More BME PR practitioners – and one BME Prime Minister
July 26th - 2010
by Gabriel St Aimee, Intern at Northern Lights PR Without intending to evangelise, PR is needed for the BME community, not just for diversi...
Yorkshire insolvent deals remain high as buyers seek bargains
Acquisitions of insolvent businesses in Yorkshire are running at the highest levels in recent years, according to research into mergers and acquisitions by Experian Corpfin on behalf of insolvency trade body R3.
During the fourth quarter of 2009, 11 out of 43 deals completed in the region - one in four of all deals - involved companies acquired out of administration or other formal insolvency procedures. During the year as a whole, one in every five deals (48 out of 246) involved acquisitions of distressed businesses, compared to one in 15 deals (27 out of 404) during 2008.
Andy Wood, Yorkshire regional chair of R3 and partner in The P&A Partnership, said: “Acquisitions of insolvent businesses remain at high levels. While pre-pack administrations may account for some of these deals, others will be acquisitions by canny buyers taking the opportunity to pick up bargains while values are low. Either way, each of these statistics represents a business that is being given a second chance of survival.”
