Latest news with #GrantThorntonUK
South Wales Argus
8 hours ago
- Business
- South Wales Argus
Celtic Holiday Parks, Pembrokeshire in administration as buyer sought
A buyer is now being sought for Celtic Holiday Parks, which operates luxury sites in the south of the county. The sites at Noble Court Holiday Park, Narberth and Meadow House Holiday Park, Amroth will continue to trade as normal, with employees retained, the administrators have stated. Celtic Holiday Parks was set up in 2003, with Huw Pendleton as the managing director of the family business since that time. Recent years have seen investment of around £6m across Celtic Holiday Parks, which offer a range of top-quality accommodation including static caravans, luxury lodges and glamping options with touring and tenting pitches, as well as leisure facilities. Glorious views from the Meadow House park above Amroth. (Image: Celtic Holiday Parks) In 2020, the company received a six-figure loan from HSBC to fund an additional 54 holiday homes across the sites. This was secured as a part of the Coronavirus Business Interruption Loan Scheme [CBLIS]. In 2022, Mr Pendleton received an award for 'outstanding contribution to the UK tourism industry' and accolades for Celtic Holiday Parks have included 'best caravan and camping parks in Pembrokeshire' and 'luxry accommodation provider of the year South Wales'. Dog-friendly glamping at Noble Court. (Image: Celtic Holiday Parks) A spokesperson for the joint administrators at Grant Thornton UK said: 'Alistair Wardell and Richard Lewis of Grant Thornton UK Advisory & Tax LLP, 3 Callaghan Square, Cardiff CF10 5BT were appointed as joint administrators of Celtic Holiday Parks Limited (the Company) on 27 May 2025. 'The joint administrators are continuing to trade the Company's business whilst a buyer is sought, and the Company's employees have been retained to support this strategy. The indoor pool at Meadow House. (Image: Celtic Holiday Parks) 'We confirm that, unless customers are contacted and advised otherwise, their bookings will go ahead and access to the parks will continue as normal for owners of caravans and lodges. 'Should you be interested in acquiring the Company's business and assets, please contact the joint administrators' team.' The Western Telegraph has contacted Celtic Holiday Parks for a comment.
Scotsman
28-05-2025
- Business
- Scotsman
UK mid-market shaken but not deterred by tariffs dramas and economic head winds
New research from leading business and financial advisory firm Grant Thornton UK has revealed the UK's mid-market remains broadly optimistic in the face of uncertainty driven by tariffs. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Grant Thornton UK's latest Business Outlook Tracker, a rolling survey of over 600 UK mid-market decision makers (April 2025) found that whilst businesses are reviewing their strategies around US and international investment, they expect their decisions to be made quickly and feel they have a clear view of the options available. Undertaken before the announcement of the UK-US trade deal, the Business Outlook Tracker optimism indicators have declined since they reached record highs at the beginning of the year; they remain above average levels seen across the last four years. 80% of businesses were optimistic about the UK's economic prospects over the next six months (-3pp since February) and 59% expect their organisation's profits to increase in next six months (-8pp decrease since February). Advertisement Hide Ad Advertisement Hide Ad Jill Hay, Partner at Grant Thornton UK in Scotland, said:'Mid-market businesses are the real powerhouse of the UK economy. Their plans, actions and opinions are a clear bellwether of our economic health. This survey was undertaken in light of the Government's Spring Statement and six months after the Autumn Budget, both of which contained significant fiscal announcements which created cost increases for businesses in many areas. That mid-market leaders remain this positive is notable. Jill Hay, Partner at Grant Thornton UK in Scotland 'Having faced the considerable challenges of the last five years, dominated by the pandemic and its after-effects, many businesses are now hard-wired to withstand sudden shocks and have built resilience into their business model.' When questioned about their focus on the US market, 75% of respondents said that the US is a core growth market. Though many (61%) respondents agreed that tariffs will have a negative impact on the growth of their business, mid-market leaders are exploring options and remaining cautiously optimistic about cross-Atlantic trade. 70% still believe the Trump administration is good for British business, though this has dropped -13pp since February this year. Despite this positive sentiment, of those businesses currently trading with the US (68% of total respondents) nearly half (45%) expect to stop trading with the US completely, and 25% expect to scale down trading with the US. Only a small number (9%) do not expect any impact on their trade with the US. Advertisement Hide Ad Advertisement Hide Ad Jill Hay concluded:'According to our research, businesses are moving quickly to consider all options on the table, from exploring alternative markets, to setting up US operations to moving elements of the supply chain back to the UK. 'Whilst the survey was undertaken before the announcement of the US-UK trade deal, we have seen limited details so far, and bearing in mind that negotiations in some areas are still in train, I suspect that the mid-market's planning will have changed little – there is still a lot to be decided, and considering all options remains the right business course of action. 'Things are changing at pace, this month so far, we have seen two trade deals and interest rate cut delivering some positive economic progress and welcome reassurance for businesses. Trade deals serve to offer clarity for businesses, aiding planning and investment. With a further deal with the EU expected before the end of the month, this clarity along with the endorsement of global leaders reinforces the UK's position as a reliable trading partner. 'Crucially, in the current unpredictable world, it is important not to take knee-jerk decisions when considering market focus or location of operations. These are longer-term decisions and assuming an outcome can result in locking a business into a costly change programme and higher cost environment. Advertisement Hide Ad Advertisement Hide Ad 'However, inertia can also negatively impact a business. Detailed sensitivity and options analysis, with flexible contingencies, is how we are seeing the better-prepared businesses responding in its current period of 3-6 months before we know more of where US policy, and key international trade deals, will end up.'
