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Venger

Rsm Tenon

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They've been quoted in stories at HPC a few times, two examples below.

They were just 'Tenon' in 2009/10, prior to a merger.

Tenon announced in December 2009 that it was merging with RSM Bentley Jennison in a £76 million deal. At the end of June 2010, RSM Tenon paid £6.8 million to acquire several offices from rival consolidator Vantis when the latter entered administration and was broken up. The acquired businesses had a turnover of £27 million in the preceding year, and contributed to a 31% increase in turnover for the year ended June 2011.

To the news bit:

http://www.ftadviser...fJ/article.html or if that link doesn't work http://www.thejourna...m-tenon-5836165

Not sure how the administration impacted shareholders who, wanted more, and landlords. "Landlords should allow lower rents or shorten leases because the alternative could be zero rent receivable in case of administration."

Yesterday debt experts insisted the figures prove that although the recession is over, its impact is only now emerging as unemployment rises and pay remains frozen.

Mark Sands, director of personal insolvency at the accountants RSM Tenon, said: 'We are seeing the impact of the downturn really starting to hit now.

'It is not necessarily that people have lost their job, but they have lost their overtime, an extra shift or have had a pay cut.

'They can survive for a while, but suddenly they are tipped over the edge and they cannot cope with their debts.'

One Store In Eight At Risk Of Collapse

Experts fear Christmas will be one of the hardest in decades. Figures from accountancy firm RSM Tenon show 861 more retailers joined the critical list in the last six months, which means they may struggle to pay bills. Almost 9,000 retailers are at risk of 'imminent insolvency' – an eighth of the sector. Shops selling bulky, expensive items like furniture are most vulnerable. Quarterly rents due at the end of the month could prove the tipping point.

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They've been quoted in stories at HPC a few times, two examples below.

They were just 'Tenon' in 2009/10, prior to a merger.

Tenon announced in December 2009 that it was merging with RSM Bentley Jennison in a £76 million deal. At the end of June 2010, RSM Tenon paid £6.8 million to acquire several offices from rival consolidator Vantis when the latter entered administration and was broken up. The acquired businesses had a turnover of £27 million in the preceding year, and contributed to a 31% increase in turnover for the year ended June 2011.

To the news bit:

http://www.ftadviser...fJ/article.html or if that link doesn't work http://www.thejourna...m-tenon-5836165

Not sure how the administration impacted shareholders who, wanted more, and landlords. "Landlords should allow lower rents or shorten leases because the alternative could be zero rent receivable in case of administration."

Obviously couldn't charge enough fees to do administrations themselves (i.e. very little value left in the firms where they were acting as administrators :o)

The usual tactic of screw the creditors in action (banks and commericial landlords so no tears though)

Edited by koala_bear

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Obviously couldn't charge enough fees to do administrations themselves (i.e. very little value left in the firms where they were acting as administrators :o)

The usual tactic of screw the creditors in action (banks and commericial landlords so no tears though)

Doesn't seem appropriate them handling their own administration anyway, even if that's allowed. Although it must be quite demoralising, when you've done it time over for other companies, and then facing doing your own.

The bank has only taken a partial write-down of debt, with what appears a substantial debt for the new owners to keep servicing. Yes; but still some out there are point to comm-prop investments, or funds, being good value. Seems there is some way to go to me.

Looks like the it will be integrated and Baker Tilly seek to challenge for business aside its competitors as a middle 3 firm, as it talked about a growth drive in 2011. There was something else, but I can't find the source.

He said: "People are used to the 'big four' [PricewaterhouseCoopers, Deloitte, Ernst and Young, KPMG], and what we have seen begin to appear more is the emergence of the 'middle three'."
Edited by Venger

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