What happened this week?

Welcome to the latest news round up of the most interesting and important business and insolvency news stories from the past week that you might have missed or skipped over. 

So if you want to know what important upcoming tax and employment law changes are coming in 2025; How to avoid sleepwalking into a directors’ disqualification this year; How your accountant can help you more in 2025 and what the year might hold for pubs, restaurants and nightclubs – you can read all these stories and more at our advice centre page.

Price and Fretwell

A family-owned butchers that supplied products to restaurants, food processors and the public across the East Midlands and South Yorkshire for over 30 years has gone into administration. 

Price and Fretwell began at a small village butchers shop in Blackwell but moved to a purpose built factory several years ago. 

Now “partially due to the ongoing knock-on effects of Covid-19” the business has ceased trading with the loss of 34 positions.

Prefix Systems

A major manufacturer of conservatory roofs which operates across multiple sites in the UK has appointed administrators. 

Prefix Systems was formed in 1996 in Blackburn and grew to open secondary sites in Northampton and Swansea to better serve a geographically growing and diverse customer base.

Until recently Prefix could claim to be the UK’s largest independent conservatory roof fabricator. 

Administrators are actively exploring options for a going concern sale of the business.

Oddies

A Lancashire bakery that had been trading for over 120 years with 13 locations across the country has closed after unsuccessfully searching for a new buyer to take the business and its staff on. 

Over 100 positions will be lost as a result of Oddie’s ceasing to trade. 

A statement from director Lara Oddie said: “Oddie’s is a fourth-generation family business, started in 1905 by William Henry Oddie. 

“Over the decades, it has withstood two world wars and their food scarcity, the Great Depression, the fall of Lancashire’s cotton industry, the rise of powerful supermarkets and the Covid-19 pandemic, which forced us to adapt our entire operating model.

“With an energy crisis quadrupling costs and footfall declining on the high streets, the Oddie family decided it was time to sell. Sadly, an 11th-hour withdrawal by the buyer has left us with no choice but to pursue closure.”

Connect Modular

An award-winning Scottish home builder has gone into administration. 

The Wee House Company has placed its brands Connect Modular and Hope South West into administration then liquidation, just months after Connect Modular won two awards for its affordable housing work in Kilmarnock with a double win at the CIH Scotland Housing Awards 2024. 

As a result 48 positions – 38 at Connect Modular and 10 from Hope South West – were made redundant. 

A statement from the directors said: “Both companies were both part of The Wee House Group, a leading provider of high quality, sustainable, affordable, modular homes to housing associations, local authorities and community trusts across the UK.

“The companies have suffered significant financial challenges in recent months due to rising operational costs and losses made on previous contracts, which has placed significant pressure on trading operations and cash flow. 

“Both companies have now ceased trading and unfortunately, all 48 employees have been made redundant.”

Home Curtains UK

A Nottinghamshire soft furnishings importer and retailer is entering administration. 

Home Curtains UK Ltd was founded in 1986 and offered a wide range of quality curtains, accessories, lace and custom-made voiles to customers across the UK and Europe. 

A statement from directors confirmed the appointment and said: “This decision has been incredibly difficult and not taken lightly, and like many businesses in the retail and home furnishings sector, we have been deeply affected by the rising costs of trade and reduction in our consumer discretionary spending. 

“We remain optimistic that a solution may be found to preserve elements of the business and its legacy.

“Home Curtains UK has faced significant challenges over recent months, including rising costs and an unfavourable economic environment. We’re working closely with the company’s management team to explore all available options to secure the best possible outcome for all stakeholders. 

“It’s our intention to trade the business over the next couple of months, undertaking substantial price reductions to maximise sales over our quality stock ranges.”

Multiwood Products

A North West kitchen manufacturer has gone into administration and ceased trading after being negatively impacted by challenging trading conditions. 

Multiwood Products Ltd had created bespoke kitchen doors and accessories for the public for over 30 years but difficult trading conditions which created cash flow challenges proved insurmountable. 

A statement from the directors said: “Multiwood Products has been a trusted supplier in the sector for three decades. 

“Unfortunately, due to the challenging trading conditions prevalent in the industry, most notably a downturn in demand, the business has been unable to meet its financial obligations and has therefore ceased operations.”

35 positions have been made redundant as a result. 

Hopefully you can begin this year strongly and continue at that pace but you can also make sure that you are fully exploring all the options available to you to make your business stronger. 

Get in touch with us to arrange a free initial consultation with an expert advisor. No matter what your goals are for 2025, they’ll be able to work with you to make sure you can head towards your goals confident that you can reach them.