News - Midlands
Graves bought out of administration
Corporate-recovery experts at Begbies Traynor have successfully sold a business out of administration to keep a Birmingham family business name alive. New business the Francis Graves Partnership has emerged from property consultancy The Graves Partnership, which went into administration on the appointment of Nigel Price and John Kelly of Begbies Traynor as joint administrators in early October.
The new owner is Henry Riley, a construction consultancy and part of Riley Consulting, a multidisciplinary construction and property consultancy consisting of ten businesses that share ownership and management with more than 180 staff across the UK. The deal saves the jobs of the remaining ten employees of The Graves Partnership in Birmingham.