What stories did you miss this week? Don’t worry – they’re all here!
The decorations and lights are up and Mariah should be blasting out of every open window and doorway on the High Street about now.
Hopefully you’re getting into the swing of the busiest period of the year and seeing the results but if it hasn’t kicked in just yet – don’t worry. Like a certain seasonal gentleman – it’s on its way!
If you do have a quiet moment to yourself then it’s all the better to catch up on all the important and interesting news stories you might have missed this week.
So if you want to know why 2025 could have more twists in store for Capital Gains Tax; the most important facts to consider when weighing up a Members’ Voluntary Liquidation (MVL) and if the festive period will give the hospitality industry the strong finish to 2024 it needs – you can read all these stories and more at our advice centre page.
Relate
Britain’s biggest relationship counselling charity has gone into administration,
Relate has seen a collapse in funding from NHS, school and local authority contracts with hundreds having their counselling sessions cancelled after 80 staff, approximately a third, were made redundant with immediate effect.
Relate offers a range of services including couples and relationships counselling, family counselling, mediation, child therapy and sex therapy.
Around one third of its counselling was funded by public sector contracts with the remaining sessions charging means-tested fees.
A statement released by the charity said: “The financial climate and the loss of government contracts has impacted Relate Ltd’s ability to sustain that service. We’re currently exploring various restructuring options that might be available to the charity in consultation with the local network of centres.
“Relate’s central support organisation has fallen into financial difficulty following the loss of government contracts. It will continue to trade while options for restructuring are considered.
“Relate operates on a federation basis and the activities of the 26 independent centres that make up the Relate Federation are not affected. They continue to deliver their relationship counselling and other services as normal.”
Relate was founded in 1938 as the Marriage Guidance Council. It became Relate in 1988 and a year later Diana, Princess of Wales, became its patron.
Financial pressure has been building for some time with a third of federated centres merged into the central charity in 2017.
Atom Beers
A craft brewery in Hull celebrating its tenth anniversary has been purchased out of administration by new investors in a pre-pack deal.
Atom Beers has been operating for a decade in the city before it encountered financial difficulties and entered administration to take advantage of the financial and legal protection offered.
The new owner is Rob Brocklesby who owns a waste to energy company in the city and an animal feed specialist. The founders will continue to own and run a tap room in the Corn Exchange in the city.
A statement from Mr Brocklesby said: “In a very challenging market, Atom has always strived to make the best beers possible and has significant recognition across the industry and is a recognised Hull brand.
“The beers are excellent and with this investment there is a bright future ahead.”
JG Windows
A Newcastle music store that has been operating in the city since 1908 has closed and gone into liquidation two years after moving to the Central Arcade.
The store has been up for sale since 2023 and had already retrenched in recent years with sister stores in the Metro Centre and in Darlington closing in 2022 and 2018 respectively.
Alex Cole, General Manger said: “JG Windows has been a cornerstone of the region’s musical and retail heritage for over 115 years and generations of musicians and music lovers including my family and myself, have bought their first instrument, listened to their first LP or learnt their first song within the iconic Central Arcade store.
“The retail environment, and particularly the music sector, has changed so much over recent years. Despite our best efforts to transform and adapt through streamlined operations, the introduction of the Windows Music Academy and the launch of a new online offering, we’ve been unable to compete against the falling margins, rising costs and the general shift within the UK to online shopping, streaming and downloads.
“We’d like to thank the thousands of customers who’ve given us their support over the years and to whom the store means so much. It has genuinely been an honour and a privilege to be part of the JG Windows journey – the city will be a quieter place without it.”
A statement issued on behalf of the business said: “While other shops have come and gone, JG Windows has always remained and flourished, becoming one of the UK’s oldest and most respected music stores with an unrivalled reputation for their fantastic range of instruments and musical expertise.
“Its closure is incredibly sad and bears no reflection on the firm’s directors who have ceaselessly gone above and beyond to try and drive the business forward. Competing in the current market had become impossible for them and they had no viable choices but to cease trading.”
Ravensby Glass
A Dundee based glass manufacturing company has announced it is looking at closure as they report “unsustainable losses” with “no prospect” of returning to profitability.
Ravensby Glass have begun a redundancy process with directors confirming that they would close sooner if they didn’t cut the number of employees.
The business was formed in 1985 installing high specification insulated glass units in public, residential, commercial and historic settings.
A statement was issued on behalf of the board saying: “For some time the company has been experiencing a serious situation with very substantial financial losses having been incurred over recent months and during the immediate past two financial years.
“We’ve not been able to recoup historic profit from our customer base that we have lost and energy costs are remaining high.
“Our markets are not showing the improvements we had hoped for and with not attaining full production coupled to some quality issues continuing, this puts us in an extremely difficult position.
“Therefrore if the parent company is not able to avoid the need for redundancies, our proposal is to cease trading and wind up the affairs of the company during the course of the coming months.”
Second Home
A London co-working company founded by the policy advisor to Lord Cameron has filed a notice to appoint administrators.
Second Home was founded in 2014 and became known for its colourful aesthetics and abundant pot plants as well as being a popular meeting spot for founders and investors in London’s then-nascent startup scene.
They grew to four sites in London and two more in Lisbon and Los Angeles but had struggled with overrunning costs before the Covid-19 pandemic turned the office environment on its head.
Three sites, Los Angeles and two in London, have disappeared from their website this year while the Insolvency Service issued them with a winding up petition in August although this was later withdrawn.
Iberica Food & Culture Ltd
A Spanish tapas restaurant business led by a Michelin-starred chef has filed a notice of intention to appoint administrators.
Iberica was first established in London in 2009 by Nacho Manzano with a vision to bring genuine Spanish cuisine to a UK audience.
The company currently operates four restaurants in London and one in Leeds. They closed two additional venues in Glasgow and Manchester in 2020 as part of an earlier Company Voluntary Arrangement process.
Ever Readymix
The largest independent supplier of concrete and screed across Yorkshire, Nottinghamshire and Lincolnshire has filed a notice of intention to appoint administrators.
Ever Readymix Concrete & Screed was established over 30 years ago and operates three separate depots located in Sandtoft, Scunthorpe and Immingham.
The business employs 30 staff and runs a fleet of 20 trucks including powder tankers that can carry eight cubic meters of product.
Elev8 Access Platforms
A Sheffield-based rental company providing extendable high-level access platforms has gone into administration.
Elev8 was formed in 2006 and provided truck mounted lifts and articulated cranes.
The directors of Elev8 provided a statement saying: “It has been a very difficult few weeks for Elev8 Group Services (Elev8 Access Platforms) with the company now placed into administration.
The company employs 80 staff including operators, mechanics and maintenance managers plus financial and administrative staff.
With the end of the year in sight, you might not believe it but there is still time to act and begin 2025 on the strongest footing.
Get in touch with us to arrange a free initial consultation and depending what your goals are for your business, you can begin to work towards them straight away.