Companies which have gone into administration

[temi]

Seeking protection from their creditors did not work then. In another related development, insolvency went up by over 200% in the last quarter of 2008.

[temi]

Payment processing company Transx payment processor is said to have ceased trading, don't know if this is connected with the credit crunch in any way.

[TeamPlayer]

Judging by what was said on Football Focus earlier, it seems that it`s only a matter of time before Southampton F.C file for Administration. To be fair, that hasn`t yet happened, but in these days nothing surprises me.

[TeamPlayer]

Antony Worrall Thompson's restaurant chain has reportedly become the latest victim of the credit crunch.

According to The Mirror, the TV chef has had to let 60 staff go and held crisis talks on Friday as five of his restaurants went into administration.

The Lamb in Henley-on-Thames, the Barnes Grill, Notting Grill, Kew Grill and Windsor Grill have apparently gone under, following the closure of The Greyhound in Henley-on-Thames two weeks ago.

The Kew and Windsor restaurants remain open for business, along with his Ferry Lane Farm and Deli near the Windsor Grill.

Worrall Thompson said: "The administrator was stuck in snow on Friday so I broke the news to all the staff myself today. This was probably better because I could be softer with everyone and do my best to reassure them.
"I am absolutely gutted about this whole situation. These guys are like my family and I have promised to do everything that I can to get them back on their feet."

Worrall Thompson said that he will make sure his staff get paid "one way or another", adding that he will reach into his own pocket if necessary.


digitalspy.co.uk

[temi]

Whao, its beginning to claim celebrity scalps as well, its really beginning to bite :(

[TeamPlayer]

JJB Sports has put its loss-making LifeStyle business, home to high street chains Qube and Original Shoe Company, into administration after failing to find a buyer.

The Wigan-based company also confirmed speculation that it had received a number of approaches for its fitness clubs.

Reports at the weekend said offers for the clubs of between £35m and £55m had been lodged with investment bank Lazards, with bidders including JJB founder David Whelan, Sports Direct founder Mike Ashley, and Fitness First, the world's largest fitness club operator.

JJB Sports, whose shares have plunged 90% in the past year, is suffering as cash-strapped consumers hold off spending in the worsening economic climate. It needs to sell its fitness clubs to help reduce its £60m of debts, but the prices being suggested would still leave the company facing a cash squeeze. Analysts reckon the firm needs about £75m to be able to invest in its stores and drag itself out of the recession.


guardian.co.uk

[temi]

Well, at least the parent company is still going, I use JJB sports shop on my local high street 2-3 times a year.

[TeamPlayer]

Woolworths' manager reopens store as Wellworths

Miss Robertson, 34, had been with the firm for 18 years since she worked as a Saturday girl, and couldn't bear for the job to end.

So she secured investment and is set to relaunch the popular and profitable shop in Dorchester, Dorset, and run it just like Woolworths.

She has promised to keep the famous Pick 'n' Mix and will also stock toys, home and kitchen items, textiles and seasonal products.

Wellworths, which Miss Robertson believes will become known locally as Wellies, will employ 22 staff who previously worked there.

Miss Robertson had been manager of the Dorchester shop for five years and it was one of the last in the country to close on January 6.

Miss Robertson, who lives in Yeovil, Somerset, said: "I had been with Woolworths for 18 years and started as a Saturday girl.

"I trained as an assistant manager and worked in several stores and was manager at the Dorchester one for the last five years.

"When we heard the news that it was to close there were lots of tears.

"But I didn't see why the shop should close because it was profitable and was always popular.

"So I decided to open it myself and the name Wellworths cropped up.

Telegraph.co.uk

[TeamPlayer]

What a great story! Nice to see the entrepreneur in her.

[temi]

Yes, I heard it on the radio too, I think its and excellent move by that lady, I hope she succeeds.