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Simon Thomas and Fred Satow of Moorfields Corporate Recovery LLP have been appointed Joint Administrators over The Cape of Good Hope (Bridgnorth) Limited. The rural country pub near the village of Bridgnorth in Shropshire accommodates over 100 covers in its gastro pub style restaurant. The pub had been suffering from a fall in trade since December 2010 as a result of the basd weather and rise in VAT. With the assistance of a specialist management company, Moorfields have allowed the business to continue to trade and are currently marketing the business with a view to achieving a sale as a going concern. Any interested parties should contact Moorfields Corporate Recovery on 0208 528 1090. Moorfields Corporate Recovery LLP is one of the UK's leading independent firms of restructuring and insolvency specialists.

Moorfields Corporate Recovery expect the housing market to remain slow, as the number of mortgages approved for house buyers by UK banks fell by 10% in 2010.

Economists were expecting the economy to remain stable in the last quarter of 2010, few were anticipating the shock 0.5% decrease recently revealed. The latest GDP figures released by the office of National Statistics (ONS) have raised concerns over prospects for the economy in 2011.

Lively seaside Inn goes into administration following tough market conditions before Christmas. Simon Thomas and Fred Satow of Moorfields Corporate Recovery LLP have been appointed administrators to Trojan Taverns t/a York House Inn. The seaside pub based in West Somerset was bought by Trojan Taverns in 2007 and has been operating as a 15 room hotel, restaurant and bar. A statement by the administrators has said: “ The licensed trade sector has faced a tough couple of months following the bad weather before Christmas and the recent rise in VAT many publicans will need to remain proactive to ride out the storm”. Simon Thomas joint administrator said “We are currently exploring the possibility of a phased reopening using a specialist management agent with a view to achieving a sale as a going concern”. Any creditors or interested parties should contact Moorfields Corporate Recovery for further details. Moorfields Corporate Recovery LLP is one of the UK's leading independent firms of Restructuring and Insolvency specialists.

Retailers are set to be hit hard in 2011 as a result of the increase in the standard rate of VAT from 17.5% to 20% as the government looks to boost tax revenues to cut the UK’s debt levels. The rise which came into force on 4th January 2011, will affect any VAT registered firm that buys or sells goods or services that are subject to the standard rate of VAT. The majority of food products, children’s clothing, newspapers and magazines will continue to be zero rated. Research by the Centre for Retail Research and online shopping group Kelkoo has suggested that retail sales will fall by about £2.2bn in the first three months of the year as a result of the rise. Shoppers are unlikely to feel the effects immediately as retailers are likely to absorb the costs as part of the January sales. Phil Smith, Partner Moorfields “Retailers have had a tough time in 2010, especially towards the end of the year, when an expected increase in sales prior to the VAT increase was anticipated only to be over shadowed by the severe weather. The first three months of 2011 does not look to show a more positive outlook, the combination of the VAT rise, coupled with the public sector cuts means retailers are fearing the worse.” If you feel your business could suffer as a result of the VAT increase and would like some independent advice please contact Moorfields Corporate Recovery LLP on 0208 528 1575. Moorfields Corporate Recovery LLP is one of the UK's leading independent firms of restructuring and insolvency specialists. Its clients range from small businesses and SME's to major multinationals.