Scotsman
28-05-2025
- Business
- Scotsman
UK mid-market shaken but not deterred by tariffs dramas and economic head winds
New research from leading business and financial advisory firm Grant Thornton UK has revealed the UK's mid-market remains broadly optimistic in the face of uncertainty driven by tariffs. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Grant Thornton UK's latest Business Outlook Tracker*, a rolling survey of over 600 UK mid-market decision makers (April 2025) found that whilst businesses are reviewing their strategies around US and international investment, they expect their decisions to be made quickly and feel they have a clear view of the options available. Undertaken before the announcement of the UK-US trade deal, the Business Outlook Tracker optimism indicators have declined since they reached record highs at the beginning of the year; they remain above average levels seen across the last four years. 80% of businesses were optimistic about the UK's economic prospects over the next six months (-3pp since February) and 59% expect their organisation's profits to increase in next six months (-8pp decrease since February). Advertisement Hide Ad Advertisement Hide Ad Jill Hay, Partner at Grant Thornton UK in Scotland, said: 'Mid-market businesses are the real powerhouse of the UK economy. Their plans, actions and opinions are a clear bellwether of our economic health. This survey was undertaken in light of the Government's Spring Statement and six months after the Autumn Budget, both of which contained significant fiscal announcements which created cost increases for businesses in many areas. That mid-market leaders remain this positive is notable. Jill Hay, Partner at Grant Thornton UK in Scotland 'Having faced the considerable challenges of the last five years, dominated by the pandemic and its after-effects, many businesses are now hard-wired to withstand sudden shocks and have built resilience into their business model.' When questioned about their focus on the US market, 75% of respondents said that the US is a core growth market. Though many (61%) respondents agreed that tariffs will have a negative impact on the growth of their business, mid-market leaders are exploring options and remaining cautiously optimistic about cross-Atlantic trade. 70% still believe the Trump administration is good for British business, though this has dropped -13pp since February this year. Despite this positive sentiment, of those businesses currently trading with the US (68% of total respondents) nearly half (45%) expect to stop trading with the US completely, and 25% expect to scale down trading with the US. Only a small number (9%) do not expect any impact on their trade with the US. Advertisement Hide Ad Advertisement Hide Ad Jill Hay concluded: 'According to our research, businesses are moving quickly to consider all options on the table, from exploring alternative markets, to setting up US operations to moving elements of the supply chain back to the UK. 'Whilst the survey was undertaken before the announcement of the US-UK trade deal, we have seen limited details so far, and bearing in mind that negotiations in some areas are still in train, I suspect that the mid-market's planning will have changed little – there is still a lot to be decided, and considering all options remains the right business course of action. 'Things are changing at pace, this month so far, we have seen two trade deals and interest rate cut delivering some positive economic progress and welcome reassurance for businesses. Trade deals serve to offer clarity for businesses, aiding planning and investment. With a further deal with the EU expected before the end of the month, this clarity along with the endorsement of global leaders reinforces the UK's position as a reliable trading partner. 'Crucially, in the current unpredictable world, it is important not to take knee-jerk decisions when considering market focus or location of operations. These are longer-term decisions and assuming an outcome can result in locking a business into a costly change programme and higher cost environment. Advertisement Hide Ad Advertisement Hide Ad
Scotsman
01-05-2025
- Business
- Scotsman
Grant Thornton strengthens Insolvency, Forensics and Restructuring team in Scotland
Leading business and financial adviser Grant Thornton UK has announced three internal promotions within its Insolvency, Forensics and Restructuring (IFR) team in Scotland, alongside the appointment of a third licensed Insolvency Practitioner (IP) locally. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Ian Dawson, based in Edinburgh, has been promoted to Associate Director, and he'll be focusing on forensic investigations, disputes and contract compliance assignments. Recent assignments include expert witness reports for disputes before the Scottish courts, quantification of loss in a large overseas fraud investigation and several contract compliance reviews in the real estate and utilities sectors. Further bolstering the team's bandwidth in insolvency matters, Claire Martin, a Director in the team with over 12 years' restructuring and insolvency experience, has recently gained her insolvency licence and is now able to accept corporate insolvency appointments alongside colleagues Stuart Preston and Julie Tait. This takes Grant Thornton's cohort of appointment-taking IPs in the UK to 45. Advertisement Hide Ad Advertisement Hide Ad Claire, who is based in Glasgow, will undertake this role alongside her primary responsibility for delivery of the team's Restructuring offering in Scotland. She focuses on supporting Scottish mid-market companies and their stakeholders in times of stress or distress, and is experienced in a broad range of corporate insolvency instructions, including administrations and