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The administrators of the UK’s largest vegetable processing business have instructed CAPA to carry out audits on the company’s vast sites – after it became the most recent firm to succumb to the effects of high inflation.
Interpath Advisory, the corporate restructuring and business rescue experts, appointed CAPA after managing the administration of Yorkshire-based Troy Foods and securing a sale of parts of the business – a move that saved 104 jobs in the run up to Christmas.
Having traded for more than 20 years, Troy Foods had employed nearly 200 staff who worked in large leasehold sites in Leeds and Yorkshire, preparing groceries for distribution around the UK.
The administrators of a bus company that operated as a social enterprise have appointed CAPA to conduct audits on all sites it traded from.
BDO has appointed CAPA to undertake rates audits on HCT Group, which had provided transport and community services around the UK for more than 40 years, but fell into insolvency in 2022 due to a combination of economic factors and changing passenger behaviour.
The company had suffered a number of financial and operational challenges over an extended period.
These included reduced passenger numbers due to the pandemic, as well as operational and financial pressures as a result of a high demand for bus drivers and wage inflation, particularly in London, and rising fuel costs.
The administrators of Johnsons Shoes, a retailer that has traded for more than 50 years, have instructed CAPA to carry out audits on various stores operated by the business.
Begbies Traynor has appointed CAPA during the administration process, which was extended for a year as the corporate insolvency and restructuring firm explores further ways to boost returns to creditors.
Incorporated in 1970, Johnsons was a family-owned business that traded profitably for decades, offering shoes and accessories through brands such as Timberland, Hotter, Barbour and Ugg.
CAPA will be the main sponsor of 2023's R3 Annual Conference.
R3 Annual Conference 2023 will be held on 10th -12th May at Hilton Molino Stucky in Venice, Italy.
More information on the conference can be found on R3 Website
CAPA is continuing to champion the outstanding achievements of corporate rescue professionals, by signing up as headline sponsor of the Turnaround, Restructuring and Insolvency (TRI) Awards for 2022.
CAPA is supporting the profession’s most prestigious awards programme, which celebrates the exceptional work and outcomes in the process of rescuing struggling businesses and saving jobs, as the economy recovers from the pandemic.
For 2022, as the awards programme reaches its 15th year, the TRI Awards will return as an in-person event, due to be held at the Hilton London Bankside on 8th December, capping a year in which business advisory firms have secured the futures for many businesses that have endured testing times.
The independent judging panel for the awards will again consist of corporate restructuring practitioners, lawyers, regulators, funders and other experts, all with decades of experience across the TRI space.
For more information, visit the TRI awards