PGGBR Ltd, a recruitment company, has entered liquidation after reportedly failing to meet payment obligations for assets acquired from a previous business. The firm was founded by Andrew Woosnam, who was the 99% shareholder of Premier Group Recruitment, which went into administration in September 2025 with debts of almost £3m.
Woosnam's new company, PGGBR Ltd, acquired Premier's assets three days after the administration, making an initial payment of £10,000 and agreeing to pay a further £600,000 in monthly instalments. However, the company reportedly fell behind on these promised repayments, leading administrators to file an update with Companies House in March. Filings on Sunday confirmed PGGBR Ltd has now appointed a voluntary liquidator.
The situation raises further questions about the practice of "phoenixism," where directors liquidate companies to start new entities free of previous debts. While legal, HMRC estimates this practice costs UK taxpayers hundreds of millions of pounds annually. Research from the University of Wolverhampton and an EU-funded study indicates that insolvencies involving connected parties buying assets through future instalments tend to have poorer outcomes and a higher risk of buyer failure.
Woosnam reportedly made redundancies at PGGBR Ltd in July, with industry sources suggesting at least half his staff were affected. Sources also suggested those affected had not been paid and that Woosnam plans to launch another new company. Companies House records show he changed the name of a business from PGUSA to PGREC in June.