Former Owner Reacquires Insolvent Recruitment Firm After £2.9m Debt
Andrew Woosnam, the former boss of Premier Group Recruitment, has reacquired the firm after it entered administration in September. The company collapsed with total debts of £2.9 million, which included £647,000 in unpaid taxes that led HM Revenue and Customs to initiate enforcement proceedings. The acquisition has sparked criticism and raised questions regarding 'phoenixism'—the practice of restarting a business under a new entity to shed debt. Despite the financial turmoil and reports that Woosnam had previously extracted millions from the firm, the company offered staff a trip to Las Vegas, though it has since fallen behind on payments.
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Sources
Firm that went bust owing £650k to HMRC offers staff Las Vegas trip after being bought by ex-owner | Business | The Guardian
Premier Group Recruitment went into administration in September with debts of £2.9m – including £647,000 owed to HM Revenue and Customs (HMRC), which had commenced enforcement proceedings against the company.
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