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"We have involved the CAPA team on both the Jessops and Phones4U administrations where they have brought to bear their skills and experience to generate significant additional recoveries for the stakeholders, a great result in both cases."
"I was interested in CAPA's point of difference, in that it works for tenants only. In completing 390 landlord negotiations I would say that CAPA's performance has been excellent, with very good results achieved."
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Administrators of the UK’s largest nightclub operator have appointed CAPA to audit the group’s sites, after more than 1,000 jobs were saved at the business in a last-minute rescue deal.
Partners from the business restructuring practice of BDO appointed CAPA after securing a deal to rescue The Deltic Group, which had been struggling during the pandemic, by selling it out of administration. The group was sold to REKOM Group, the largest nightclub and bar group in the nordics, in a transaction that saved over 1,300 jobs across Deltic.
During the pandemic, The Deltic Group had not been able to generate revenue while rent and tax debts had built up. The company had been looking for investment as working capital began to run out, and ultimately Ryan Grant and Lee Causer of BDO were appointed administrators in December.
The administrators who rescued the operator of Burger King outlets around the country have appointed CAPA to conduct rates audits on the sites it traded from.
Moore Kingston Smith, the business advisory firm, called in CAPA after saving the catering firm Powerbanks in 2020 by selling it out of administration to Karali Leisure, another restaurant franchise operator.
Powerbanks had been enduring financial problems before the pandemic, due to costs related to an acquisition and changes in the behaviour of consumers - who began to choose healthier eating options.
CAPA has been instructed to conduct audits on sites occupied by one of the UK’s largest timeshare operators, after prolonged lockdowns and travel restrictions hit the firm’s finances.
As administrators of Club La Costa UK, BDO has appointed CAPA to undertake rates audits, as the business restructuring firm tries to maximise recoveries for the creditors.
Club La Costa sold timeshares and managed timeshare resorts in Spain, the UK, Austria, Turkey and the USA.
Before the pandemic had enforced the closure of resorts and the cessation of sales activity on timeshares, Club La Costa had already encountered financial problems relating to a case in the Spanish courts relating to timeshares and how they were sold. This led to a legal dispute with customers and claims that were led on behalf of consumers by claims management firms.
CAPA will be the main sponsor of this year’s R3 Annual Conference.
R3 Annual Conference 2021 will be a virtual conference held from 17-20 May. This Annual Conference will really be one to remember as for the first time in R3’s history this will be a dual President Annual Conference with Colin Haig (2020-21 R3 Presidency) and Christina Fitzgerald (2021-22 R3 Presidency) both chairing the conference.
More information on the conference can be found on R3’s website.
CAPA is delighted to be sponsoring the Turnaround, Restructuring & Insolvency (TRI) Awards for the 13th consecutive year, organised by Shard Financial Media.
The TRI Awards has championed the firms, teams and individuals who are beacons of best practice in the field of business turnaround, corporate restructuring, corporate insolvency and the funding of business recovery. The independent awards panel comprises restructuring professionals from the UK’s largest banks, turnaround practitioners, insolvency practitioners, funders, regulators and the country’s foremost legal experts.