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Bell Pottinger North - Client News
Tuesday, June 20, 2006
PETER CLARKE LEADS MBO AT HEAVEN & HELL GROUP OF COMPANIES

The Heaven & Hell Group of Companies has been placed into formal insolvency, following what can only be described as difficult times in the late night industry.

Andrew Dick and Steven Williams of Begbies Traynor, Preston have been appointed to deal with the group’s affairs.

Peter Clarke, supported by Scottish & Newcastle Brewery has agreed a deal in excess of £2.5million to buy back some of the former Heaven & Hell sites and will operate the units under the new company name, Shelrick Ltd.

Peter Clarke had successfully disposed of Heaven & Hell in Leeds and Blackpool before the insolvency and will be taking Heaven & Hell in Blackburn, Barnsley and Hull into the new company.  Peter Clarke had made considerable progress towards restructuring the business, but with the changes in licensing in November, coupled with the changing patterns within the late night sector he was unable to secure the business in its current state.

The company was launched in 1998 with the first Heaven & Hell venue in Blackpool, closely followed by Leeds, Stockport, Barnsley, Huddersfield, Hull and Blackburn.

Although trading has been difficult over the last few years, the company has seen a breakthrough with its latest brand ‘Terminal 1’, which Shelrick now intend to roll out throughout the acquired sites, again with the support of the brewery.

Peter Clarke commented: "This has been a very difficult time for me both personally and professionally as I have so much emotional attachment to the Heaven & Hell brand. But, I have to look to the future and there are some exciting times ahead.

“I have a very talented and capable team who, over the past 12 months, have demonstrated commitment and loyalty to both myself and the company and with their proven skills and understanding of the industry Shelrick Ltd has an exciting future ahead."

Shelrick Ltd senior management team includes Peter Clarke CEO; Angela Watt, company secretary and PA to Peter Clarke; Steve Ramsdale, financial controller and Bev Naughton operations and marketing manager.

All staff currently employed within Barnsley, Blackburn and Hull will be transferring to the new business. Shelrick Ltd will continue to trade from the current head office in Blackpool.

Ends

Enquiries, please contact:

Joanne Fletcher-Wall
Bell Pottinger North
01625 506 444

Information on Begbies Traynor can be accessed via the Group’s website at

www.begbies-traynor.com <http://www.begbies-traynor.com>

Notes to editors:

About Begbies Traynor Group plc
The Group specialises in business insolvency management and is becoming increasingly active in the area of personal insolvency. It also offers services in corporate rescue and investigation services and has entered the field of corporate finance.

In November 2005, the Group entered the rapidly-expanding volume personal insolvency market via the acquisition of W3 Debt Solutions, a firm specializing in providing advice and practical support to individuals in debt. 


The Group has grown to its current network of 32 nationwide offices ranging from Scotland to the South West of England, with 350 operatives. The Company continues to pursue its strategy of organic development, coupled with the acquisition of specialist knowledge of both individuals and firms, to further increase its market share in its core services.


The Directors believe that the Group is the UK's largest independent insolvency, corporate rescue and recovery specialist with clients ranging from major institutions to individuals with business difficulties.

 
The Office Network
The Group operates with 60 licensed insolvency appointment takers, some 225 fee earning staff and 65 in support and administration. The Group operates from 32 locations across the UK.

Business Activities
The core business of the Group is the formal administration of insolvencies including receiverships, liquidations, administrations, company voluntary arrangements and business-related personal insolvencies. The Group has extended its activities into a range of consultancy services including corporate rescue, credit management, forensic and investigation services and corporate finance.



 

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www.bellpottingernorth.co.uk





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