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Today’s news in brief – 19/1/2024

Champion Accountants has achieved double-digit growth in 2023, with a 31% increase in audit revenues compared to 2022. The firm, with practices in Manchester, Chester, Preston, and Blackpool, attracts new audit clients, managing annual audits for businesses and charities. Mark Turner, audit partner, addresses the rising costs and skills gaps faced by businesses, emphasising Champion’s professional, timely, and budget-friendly audit services.

Interpath Advisory’s analysis of Gazette notices has revealed a 25% surge in companies entering administration in 2023, totaling 1,307 compared to 1,049 in 2022. The report attributes the increase to factors like price rises, slow growth, high interest rates, and fragile consumer sentiment affecting various sectors. Blair Nimmo, CEO of Interpath Advisory, acknowledges the financial challenges in 2023, predicting ongoing uncertainties in 2024 with geopolitical concerns and potential elections impacting businesses.

K3 Capital Group has appointed Lynsey Gregory as general counsel, responsible for providing legal leadership and advice across K3 and its subsidiaries globally. Gregory, a financial services litigation and regulatory expert with over 20 years of experience, previously served as the regional head of Litigation and Regulatory Enforcement for HSBC Bank Middle East Ltd. John Rigby, K3 Capital Group executive chairman, looks forward to Gregory’s support in the firm’s international expansion and acquisition strategy.

Evelyn Partners, administrators of W Series Limited, has announced an auction for certain assets of the motorsport racing series, including race cars, simulators, equipment, and containers. W Series, launched in 2018 to provide equal opportunities for women in motorsports, faced financial challenges, leading to the business hiatus. Joint administrators Kevin Ley and Henry Shinners initiated the auction to maximise returns for creditors after negotiations with potential buyers did not result in a concluded sale. Wyles Hardy and Co assist with the auction process.

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