liquidations, across a range of sectors in Scotland including energy, real estate, construction and leisure. Ian Dawson The team has also promoted Shonagh Young and Victoria Reid to Managerial positions. Edinburgh-based Shonagh works across forensic, restructuring and insolvency assignments, including recent work on a PLC administration in the energy sector and contract compliance reviews. Glasgow-based Victoria focuses on restructuring and debt advisory engagements across sectors including leisure, waste and manufacturing, and assists corporates with debt raising and refinancing to secure competitive terms. Stuart Preston, Partner and Head of Insolvency, Forensics and Restructuring in Scotland at Grant Thornton, said: "These three very well-deserved promotions and new insolvency practitioner appointment demonstrate our continued investment in Grant Thornton's Insolvency, Forensic and Restructuring offering to the Scottish market. "Whilst the Scottish economy has shown resilience in challenging times, we are being instructed on an increasing number of assignments across our service offerings by proactive corporates and their stakeholders seeking to protect value and resolve challenging situations. Advertisement Hide Ad Advertisement Hide Ad "As a team we are uniquely placed, drawing together our specialist expertise in Insolvency, Forensics and Restructuring within one delivery team, maximising the value to clients from the cross-disciplinary skills mix and flexible approach to assignments." Claire Martin 'Moving forward, the restructuring team in Scotland will continue to invest in its market-leading team, deliver the highest quality of output for clients across its service offerings, maximise the value delivered in what can be time pressured and stressful times for directors, and work in collaboration with the wider team across Grant Thornton UK and its international network.' Claire Martin, Director at Grant Thornton, said: "In challenging times for corporates, taking early advice is key to being able to assess the full suite of options available. When necessary, an insolvency appointment may be the most appropriate route for a corporate experiencing financial distress as a means to realise the best outcome for creditors and allow the underlying business to continue to trade. "My appointment as an appointment-taking insolvency practitioner in Scotland adds further bandwidth to the team and strengthens our position as one of the leading teams within the restructuring and insolvency sector in Scotland." Advertisement Hide Ad Advertisement Hide Ad
Yahoo
30-01-2025
- Business
- Yahoo
Grant Thornton UK strengthens tax advisory team
Grant Thornton UK has expanded its tax advisory team with a series of new senior appointments and internal promotions. The firm has added four new partners and three new directors. Antoinette Quinlan joins Grant Thornton as partner in its Innovation Tax team. Quinlan brings more than 20 years of experience in advising clients on research and development (R&D) tax incentives and government funding for innovation. She has worked with clients across various sectors, including life sciences, manufacturing, food and beverage, energy, and technology. At Grant Thornton UK, she will focus on helping large corporate and multinational businesses access R&D tax incentives. Quinlan will also assist clients in developing frameworks to manage risk and ensure eligibility for tax incentives. Chris Macdonald has been appointed as partner to lead the firm's Private Capital Tax team in London. Macdonald, who began his career in corporate mergers and acquisitions tax, has spent the last eight years specialising in tax advice for private equity portfolio companies. In his new role, he will provide corporate tax advice to private and private equity-owned businesses in London and further grow the firm's tax team in the capital. Jack Newton, who joined Grant Thornton in 2006 as a graduate, has been promoted to tax partner in the Milton Keynes office. Newton has more than 12 years of experience, specialising in tax due diligence and structuring services. As part of the national transaction tax team, he will focus on growing the firm's regional team and strengthening relationships with mid-sized to large corporates. Colin Park, based in the Glasgow office, has also been promoted to partner. Specialising in tailored tax strategies for owner-managed businesses and large corporate groups across Scotland, Park advises on tax structuring for transactions, shareholder tax planning, and more. He will focus on expanding the Scottish tax practice and helping privately owned businesses across Scotland achieve their growth ambitions. Grant Thornton UK Tax head Hazel Platt said: 'We're committed to both attracting new talent to the firm but also recognising the brilliant talent we already have within the team and investing in their careers as we look to grow. Five senior internal promotions demonstrate our commitment to supporting the fulfilling careers that people can achieve at the firm as we have individuals now joining the partnership who first started their careers with us as trainees. 'These significant investments in our tax team will strengthen our existing offering to clients and put us in a strong position for further growth, broadening the specialist support and advice that we can provide our varied and dynamic client base across the UK.' In addition, the new director promotions within the tax offering encompass Michelle Perry in Birmingham, Cristina Pavel in Glasgow, and Michael Cooper in Southampton. Earlier in January 2025, Grant Thornton also announced the appointment of 15 new partners across its audit, tax, and advisory services in Ireland. "Grant Thornton UK strengthens tax advisory team" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
