No sooner is Autumn underway with Halloween decorations appearing all over than Christmas itself is beginning to hove into view with pubs and restaurants taking bookings ahead of what could be the busiest time of their year.
So whether that’s your peak time too or if you’re going to get busy around Halloween or Guy Fawkes night – you’ll still be able to get a couple of minutes to catch up on all the interesting and important business and insolvency news stories from the past seven days.
If you’re interested in finding out how seasonal business can take advantage of a CVA; how retailers are dealing with the downturn and why half of all the UK’s nightclubs have closed in the past decade – you can find out there and more!
Vale Brothers
The world’s largest manufacturer of horse grooming brushes, first established in 1786, has announced a notice of intention to appoint administrators.
Vale Brothers has been based in Walsall for 240 years but is seeking to enter administration putting 96 positions in doubt.
Over the past 20 years the business has grown by acquisition and has added leisure bags, whips, saddles, bridles and horse rugs to their offering through sister companies Jeffries Saddlery and Thermatex.
Foodmek Designs
A Fife food and drink equipment manufacturer has announced it is going into liquidation.
Foodmek has designed, manufactured and installed food processing equipment in the UK and in over 20 other countries since it was founded in 1971.
During the pandemic the company diversified into making vessels for Covid test kits.
Managing director Scot Kelly said the business had been affected by customers deferring projects during the ongoing economic downturn.
He said: “We manufacture capital equipment and have been very busy quoting for new contracts.
“Unfortunately decisions have been deferred or projects cancelled due to economic uncertainty caused by the war in Ukraine and spiralling energy costs. When cash is tight, companies pull back on capital expenditure.
He said the business had explored every option to continue trading and while they had been offered support from their bank and Scottish Enterprise, he felt they could no longer continue.
“We do not have the cash to trade through this downturn so this is a sad day for us.
UK DAB Networks
A DAB multiplex operator has started voluntary liquidation proceedings.
UK DAB Networks currently operates live services in Winchester and Basingstoke but has interest in a number of other similar suppliers.
Owner Ash Elford said it’s the first time an operator has had to wind-up due to financial difficulties.
He said: “On a personal level, I am gutted that it has come to this, having spent the last 8 years working hard on small-scale DAB.
“I am disappointed that I have not been able to make a success of Winchester and Basingstoke. Unfortunately, I just couldn’t make this business viable.”
Hamon UK
A Hull-based wet cooling specialist has ceased trading and gone into administration.
Hamon UK was founded in 1975 and specialised in wet cooling, a process used in power stations and energy production.
The company ran into cash flow problems when a new contract failed to materialise and additional financial support was not available. The business was unable to trade and 40 staff were made redundant as a result of the company ceasing trading with immediate effect.
Love Lane Brewery
A Liverpool brewery has entered administration for the second time in just over a year.
A statement from the Love Lane Brewery said: “Unfortunately the challenges for Love Lane Brewery Ltd have been too great and it is with a heavy heart that we announce that we have gone into administration.
“This situation is made more frustrating after a considerable investment in the company early in 2023. Sadly the business struggled to get back to the heights of pre-Covid sales.
“The business has made a significant impact and there are several conversations in play with potential purchasers and we would hope one of these will materialise quickly and for Love Lane products to get back on the shelves once more.”
The business points out that only the brewery is affected and the Love Lane Bar and Kitchen will remain unaffected.
Many regional hospitality businesses and microbreweries in particular have experienced difficult trading conditions in recent times. The pandemic and other economic challenges such as inflation, energy price rises and growing interest rates have also hit the sector particularly hard.
Calder Metal Spinning Company
A 76 year old West Yorkshire-based metalworks firm has filed notice to appoint administrators.
The Calder Metal Spinning Company employed 32 people and was involved in spinning all types of metals with manual and automatic lathes.
The company is described as one of the oldest metal spinning companies in the UK and served a variety of industries including aerospace, automotive, food processing and science.
One of the best ways to get your business ready and fighting fit for the last quarter of the year is to arrange a free consultation with one of our team of advisors whenever it’s most convenient.
They’ll be able to explain all the options available to you and your business and how they can be most efficiently and effectively implemented.
The sooner you get in touch, the sooner you can begin to make the important changes that could bring real and lasting results.