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A recruitment company that collapsed with nearly £3 million in debts — including hundreds of thousands owed to the UK tax authorities — has been revived by its former owner, who is now offering employees the chance to earn an all-expenses-paid trip to Las Vegas.
Premier Group Recruitment entered administration in September with total liabilities of £2.9 million. Among its creditors was HM Revenue and Customs (HMRC), which was owed £647,000 and had already initiated enforcement action against the company.
Just three days after the collapse, the firm’s assets were purchased by a newly formed company, PGGBR Ltd, established by Andrew Woosnam, who previously held a 99% stake in Premier. The acquisition was made for an initial payment of £10,000, alongside an agreement to pay £25,000 per month until September 2027 — bringing the total deal value to £610,000.
Freed from the former company’s debts, the new business has launched an energetic recruitment campaign on social media. In a LinkedIn post, it announced an “END OF YEAR TRIP 2026,” promising consultants who meet their performance targets an all-expenses-paid experience in Las Vegas. The company stated it would cover flights and accommodation, offering staff “unforgettable experiences” at “zero cost, just results.”
However, the circumstances surrounding the company’s collapse have raised concerns. Prior to administration, Woosnam had borrowed £1.2 million from Premier through a director’s loan. Reports suggest this outstanding amount increased by £265,000 after the company’s 2024 financial year, during which it acknowledged “substantial doubt” over its ability to continue operating.
Additionally, Premier’s 2022 and 2023 accounts show that shareholders received £1.95 million in dividends during that period.
The restructuring appears to fit the pattern commonly referred to as “phoenixism,” where a company enters liquidation and its directors subsequently restart the business under a new entity, free from previous debts. While the practice is generally legal, HMRC has previously expressed concern over its impact, estimating that phoenixism contributes significantly to billions in annual tax losses.
Administrators Rob Keyes and David Taylor of KRE Corporate Recovery oversaw the sale. They declined an alternative bid from another party that reportedly included £321,000 in upfront cash plus potential royalty payments worth an additional £110,000.
The administrators have previously indicated they expect to recover around half of the outstanding £1.2 million director’s loan.
Neither Woosnam nor the administrators responded to requests for comment regarding payments made to creditors following the administration process.
