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‘Why would I leave?’: Middlesbrough pushes back against ‘hardest place to grow up’ label
The Guardian·

‘Why would I leave?’: Middlesbrough pushes back against ‘hardest place to grow up’ label

Teesside town has come out worst in children’s commissioner’s report, but residents say such rankings are demoralising and counterproductive “It’s disappointing, it’s just another kicking,” said a youth worker after the town in which they work was labelled as the hardest place in which to be a child in England. “It suggests our children are living unhappy lives,” said a teacher, who described her pupils as joyful. Continue reading...

Bust companies revived in ‘phoenix’ deals more likely to fail again, study finds
The Guardian·

Bust companies revived in ‘phoenix’ deals more likely to fail again, study finds

Exclusive: research for the Guardian shows ‘pre-pack’ deals with former management also pay far less to creditors The boss whose twice-bust business appears to be back Insolvent businesses reacquired by their previous management in “pre-pack” administrations are much more likely to fail again and tend to repay far less to creditors, research for the Guardian suggests. The study is the latest to raise questions about the practice of “phoenixism” – accounting’s controversial art of liquidating companies to allow directors to return with a new entity, free of debts. Continue reading...

The boss whose twice-bust business appears to be back despite £3m debts
The Guardian·

The boss whose twice-bust business appears to be back despite £3m debts

Andrew Woosnam took millions from his recruitment firms before creditors, including HMRC, were left out of pocket Companies revived in ‘phoenix’ deals more likely to fail, study finds For three decades, the recruitment industry treated Andrew Woosnam well. Having learned his trade during the 1990s, he graduated to create his own firm at the turn of the millennium – which allowed him to bank millions of pounds in salary, dividends and loans and to buy assets including a grand house in Berkshire once owned by the comedians Dawn French and Lenny Henry. Continue reading...