© tom_schmucker dreamstime.com Electronics Production | May 18, 2015
Insolvencies and the UK
Company insolvencies in England and Wales were at their lowest level since Q4 2007.
Creditors’ voluntary liquidations were at their lowest level since Q2 2008. However, compulsory liquidations increased for the first time since Q1 2014. The number of administrations increased on the previous quarter, but were down on the year, while receiverships and company voluntary arrangements both declined to their lowest level since Q4 2007, writes the The Insolvency Service in its statistics report for January to March 2015. Graham Bushby, of Baker Tilly, says that despite the positive picture, many companies are still experiencing significant financial distress, and that there are a number of reasons why we could see insolvency levels rising again within the next one to two years. Over the space of one month, several UK-based companies – involved in electronics manufacturing – were assigned liquidators.
- A.P.T Electronics Limited, a manufacturer of thyristors, based in Cockermouth, Cumbria. Peter William Gray and Andrew Little, both of Rowlands Restructuring & Insolvency have been named liquidators. (date of announcement: April 17, 2015)
- LMW ELECTRONICS LIMITED, Radio and electronic design consultancy and manufacturing, based in Newtown Unthank, Leicestershire. (Date of Appointment: April 14, 2015)
- LANGFORD ELECTRONICS UK LIMITED, based in Hunningham Hill. The petition to wind-up was granted on March 30, 2015.
- MCN ELECTRONICS LTD, based in Dungannon, Co Tyrone, have voluntarily petitioned for liquidation. Seamas Keating, PKF-FPM Accountants Ltd, has been assigned to the case. (date of appointment: April 9, 2015)