Ince unable to pay creditors in full as administration draws to a close

Ince unable to pay creditors in full as administration draws to a close

Following their appointment as joint administrators for Ince on 28 April 2023, Andrew Hosking and Sean Bucknall of Quantuma Advisory have filed a statement of administrator’s proposal (the Quantuma proposal) at Companies House.

A pre-pack sale of Ince’s business and assets to Axiom Ince has now been completed. The Quantuma proposal states: ‘Of the total sale consideration of £2,200,000, £1,000,000 has been received to date and the remaining £1,200,000 will be collected as and when it falls due for payment.’ Continue reading “Ince unable to pay creditors in full as administration draws to a close”

HSF, Davis Polk and Eversheds act on Made.com collapse as market expects FTX fallout

HSF, Davis Polk and Eversheds act on Made.com collapse as market expects FTX fallout

Partners from Herbert Smith Freehills (HSF), Davis Polk and Eversheds Sutherland have secured advisory roles on the administration and £3.4m sale of online furniture retailer Made.com to Next.

In early November, Made.com filed notice of its intention to appoint administrators, advised by a HSF team led by London restructuring partner John Chetwood and including City corporate partners Ben Ward and Caroline Rae. Since the administration, 320 Made.com jobs have been axed as the company collapsed.
Continue reading “HSF, Davis Polk and Eversheds act on Made.com collapse as market expects FTX fallout”