Latest news with #FRPAdvisory
The Herald Scotland
10-07-2025
- Business
- The Herald Scotland
All but nine staff made redundant at supplier of Alexander Dennis
Callum Carmichael and Michelle Elliot of FRP Advisory, together with Shona Campbell of Henderson Loggie LLP, were today appointed as administrators of Greenfold Systems Ltd, a specialist manufacturing business based in Dunfermline. The company operated from premises at Pitreavie Business Park and provided manufacturing and assembly services to the commercial vehicle sector. It had built longstanding relationships across the industry, with a significant proportion of its operations supporting Alexander Dennis Ltd, the administrators noted. They added: 'The business entered administration following the withdrawal of this key contract, which rendered the company unsustainable. The administrators are now progressing an orderly wind down of the business, including a sale of its assets. 'Greenfold Systems Ltd employed 90 people. Regrettably, 81 employees have been made redundant following appointment - the administrators are providing affected staff with guidance and support, including assistance with claims to the redundancy payments service. The remaining nine employees are being retained on a short-term basis to complete a customer contract.' Read more Mr Carmichael, a partner at FRP, said: 'Greenfold Systems was a well-regarded business that had carved out a specialist role in the commercial vehicle supply chain. Unfortunately, the loss of a major customer contract had an immediate and severe impact on its financial position. Our priority now is to support the affected employees and to maximise returns for creditors.' Last month, Alexander Dennis announced it was entering into a consultation to "look at consolidating its UK bus body manufacturing operations into a single site in Scarborough, England'. It declared at that stage that its Scottish-based manufacturing in Falkirk, 'which has already been reduced in recent years, would be discontinued and the site closed'. Alexander Dennis added: 'Production lines at Larbert would be suspended upon the completion of current contracts. 'This proposed structure will lower overall costs, deliver clearer responsibilities and increase efficiency by removing duplicate functions and activities.' And it revealed: 'The statutory consultation places up to 400 roles at Alexander Dennis at potential risk of redundancy. This represents approximately 22% of Alexander Dennis' workforce.'
Finextra
19-06-2025
- Business
- Finextra
My Nest Egg enters liquidation
On 4 June 2025, My Nest Egg Limited (MNEL) entered into Creditors' Voluntary Liquidation. Simon Farr and Tom Bowes of FRP Advisory Trading Limited were appointed as joint liquidators. 0 MNEL is authorised and regulated by the Financial Conduct Authority (FCA). It operated a digital platform through which customers managed their pensions and Individual Savings Accounts (ISAs). As MNEL remains authorised, it continues to be subject to the FCA's rules and supervisory oversight. The joint liquidators are officers of the Court and must comply with all relevant insolvency laws. They are authorised to act as licensed insolvency practitioners by the Institute of Chartered Accountants in England and Wales (ICAEW) and the Insolvency Practitioners Association (IPA). We are working closely with the joint liquidators.
Yahoo
18-06-2025
- Business
- Yahoo
3 Promising UK Penny Stocks With Under £700M Market Cap
The UK market is currently experiencing some turbulence, with the FTSE 100 and FTSE 250 indices closing lower amid concerns over weak trade data from China and its impact on global demand. In such a climate, investors often turn their attention to smaller companies that might offer untapped potential. Penny stocks, though an older term, continue to represent an intriguing investment space for those seeking companies with solid financial foundations and growth prospects. Name Share Price Market Cap Financial Health Rating FRP Advisory Group (AIM:FRP) £1.17 £290.22M ★★★★★☆ Foresight Group Holdings (LSE:FSG) £4.00 £449.8M ★★★★★★ Warpaint London (AIM:W7L) £4.04 £326.38M ★★★★★★ Stelrad Group (LSE:SRAD) £1.49 £189.76M ★★★★★☆ Ultimate Products (LSE:ULTP) £0.768 £64.61M ★★★★★☆ Van Elle Holdings (AIM:VANL) £0.385 £41.66M ★★★★★★ Polar Capital Holdings (AIM:POLR) £4.39 £423.25M ★★★★★★ Begbies Traynor Group (AIM:BEG) £1.07 £170.7M ★★★★★★ Croma Security Solutions Group (AIM:CSSG) £0.86 £11.84M ★★★★★★ Braemar (LSE:BMS) £2.33 £72.73M ★★★★★★ Click here to see the full list of 411 stocks from our UK Penny Stocks screener. Let's dive into some prime choices out of the screener. Simply Wall St Financial Health Rating: ★★★★★★ Overview: ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers, operating in the United Kingdom, Germany, Australia, the rest of Europe, and the United States with a market cap of £507.48 million. Operations: The company's revenue is primarily derived from its Electric Equipment segment, generating £23.16 million. Market Cap: £507.48M ITM Power, with a market cap of £507.48 million, is