Joint Administration of Silverjet Plc This last surviving business class-only transatlantic airline was placed into administration. A sale of the business as a whole was agreed to Kingplace Limited, however, due to unusually complex negotiations between Kingplace and third parties, the sale was not able to complete. As a result we had to make the workforce redundant, despite working hard to prevent this. We continue to negotiate the sale of Silverjet’s assets for the benefit of the company’s creditors.
23rd October 2017 The British Chambers of Commerce (BCC) has called on the government to freeze business rates in order to provide a boost to the competitiveness and productivity of UK companies.
12th October 2017 The impact of Brexit and the process of Britain departing from the European Union is likely to push up rates of insolvency among businesses throughout the UK.
11th October 2017 Financial losses and persistent problems with cash flows has led the civil engineering business Owen Pugh to enter administration.
2nd October 2017 Monarch Airlines has become insolvent and ceased trading as a result of “mounting cost pressures and increasingly competitive market conditions,” administrators have confirmed.
29th September 2017 The Bank of England governor Mark Carney has given a clear indication that he expects the base rate of interest in the UK to rise in the near future.
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