Recruiter places ‘phoenix’ firm into liquidation just months after repurchase erased millions in debt
OMEGAZEPRIME News
This story was selected and curated by our editorial team in the Accountancy category. Published on August 30, 2026 • Originally reported by Simon Goodley. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
This story was selected and curated by our editorial team in the Accountancy category. Published on August 30, 2026 • Originally reported by Simon Goodley. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
New company reportedly quickly fell behind with promised repayments to administrator
A recruitment executive who was allowed to buy back the assets of his bust company in instalments, despite it accumulating almost £3m of debt, has placed his new business into liquidation after falling behind with promised payments to the administrator.
The news is the latest event to raise questions about the practice of “phoenixism”, accounting’s controversial art of liquidating companies to allow directors to return with a new entity, free of debts.
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