Recruiter places ‘phoenix’ firm into liquidation just months after repurchase erased millions in debt

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Guardian Business

Recruiter places ‘phoenix’ firm into liquidation just months after repurchase erased millions in debt

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…