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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CAPA attends MIPIM Cannes 2019
Find out moreCAPA are delighted to have attended the MIPIM 2019 a 4 day real estate event from 12-15th March 2019 in Cannes, France.
Established in 1990, MIPIM is a real estate event to meet the most influential players from all sectors of the international real estate industry.
It brings the entire value chain together and gives unrivalled access to the greatest number of development projects and sources of capital worldwide.
This 2019 edition gathered 26 800 players from all sectors of the international property industry with more than 5,400 investors, 560 political leaders coming from more than 100 countries.
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CAPA accelerates recoveries on national tyre chain
Find out moreCAPA has been appointed to audit properties across a tyre company that covered 80 percent of the UK at the point of its collapse.
Tyres on the Drive, based in Crewe, offered mobile tyre fitting and puncture repair services from eight regional hubs around Britain. At its peak the business posted turnover of more than £15m and employed 170 staff.
More recently the company endured severe financial difficulties and on January 30 2019 it entered insolvency, with Sarah O’Toole, Jon Roden and Edward Williams, of the business advisory firm Grant Thornton, being appointed as administrators.
They have now instructed CAPA to undertake property audits of 10 sites run by the tyre chain. This means CAPA’s Audit team will now use bespoke software to trawl through all costs relate to the properties, such as business rates, utility bills and service charges.
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CAPA strikes contract on bowling chain
Find out moreThe administrators of a bowling chain with sites in London and around the south east have appointed CAPA to conduct audits on all the firm’s locations.
Duff & Phelps, the business advisory and insolvency company, instructed CAPA to undertake rates audits on 12 bowling alleys run by MFA Bowl Ltd, which entered administration in February.
Based in Lewisham, London, MFA Bowl operates bowling alleys in towns including Whitstable, Chichester and Newbury, but had recently endured financial difficulties and adverse trading conditions.
Allan Graham and Phil Duffy, of Duff & Phelps, were appointed as joint administrators on February 13 2019.
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CAPA appointed on Italian café chain
Find out moreThe liquidator of a premium Italian café chain – which served diners in prime London locations including one opposite Selfridges – has appointed CAPA to audit the sites.
David Rubin & Partners, which is winding down Caffe Fratelli Limited after the coffee and deli chain entered liquidation, has appointed CAPA to undertake property audits of five cafés across the business.
Although the company had been trading for 17 years from sites dotted around London’s busiest shopping areas, Caffe Fratelli had suffered substantial financial problems throughout 2017 and 2018, posting a loss of £2.9m for 2017.
By the time it entered insolvency in October 2018, when Stephen Katz of David Rubin & Partners was appointed liquidator, the business had racked up debts of £3.5m to creditors.
As David Rubin & Partners has now issued the property audit instruction, CAPA’s Audit team will use bespoke software to carry out a forensic analysis of utility bills, service charges and rates paid out at each location. The team will look to uncover multiple elements such as errors or anomalies in the costs, before recovering the sums for Caffe Fratelli’s creditors.
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ICAS Burns Supper
Find out moreCAPA were delighted to have attended the ICAS Burns Supper on January 17th at the Ghillie Dhu in Edinburgh with the entertainment on the night being the internationally acclaimed bagpipe band The Red Hot Chilli Pipers.
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CAPA appointed on renowned Scottish hotels
Find out moreThe administrators of two Scottish hotels famously used as wedding venues have called in CAPA to help maximise the sums recovered for creditors.
CAPA will be conducting a rates audit on the Burnhouse Manor Hotel in North Ayrshire and Crowwood House Hotel in North Lanarkshire, after corporate advisory firm FRP Advisory were appointed as administrators of both venues.
The parent company of the two hotels had been impacted by severe trading conditions and a significant tax bill which HMRC called in towards the end of 2018.
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Administrators instruct CAPA after Fishing Republic rescue
Find out moreThe corporate recovery experts who rescued a fishing retail chain, saving the entire workforce of 111 jobs, have instructed CAPA to audit stores across the business.
CAPA will be conducting full property audits on around 16 sites at Fishing Republic, after advisers from Leonard Curtis Business Rescue & Recovery managed to sell the struggling business in an 11th-hour rescue deal.
Based in Rotherham with stores around the country, Fishing Republic is one of Britain’s largest retailers of fishing equipment.
In the lead up to its insolvency, Fishing Republic had endured severe financial difficulties after major investors had withdrawn short-term financial support for the company. This left the business unable to meet working capital requirements.
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CAPA appointed on Blue Inc as stuttering retailer enters insolvency
Find out moreThe administrators of Blue Inc, the fashion retailer previously rescued from collapse, have appointed CAPA to audit over 120 stores across the chain.
CAPA will be conducting a rates audit across at least 121 outlets throughout Blue Inc’s U.K. portfolio, having been instructed by administrators at Begbies Traynor, the business advisory firm.
Blue Inc had endured severe financial difficulties in the past two years. In January 2016 the business placed its trading subsidiary A Levy & Son into administration, before buying back parts of the business including stores in a pre-pack deal led by corporate rescue and advisory firm Leonard Curtis. This deal safeguarded 1,500 across the company.
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CAPA appointed on one of UK’s largest care home operators
Find out moreThe administrators of Allied Healthcare, a care home business supporting 13,000 people around Britain, have instructed CAPA to audit 125 properties across the company.
CAPA will be conducting full property and accounts payable audits across the sites, after PwC were appointed as administrators in November 2018.
An employer of more than 8,000 staff, with over 80 branches across England, Scotland and Wales, as well as a subsidiary in Ireland, Allied Healthcare has been one of Britain’s largest care home operators for the elderly and disabled since 1972.
However, the business has suffered from severe financial challenges in the past two years, posting a loss of £1.3m for the year to December 2017. Allied Healthcare also undertook a company voluntary arrangement (CVA) earlier in 2018, but its funding problems persisted for the rest of the year.
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PwC instructs CAPA on cycle chain
Find out moreThe administrators who rescued Evans Cycles from insolvency have appointed CAPA to audit nearly 80 properties across the retailer.
CAPA will be undertaking full property audits, as well as accounts payable audits, on 78 sites throughout the chain after PwC were called in as administrators in October 2018.
As a multi-channel business trading online and through 62 stores on Britain’s high streets, Evans Cycles employs around 1,300 staff. It has been one of the leading independent operators in its field since its formation in 1921.