Insolvency firm enters administration

WARWICKSHIRE insolvency specialist Bond Partners, has gone into administration, with fellow accountancy firm RSM Tenon appointed to handle the case, reports suggest.

Colin Wilson and Trevor Binyon from Tenon have been appointed joint administrators of the firm, it is understood.

The Alcester-based partnership – which also had a 50% shareholding in the now-liquidated Bond Partners Network – was also hit with a winding-up order by HM Revenue and Customs (HMRC).

Before the administrators’ appointment, a number of assets, including work in progress (WIP), were sold to Axiom Recovery LLP – run by former members of Bond Partners.

Sister company Bond Partners Network, which acted as a marketing intermediary for accountancy firms, was wound up by the High Court last year.