Save Consultants - Wound Up

Save Consultants, a Manchester-based company that advertised itself as an alternative solution to formal insolvency proceedings, was ordered to be wound up in the public interest on 2 July after Insolvency Service investigations indicated the firm was acting as an unlicensed insolvency practitioner.

The firm provided a brokerage service to assist directors in financial distress to sell their interest in companies and leave their debts behind. However, despite claims that they had worked in corporate restructuring and the insolvency industry for a number of years, none of the current or former directors of Save Consultants were licensed insolvency practitioners.

The Official Receiver has been appointed as liquidator of the company.