Now we’ve finally reached Easter, hopefully you’ll get some much needed downtime to rest and recuperate and if you’re lucky – to enjoy some nice chocolate!
You can also use some of it to catch up with all the interesting business and insolvency news stories from the past seven days right here.
You can find out how the hospitality sector is facing up to its struggles, why directors and entrepreneurs should embrace the idea of business failure and what recent changes to Companies House powers could mean for your business – you can find these stories and more at our advice centre page.
Beattie Passive
A modular homes manufacturer in Norwich has halted production at its factory and filed a notice of intention to appoint administrators.
Beattie Passive is based at Carrow Works in the city in the former Britvic factory announcing their “deep regret” at the decision.
Rob Beattie, founder and managing director, said: “Having explored all strategic options, it is with deep regret that we have today filed a Notice of Intention to appoint administrators and paused operations.
“My family and I founded this business 15 years ago to deliver the types of high-quality, energy-efficient homes our country so desperately needs, while creating highly-skilled, green jobs within the local communities we operate.
“I want to express my sincere thanks to all of those who helped Beattie Passive become the pioneering company it is today and we will continue to explore all possible options as part of our strategic review.”
The business pre-manufactured modular homes and delivered them all over the country to their clients including several councils including Cardiff and Swansea.
Triple Two Coffee
A coffee shop franchise that began in Swindon’s Brunel Shopping Centre in 2016 has entered administration.
Triple Two Coffee has expanded to 11 franchises operating in Swindon, Cirencester, Reading and other nearby locations. The business was purchased by Cooks Coffee Company in 2020 who confirmed: “the company expects administrators to place our Triple Two coffee franchise business comprising Triple Two Holdings Limited and its subsidiaries into an insolvency process.
“Triple Two was growing rapidly before the Covid-19 pandemic and had shown continuing momentum in FY22. However in recent times, this momentum has not been able to be maintained and the business has been adversely impacted by the current marketing environment.”
SH Structures
A steel structure profiler whose creations included the famous Kelpies horse heads near Falkirk has gone into administration.
SH Structures also completed work on Hull’s Murdoch Bridge and the PoliNation’s public sculpture consisted of five giant architectural steel trees in Birmingham.
The business was set up in 1992 by now chairman Simon Holden and was seeking investment for some time but management ultimately failed to find a buyer for the firm despite a formidable reputation for delivering specialist bridges and complex steel structures.
A statement from the business said it had been particularly hard hit by the downturn following the Covid-19 pandemic, taking out a £500,000 government backed business interruption loan, repayable over five years.
It continued: “SH Structures is a very specialist business with a very skilled workforce, delivering at a high rate per tonne. The problem is that nobody is building highly complex architectural structures at present and this has put the business under extreme pressure.
“Due to losses on various contracts and a gap in production scheduling due to projects being delayed, the directors have appointed administrators to protect the company whilst options are explored and a buyer sought for the business.”
JDL Electrical
A York based mechanical, electrical and plumbing (MEP) contractor has stopped trading and appointed administrators.
JDL Electrical have confirmed that all 22 of their employees have been made redundant as a result.
A statement from the business said: “The business was adversely affected by the failure of its sister company, JDL Subcontracting Ltd.
“Both businesses have suffered a significant downturn in work, combined with a historic debt burden, which was built up to keep the companies trading during the Covid pandemic.”
Arc Energy
A 30-year-old engineering business based at Eastington near Stonehouse has ceased trading with immediate effect.
Arc Energy specialised in the supply of corrosion resistant cladding and the manufacture of specialist fabrications for the nuclear, oil and gas, renewable energy, petrochemical, defence, rail and water industries.
Managing Director Andrew Robinson said: “I am absolutely devastated to have to announce that Arc Energy has ceased to trade.
“We genuinely did all we could to keep it afloat, but the rising cost of materials, energy and labour, along with a changing marketplace has made this impossible. Thanks to everyone who supported us and there is now a group of 23 brilliant welders, welding engineers, project managers and more on the market for whom I would be delighted to give a glowing reference.”
Makers HQ
A Plymouth based fashion social enterprise which worked with top brands and helped local designers has ceased trading and gone into voluntary liquidation.
Makers HQ CIC was set up in 2018 in a building that once housed a Jaeger clothing factory.
Despite gaining a strong reputation and support from Plymouth City Council and Marks & Spencer, it was unable to continue.
The business was a joint venture between the Millfields Community Economic Development Trust and Arts University Plymouth. They made prototype outfits for hip brands and designers and even entire runs for some of the most in-demand streetwear firms in London but eventually became financially unsustainable.
Lewis Allison, Operations Director at the Millfields Trust and director of Makers HQ said: “Regrettably, Makers HQ has ceased trading and formally entered liquidation.
“This decision was not taken lightly and followed a thorough assessment of the challenges faced by Makers HQ.
“Despite our ongoing support and investment, the company encountered significant financial difficulties, leading to an unsustainable situation.
“The company’s financial statements indicate a consistent pattern of trading deficits, with revenue insufficient to cover operational costs.
“The loss of a key training partner in August 2023 further exacerbated existing financial challenges, leading to cash flow difficulties and by October they were struggling to generate sufficient revenue to meet its tax and payroll obligations.
“As liabilities began increasing at an accelerated rate, and with no prospect of being able to trade out of its difficulties, the decision was made to cease trading.”
Options Skills
A Birmingham based training provider has gone into administration and ceased trading with students left uninformed in advance.
Options Skills Ltd described itself as “one of the UK’s leading trades training providers” delivering accredited gas, electrical and plumbing courses. Their headquarters was based in Birmingham but had three other training centres based across the country.
A statement was posted on the groups website which said: “It is with regret that Option Skills Limited has ceased to trade, this has been caused by circumstances beyond the Director’s control.
“The Directors have engaged administrators who will be contacting students and creditors over the next few days as to the position.”
EAL is a specialist skills partner and awarding organisation for the manufacturing and engineering industries. The group confirmed the closure of Options Skills in a statement and urged students to get in touch.