currently unprofitable but has promising prospects in the green hydrogen sector. Recent agreements to supply electrolysers for projects in APAC and Europe highlight its potential for revenue growth, supported by raised guidance for 2025 revenues between £25.5 million and £26.5 million. The company remains debt-free with sufficient cash runway exceeding three years, though it faces challenges like a volatile share price and negative return on equity. The appointment of Jürgen Nowicki as Non-Executive Chair may strengthen strategic direction given his industry expertise. Unlock comprehensive insights into our analysis of ITM Power stock in this financial health report. Gain insights into ITM Power's future direction by reviewing our growth report. Simply Wall St Financial Health Rating: ★★★★★★ Overview: James Halstead plc is a manufacturer and supplier of flooring products for commercial and domestic markets across the UK, Europe, Scandinavia, Australasia, Asia, and internationally with a market cap of £666.86 million. Operations: The company's revenue is derived entirely from the manufacture and distribution of flooring products, totaling £268.52 million. Market Cap: £666.86M James Halstead, with a market cap of £666.86 million, has demonstrated financial stability despite recent earnings decline. The company maintains high-quality earnings and a strong return on equity at 24.1%, while its debt is well-covered by operating cash flow, indicating robust financial health. Recent results show stable net income growth and an increased interim dividend by 10%, reflecting shareholder value focus. Despite challenges like negative short-term earnings growth and an inexperienced management team, the company's low price-to-earnings ratio suggests it might offer good value relative to the broader UK market. Take a closer look at James Halstead's potential here in our financial health report. Explore James Halstead's analyst forecasts in our growth report. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Spectra Systems Corporation invents, develops, and sells integrated optical systems both in the United States and internationally, with a market cap of £111.44 million. Operations: Spectra Systems generates revenue through three main segments: Security Printing ($16.28 million), Software Security ($1.96 million), and Physical and Software Authentication ($30.96 million). Market Cap: £111.44M Spectra Systems, with a market cap of £111.44 million, showcases strong financial health and growth potential in the penny stock sector. The company reported significant revenue growth to US$49.19 million for 2024, up from US$20.29 million the previous year, with net income rising to US$8.52 million. It maintains high-quality earnings and a robust return on equity at 23.4%. Spectra's debt is well-covered by operating cash flow and interest payments are comfortably managed by EBIT, indicating sound fiscal management despite increased debt levels over five years. Recent executive changes include appointing Kevin Richards as Finance Director, enhancing financial oversight capabilities. Dive into the specifics of Spectra Systems here with our thorough balance sheet health report. Assess Spectra Systems' future earnings estimates with our detailed growth reports. Embark on your investment journey to our 411 UK Penny Stocks selection here. Interested In Other Possibilities? Rare earth metals are the new gold rush. Find out which 24 stocks are leading the charge. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include AIM:ITM AIM:JHD and AIM:SPSY. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
BBC News
19-05-2025
- Business
- BBC News
Lowdham care home goes into liquidation after suspension
A care home in Nottinghamshire that had its licence to operate suspended has been placed into liquidation. An inspection by the Care Quality Commission (CQC) found "concerns around safety, care planning and oversight" at The Firs Residential Care Home in Lowdham, leading to a three-month suspension and residents being moved out of the home.A Companies House document showed liquidators from FRP Advisory Trading Limited were appointed on 29 care home has been contacted by the BBC for a comment. Companies House documents from 24 April show the care home's summary of assets stood at £52, reduction of unpaid pension contributions, priority creditor payments and payments to the taxman resulted in £30,168 being left over.A total of £125,476 was owed to the rest of the Firs' creditors, with this amount including £40,000 in remedial works on its site and £45,860 in unsecured employee claims. The documents also showed nine residents who had lived in the home before it closed were owed thousands of pounds - with one owed £4, in April, Nottinghamshire County Council it had "supported a number of people who were moved to alternative accommodation" and "also offered our support to all the families affected"."The county council is in communication with the CQC regarding this matter and will await updates regarding the current suspension of registration," a statement said.
