searching for the interesting and important business and insolvency news stories from the previous seven days. 

But if you want to know more about why so many sports teams are facing insolvency, why food producers are finding themselves facing more difficulties and what you should do if your business receives a winding up petition (WUP) then you can read them all on our blog too! 


One of the UK’s biggest parcel delivery firms – Tuffnells Parcels Express – has gone into administration after filing a notice of intent to appoint last week.

The Sheffield based business was founded in 1914 with a single horse and cart and has grown to having 33 depots and employing 2,200 drivers and logistics staff. Of these, only 128 posts are being immediately retained with the rest being made redundant. 

The business was bought by a management buy out team in 2020 before a further restructure in 2021. 

In March executive chairman Michael Holt issued a statement to Motor Transport outlining the issues facing the “Big Green Parcel Machine” which they were known as. 

“Margins are being squeezed. You’re doing really well if you’re getting 4% to 5% margin. Cost of labour has gone up, and the cost of recruitment and the cost of gas and electricity at the sites. It’s a huge electric and heating bill.

“This year we will live or die by the amount of new business that we generate. Last year there was a record number of insolvencies and they’re predicting a record number again this year. You’ve got to pedal harder and faster to bring in new business. Take your eye off that for a minute and you go backwards.”

A formal statement was released from the business which said: “Unfortunately, the highly competitive nature of the UK parcel delivery market, coupled with significant inflation across the company’s fixed cost base in recent times, has resulted in the company experiencing intense pressure on cash flow.

“Regrettably, with deliveries suspended and with no prospect of them resuming in the immediate term, we have had to make the majority of staff redundant. Our utmost priority will be to provide all those impacted with every support they need in making claims to the Redundancy Payments Office and minimising disruption to customers.”

Red Cat Brewery

An award-winning Winchester based Red Cat Brewery has gone into administration. 

Formed in 2014, their champion porter won a national award from CAMRA – the Campaign for Real Ale. 

A statement from the founders said: “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 – and 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. We didn’t do boring.”

ABC Imaging

One of London’s best known mutl-service printing businesses is going into a creditors voluntary liquidation (CVL). 

Mediashore Ltd trading as ABC Imaging offered a range of services from small format digital to retail graphics, pop up shops, corporate graphics, signage, construction, advertising hoardings and digital storefronts. 

Trade had been much reduced with Covid-19 causing significant disruption to the business. 

Henry Construction

A major house builder has announced that they have gone into administration this week. 

Henry Construction were also working on a major redevelopment project in Southampton called the Bargate Quarter. Developers have confirmed the project is moving ahead but are looking for a replacement contractor.

Specialising in tower-based residential developments, the effects could be felt throughout the industry as they tended to use smaller, local subcontractors rather than larger and better capitalised companies. 

First formed in 1976 by William Henry, the business grew to incorporate design too before the decision was made with all staff being made redundant as a result. 

Meatless Farm

Plant based food manufacturer Meatless Farm has gone into administration with all positions made redundant immediately. 

The Leeds-based company was looking for additional investment but was unable to secure additional funds. The website has been taken offline and no products are available in supermarkets and at foodservice partners. 

Despite successful funding rounds in the previous few years, there has been a softening in demand in the plant based food sector coupled with soaring costs of ingredients, energy, labour and packaging. 

Founder Morten Toft said that in May a large investor had withdrawn from a commitment to inject a large amount of cash into the business. He said: “This caught the board and management team by surprise because our cash runway was timed to this anticipated incoming investment.”

Norman & Underwood

One of the oldest family owned companies in the East Midlands has announced an intention to appoint administrators through prestigious legal firm Freeths

Norman & Underwood, a glazing, metal roofing and cladding specialist first founded in Leicester in 1825, published the notice this week. 

The business has worked on some of the most recogniseable buildings in the UK including Westminster Abbey, St Paul’s Cathedral, Hampton Court Palace and Chatsworth House. They have also done work on the British Embassy in Moscow and the Dome of the Rock in Jordan.

The business currently employs 33 staff at their headquarters. 

G Works Construction

A Somerset based civil engineering and groundwork specialist has announced that it is going into administration. 

G Works Construction has confirmed that 150 staff have been made redundant as a result. 

The firm specialised in commercial and large residential developments working with many major contractors including Balfour Beatty and Kier. The firm’s most recent project was working on one of the largest speculatively built warehouses in the UK at Avonmouth. 

Whether the summer months of June, July and August are a quieter time for your company or the busiest 12 weeks of the year that will make or break it for you – it’s also the perfect time to start planning what the rest of the year will look like for your business. 

You can begin by arranging a free consultation with one of our team of expert advisors at a convenient time.

Depending on your short and medium term goals, they will look at where you are and go through the options you have to achieve them. 

The earlier you get in touch, the more choices you will usually have to make a positive change in your company’s fortunes.

The first step is down to you, then we can work with you the rest of the way.