MOORFIELDS APPOINTED ADMINISTRATORS OVER 85,000 SQFT SERVICED OFFICE PORTFOLIO IN ABERDEEN
Property Specialist Arron Kendall of Moorfields Advisory has been appointed Joint Administrator of Waterloo Quay Properties Limited.
Read moreMoorfields assists Manor Hotel Dorset
Acting on behalf of Joint LPA Receivers Simon Thomas and Fred Satow from Moorfields Corporate Recovery LLP, Christie and Co is marketing the freehold interest of the Manor Hotel near Dorchester, Dorset, with offers in the region of £1.3m sought. Located near the West Dorset coast the 13-room hotel comprises a 65-cover restaurant, a 40-cover cellar bar, 15-cover conservatory, 14-cover main lounge, and nine-cover snug. Dating back to the 16th Century, the property, occupies an elevated position in the village of West Bexington, with direct access to the beach. Ed Bellfield, director at Christie and Co, said: “This a superb opportunity to acquire a long-established and formerly privately-owned business, which has attracted a robust revenue stream from leisure and weekend tourists. Set in a renowned and unique seaside location, we expect the Manor Hotel to generate a high-level of interest Moorfields Corporate Recovery LLP is a leading provider of Corporate Advisory, Restructuring and Recovery services. Our highly skilled teams provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.
Read moreMoorfields appointed as joint administrators to garage door manufacturing business
"Simon Thomas and Fred Satow at Moorfields Corporate Recovery LLP were appointed joint administrators to BRP Group Limited on 25 March 2010 at the request of the directors. BRP Group Limited is a leading manufacturer of garage doors for the house building industry. It has operations in Bowburn, County Durham, Scunthorpe, Daventry, Brackley, Northamptonshire, Milton Keynes and Verwood, Dorset. The company has some 360 employees spread across the country. BRP Group Limited purchased the business from the Cardale Group in August 2009 and since then Nick Sibley, its principal shareholder has invested more than £3m to develop the business. Unfortunately the company has been unable to achieve sufficient sales in the current economy. Simon Thomas said "" BRP Group is one of the leading garage door manufacturers in the UK with a modern, computer - controlled production facility in Bowburn. We have already received a number of expressions of interest from likely buyers and are hopeful of achieving a speedy going concern sale. Please could interested parties contact us as soon as possible. Whilst we have regretably has to make a number of redundancies on our appointment, we are hopeful of achieving a going concern sale and preserving the remaining jobs. It is possible that any purchaser of the business may wish to re-employ staff we have had to release in the short-term"" Please contact Simon Thomas or Fred Satow on 0208 528 1090 Moorfields Corporate Recovery LLP is one of the UK's leading independent firms of restructuring and insolvency specialists. Its clients range from small businesses and SME's to major multinationals."
Read moreCloud 9 Group rescued by Moorfields Corporate Recovery
Telecommunication operators Cloud 9 have been under financial pressure since October 2009 when their shareholder withdrew funding. This resulted in the holding company, Cloud 9 Mobile Communications Ltd, entering into administration on 17 December 2009, with Simon Thomas & Fred Satow of Moorfields CR appointed as Joint Administrators. It has been an up hill struggle since then to preserve the businesses of the remaining group subsidiaries including Wire 9 Telecom Ltd, Cloud 9 Mobile Communication (Wholesale Services) Ltd and Cloud 9 (Gibraltar) Ltd. A number of parties expressed interest, however due, to large supplier arrears, it was proving extremely difficult to complete a sale. On 19 February 2010, Moorfields CR completed a sale of the business and assets of Wire 9 and Wholesale Services ,through insolvency procedures, to an unconnected party. This sale may save a number of jobs and will provides customers with a secure business going forward. Cloud 9 Gibraltar remains the only subsidiary to be realised. The company holds licences to provide 3G and GSM services, on 36 radio frequencies, in Gibraltar. It has £423k placed in escrow, in respect of purpose built radio infrastructure equipment, which is awaiting delivery and installation at antennae sites. To date, the company has had £1.3 million worth of investments in respeact of research and development costs, and has business and marketing plans in place, ready for roll-out of services by October 2010. A sales teaser is available with further information to be provided following completion of a non-disclosure agreement. The deadline for offers is Friday 5th March 2010 Please contact Arron Kendall on 0208 528 1715 or akendall@moorfieldscr.com for more information.
Read moreMoorfields appointed administrators at Jack Holt Ltd
The Holt company – originally set up by Jack Holt and Beecher Moore in 1945 - has gone into administration. From making Merlin Rockets and Cadets, the pair branched out into producing fittings with Glen and Tony Allen, forming Holt-Allen in the 1950s. The company reigned supreme in dinghy fittings for many years, but a recent move by Beecher Moore’s son, Chadwick, to manufacture fittings in Brazil sparked a split with the Allen family. While the Allen side has benefited and moved on, the Holt side seems to have faltered. The company entered into administration on February 23, 2010, with Simon Thomas and Fred Satow of Moorfields Corporate Recovery LLP appointed as Joint Administrators. ‘The company’s having cashflow problems,’ said a Moorfield’s spokesman. ‘Essentially we’ve put it into administration and we’re trading it on a normal basis, so all customers are receiving goods as per normal and we’re looking to find a purchaser in the next four or five days to turn it around quickly.’ Any enquiries in relation to the business should be directed to Arron Kendall or Matthew Parr of Moorfields on 0208 528 1090 Moorfields Corporate Recovery LLP is a leading provider of Corporate Advisory, Restructuring and Recovery services. Our highly skilled teams provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.
Read moreRSM Bently Jennison & Co LLP are proud to announce the official launch of its rebrand to Moorfields Corporate Recovery LLP
The London based firm of Corporate Recovery specialists have unveiled a new brand identity in support of their growth strategy. With the re-brand initiatives Moorfields expects to reinforce their confident, market leading position and their consistently flexible attitude to the ever-changing economy. The re-brand includes an exciting new office, logo and website which will allow Moorfields to break away from heritage brand RSM Bentley Jennison to establish itself in the market. The exciting new chapter reflects the companies commitment to delivering specialist professional services and pro-active solutions in restructuring, turnaround and insolvency. The new logo and website incorporates strong visual style, with red and black blocks depicting changes in financial fortunes, the use of imagery was chosen to reflect the fast pace and ever changing economy. The website aims to guide individuals, lenders, creditors and professionals through the corporate advisory, recovery and restructuring services available. Moorfields believes that the re-brand will help them become a substantial force in the market place. Earlier this year the firm were appointed administrators over the Cardale Group Limited(the U.K.’s largest Garage Door Manufacturer) where they successfully sold the company saving over 400 jobs. Other recent assignments include Moorgate Taverns and Torbay Hotels. Phil Smith, Partner said: We recognized the importance of establishing ourselves independently in the market and were keen that our image reflected our attitude and culture. Our focus remains on individual quality solutions for businesses whilst challenging the markets traditional firms approach to recovery. The new brand is a major step forward for us in supporting our growth strategy and achieving our goals of becoming a leading national firm. Simon Thomas, Partner said: This is an exciting time for us and our clients and will improve our presence in the marketplace. Our highly skilled team provide high quality advice based on experience and proven success. Moorfields Corporate Recovery LLP is a leading provider of Corporate Advisory, Restructuring and Recovery services. Our highly skilled teams provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.
Read more