What happened this week?
It’s a new month so welcome to the first March edition of our weekly round-up of the interesting and important business and insolvency news stories from the past seven days you might have missed.
So if you want to know the myths surrounding MVLs; how directors can make their MVL a swift success; how to protect your business from supply chain contagion and why bailiffs want the government to start treating debtors better, you can read all these stories and more at our advice centre page.
The Crusty Cob
A family-run artisan bakery chain in the South West has closed with immediate effect.
The Crusty Cob has been operated by the Tubbs family for 55 years and had nine locations across Devon and Somerset employing 102 staff.
A statement from the current directors of the company – Neil, Howard and Trudy Tubbs – said: “It is with a heavy heart that we share the news of the closing of our family business.
“After 55 years of operations our last trading day will be Tuesday March 4th. The current state of bakery manufacturing, a shrinking customer base in the high street, inflation, energy costs along with wage and National Insurance increases have all contributed to this decision.
“Moreover, our industry has been in a constant downturn, making it increasingly difficult to sustain our business.”
As well as having nine of its own stores, they supplied a number of other local stores with retail products as well as delivering wholesale items to many local catering establishments.
The directors assured that although the business had endured “massive heavy losses”, none of its suppliers are owed money.
Oakwood Theme Park
The largest theme park in Wales has announced its immediate closure after almost 40 years of trading.
Oakwood Theme Park in Pembrokeshire said that the decision was forced on them due to the declining number of visitors and other financial struggles.
The owners, Aspro Parks Group, issued a statement blaming “unrelenting economic challenges” for the closure citing cost increases from “ride parts to electricity costs, food and beverage inflation, increases in the National Living Wage and changes to national insurance thresholds”.
They continued: “In the entire history of Aspro, we have never closed any park or attraction. Our dedicated team of staff has strived to overcome numerous challenges to continue to bring joy to families and visitors across the region and country.
“Unfortunately, we could no longer see a sustainable way forward and will seek to improve our other parks using the assets and where possible team elsewhere.”
Pershore Motor Group
A Midlands automotive group with three locations has gone into administration and ceased trading with the loss of 28 positions.
The Pershore Motor Group, a trading standard of Prestige Trade Sales, was founded in Pershore near Kidderminster in 2013. They expanded to two additional locations in Hartlebury and Evesham.
Directors admitted that they were facing increasing creditor pressures over recent months and were unable to meet their financial obligations.
They said: “We looked to find a buyer for the business and assets as part of an accelerated sales process but regrettably in the short space of time available, this outcome was not possible.”
Price and Fretwell
A family-owned butchers that has been operating from South Yorkshire for 30 years has ceased trading and gone into administration.
Price and Fretwell supplied products to food establishments, food processors and the public from a small village shop until they moved into a purpose-built factory in Blackwell.
Directors said this was partially due to the “ongoing, knock-on effects of Covid-19” and confirmed that all 34 employees were made redundant as a result.
TEi Ltd
A specialist energy-sector contractor based in Yorkshire has filed a notice of intention to appoint administrators.
TEi Ltd are based in Wakefield with additional offices in Cardiff and Kent and specialise in design, engineering, installation and commissioning in the power generation and petrochemical industries.
The company currently employs over 215 employees across their three locations.
Mad Dog Casting
One of the UK’s leading film and television casting agencies is closing through voluntary liquidation.
Mad Dog Casting was based in Cardiff and had credits for providing supporting actors for films such as Dunkirk, Bridget Jones’ Diary, Pirates of the Caribbean and shows such as EastEnders, Casualty, Peaky Blinders and Dr Who.
The business also had satellite offices in London, Manchester and Glasgow with six permanent employees.
In October last year the performing arts and entertainment union Equity won a claim against Mad Dog on behalf of 39 artists who were owed money. They will join the creditors once the liquidation process formally begins.
They issued a statement saying: “Despite our efforts, Equity has learned that Mad Dog has started the process of winding up the business. This is a disappointing development as it means members owed earnings are unlikely to get their money.”
Walleys Quarry
A company operating a large quarry landfill site in Staffordshire has gone into liquidation weeks after a legal attempt to reopen the landfill failed.
Walleys Quarry Ltd (WQL) operated the Silverdale site near Newcastle-Under-Lyme.
The site had been shut since November 2024 when the Environment Agency issued a closure notice following years of problems with landfill gas smells affecting thousands of local residents. Under the closure notice WQL was barred from accepting new waste and had to cap the site.
An appeal failed earlier this year. A statement on behalf of the Environment Agency said: “We have been informed that Walleys Quarry Ltd has entered liquidation. This event has no effect on the existence of WQL or the Environmental Permit.
“The Liquidators remain bound by the conditions of the permit and any statutory notices in relation to it that may have been issued. We will engage with the liquidators about their intentions for the site and plans to comply with the Environmental Permit and the Closure Notice.”
Briscoe Construction
A Lancashire construction business founded in 1993 has gone into administration.
Briscoe Construction works primarily for water, utilities and highways clients in the North West as well as carrying out work within harbours, ports and coastal areas. They have also worked on projects for local regional councils and the National Trust.
The company employs 25 staff and was founded by Colin Briscoe, a well-known and respected name in the industry that received a lifetime achievement award from the Civil Engineering Contractors Association in 2021.
Asheville Aggregates
A materials supply, haulage and tipper hire specialist servicing construction sites across London and the South East has gone into administration.
Asheville Aggregates and its sister company Ashville Commercials Limited were appointed by the company’s owners Cynergy Business Finance.
The companies employed 45 staff and operated licences for a fleet of around 40 trucks and four trailers consisting of tippers, grab lorries and arctics.
The businesses were launched in 2016 with a headquarters based in West Drayton near to Heathrow Airport within easy reach of all clients.
Swiftcare UK Pre-Pack
An Oxfordshire based haulage company has been purchased in a pre-pack administration deal protecting 58 jobs.
White goods delivery company Swiftcare UK are based in Banbury and went into administration in February after undergoing “sizeable trading losses” following the loss of a large contract, the time taken to replace the work and delays in a new contract taking off.
Two directors of the business purchased it and its assets under a new company name Swift Go.
A statement said: “The directors were of the impression that the business was viable in its current form as a result of the cost cutting measures it had implemented over the previous 12 months and that without the burden of the historic liabilities, the business could survive.
“Following a structured marketing process and receipt of a positive independent evaluator’s report, a pre-packaged sale was successfully completed.
“As a result, the jobs of all 58 employees have been rescued, ensuring continuity of employment with the purchaser. We believe this outcome provides the best opportunity for the business and its staff moving forward, together with achieving the best possible outcome for the creditor of Swiftcare UK.”
We’re already into the third month of the year and if you feel like your business needs to make a leap forward in 2025 but it hasn’t really got going for yet – don’t worry.
There is plenty of time for your business to reach the heights you’d like but you’ll have more chances if you get in touch with us for a free initial consultation.
Once an advisor gets a clearer picture of your unique circumstances then they’ll be able to come up with a range of options for you depending on your goals but remember – the sooner you get in touch, the sooner you could start seeing the benefits.