The sorry end of Manches

Manches’s takeover by Penningtons was not your usual merger. It was a pre-pack deal hastened by a tax demand from HMRC. For the full inside track on the mess Manches got itself into – including how much money it was really losing – read our investigative piece, below.

Manches: Life after debt

Revealed: Manches and Penningtons in advanced merger talks to create £60m firm

Revealed: Unpaid tax bills forced Manches’ administration

Who will rid us of the zombie firms?