Recruiter who was allowed to buy back his insolvent firm falls behind on payments after offering staff Vegas trip
A recruiter who bought back his insolvent firm has fallen behind on payments after promising staff a trip to Las Vegas. The case highlights concerns about 'phoenixism', where companies are liquidated and restarted under new entities to avoid debts. Critics argue that this practice raises moral questions, especially when significant amounts are extracted before insolvency.
- ▪Premier Group Recruitment went into administration with debts of £2.9 million, including £647,000 owed to HMRC.
- ▪Andrew Woosnam, the company's 99% shareholder, bought back the assets and promised to pay £600,000 in installments.
- ▪The new company has struggled with startup costs and has fallen behind on its payment obligations.
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The recruiter’s case raises questions about ‘phoenixism’, the practice of liquidating companies and restarting under a new entity free of debt. Photograph: Tero Vesalainen/AlamyView image in fullscreenThe recruiter’s case raises questions about ‘phoenixism’, the practice of liquidating companies and restarting under a new entity free of debt. Photograph: Tero Vesalainen/AlamyBusinessRecruiter who was allowed to buy back his insolvent firm falls behind on payments after offering staff Vegas tripPremier Group Recruitment went into administration with debts of £2.9m – including £647,000 owed to HMRCSimon GoodleySun 31 May 2026 02.00 EDTLast modified on Sun 31 May 2026 02.02 EDTSharePrefer the Guardian on GoogleA recruitment executive – who was allowed to buy back the assets of his bust…
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