News
Here you can find CAPA’s latest appointments to undertake forensic audits, as well as instructions for property services from a range of blue-chip clients including retailers, insolvency practitioners, leisure operators, banks and venture capitalists.
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Quantuma appoints CAPA after saving jobs at restaurant chain
Find out moreAdministrators who rescued a restaurant chain by managing a pre-pack sale of the business have appointed CAPA to audit properties the company traded from.
Quantuma managed to secure the future of Fyre Restaurants, which trades as Roxie Steak, by selling the company’s business and assets at three trading sites. The deal secured the future of 50 jobs across the chain and enabled a full return to the firm’s secured creditor and a distribution to the preferential creditors.
Quantuma has since instructed CAPA to conduct the rates audits as it looks to recover further funds for the preferential creditors of Fyre Restaurants. The chain operated five restaurants across London, including in Wimbledon, Earlsfield, Putney, Twickenham and Fulham.
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CAPA appointed on global fashion group linked to Beckham’s brand empire
Find out moreThe administrators of a group of international fashion and footwear companies have instructed CAPA to undertake audits at sites the company traded from.
Teneo Restructuring, the corporate restructuring unit of the global advisory firm, was appointed late last year as administrators of GBG Europe Footwear and Accessories, GBG International Holding Company and TVM Fashion Lab.
GBG International Holding Company owns 51% of Seven Global, the licensing platform for David Beckham to promote partnerships with global brands.
Since its appointment to the fashion and footwear companies, Teneo Restructuring has instructed CAPA to conduct the rates audits on 10 international sites across the business.
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CAPA to appear at R3 Annual Conference
Find out moreCAPA will be appearing at R3’s Annual Conference in May, in a session where experts will explore the impact of a new arbitration scheme designed to resolve disputes over commercial rent arrears.
CAPA’s co-founder and head of property services Mike Sheath will be appearing alongside panellists drawn from the insolvency and corporate restructuring profession, as well as the main trade body for commercial property landlords, in a session that takes a deep dive into the new Commercial Rent Arrears Arbitration Scheme.
As the annual conference returns as a face-to-face event, at Beaumont Estate in Windsor on May 18-20, the panel will discuss how effective the scheme could be in resolving rent arrears disputes – a long-running issue that the pandemic has exacerbated in retail and other sectors.
As a leading authority on the issue, Mike Sheath will examine the new government scheme that’s due to come into force next month and its implications for insolvency practitioners involved in attempts to resolve such disputes, as they look to preserve the value of companies in trying to rescue or restructure them.
On the third day of the conference, the panel will look at how the scheme and the accompanying code of practice will operate in practice, exploring landlords’ and tenants’ views on whether it will achieve the aim of resolution. Alongside Mike, the other panellists will be:
Melanie Leech, chief executive, British Property Federation; Jason Hunter, partner, Russell Cooke; Ian Corfield, partner, FRP Advisory; David Fendt, senior associate, Russell Cooke; Lee Benmore, assistant manager, Mercer & Hole.
More information on the three-day event can be found on the R3 website.
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Leonard Curtis appoints CAPA on national facilities manager
Find out moreThe administrators of a facilities management firm hit hard by the pandemic have instructed CAPA to conduct audits of all its sites around the country, to help boost returns to creditors.
Leonard Curtis Business Rescue & Recovery has appointed CAPA to undertake rates audits of 17 sites run by Mortimer Facilities Management Ltd, after the corporate rescue firm completed a pre-pack sale of the company to a connected party.
The history of Mortimer Facilities dates back more than 25 years to its beginnings in the mid 1990s in the south east of England.
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MacIntyre Hudson appoints CAPA on national rail services provider
Find out moreThe liquidators of a technology provider for national rail companies have appointed CAPA to help boost recoveries for the firm’s creditors.
MacIntyre Hudson, the business advisory and corporate restructuring firm, has instructed CAPA to conduct rates audits of nine sites around the UK used by Smth Rail Signal Testers, which is now in liquidation.
The business had suffered various financial problems during the past year, having twice faced compulsory strike-off action at Companies House.
A winding up order was issued against the company in November 2021 and in January this year, the business entered liquidation with Georgina Eason and James Snowdown of MacIntyre Hudson appointed as liquidators.
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CAPA appointed on construction firm, after Grant Thornton secures over 1,600 jobs
Find out moreAdministrators who saved more than 1,600 jobs at a £400m turnover construction business have instructed CAPA to conduct audits at sites the firm operated.
Grant Thornton was called in last year as administrators to NMCN, in what was one of the largest business failures in the construction industry since the collapse of Carillion.
After agreeing three separate sales of different divisions of the company, which secured the jobs of 1,642 employees, Grant Thornton appointed CAPA to undertake rates audits of 22 sites NMCN occupied.
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CAPA appointed on facilities manager hit by pandemic
Find out moreAdministrators who saved the jobs of more than half the workforce at an insolvent facilities management firm have instructed CAPA to audit sites the firm occupied.
As administrators of Clarendon Enterprise Centre, Leonard Curtis Business Rescue and Recovery managed to secure the future of the company through a sale to a connected party, via a pre-pack administration.
Leonard Curtis has since instructed CAPA to conduct rates audits on 13 offices the company traded from.
Clarendon had been profitable until 2020, turning a profit of more than £1.2m and a turnover of nearly £11.5m for 2019, but since the pandemic began several factors impacted the business.
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CAPA hails TRI Awards winners and finalists
Find out moreCAPA has marked another year of supporting the turnaround, restructuring and insolvency profession with its headline sponsorship of the TRI Awards, which championed exceptional achievement across the industry last week.
As headline sponsor of the awards programme, which culminated in a gala dinner in London on December 9, CAPA supported an event that recognised outstanding achievements in the work of rescuing businesses during the pandemic.
Across 24 categories, some of which were presented by CAPA co-founder and director Tony Sweeney, the awards celebrated successes across corporate restructuring and turnaround teams, insolvency practitioners, funders, lawyers, barristers, government agencies and charities.
The TRI Awards also recognised long-standing contributions for the good of the profession.
This was made though The Sabin Award for Outstanding Contribution to the Industry, which went to Richard Long, who has been involved in the insolvency industry since 1972 when he joined Leonard Curtis & Co to train in insolvency.
He has also served on several committees for the Insolvency Practitioners Association, and led the organisation as president in 2003-4.
The full list of winners can be seen on the TRI Awards website.
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CAPA supports achievements of corporate rescue professionals with TRI Awards backing
Find out moreCAPA 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 2021.
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.
The TRI Awards marked a historic first last year in hosting a live, televisual awards ceremony in a London studio.
For 2021, as the awards programme reaches its 14th year, the TRI Awards will return as an in-person event, due to be held at the Hilton London Bankside on 9 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 website.
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CAPA appointed on discount retailer after FRP sells business to new venture
Find out moreThe administrators of a discount retailer who managed to sell the chain and its assets out of administration have appointed CAPA to help generate further returns to creditors.
Corporate restructuring and advisory firm FRP has instructed CAPA to conduct audits on JTF Wholesale, which trades as JTF Mega Discount, after the chain was sold to a new venture led by fellow discount retailer Bargain Buys.
After a challenging trading period for the business and a series of unsuccessful restructuring processes, the directors of JTF Wholesale were left with no choice but to cease trading.