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Business briefing · Sunday, October 25, 2026 · Morning edition · Story 3 of 5
Recruitment firm boss revives business despite £3m debts
Andrew Woosnam's recruitment firm has revived despite £3m in debts, having previously taken millions from his companies. His business was revived through 'phoenix' deals, which studies suggest are more likely to fail.
Why it matters: The situation highlights concerns about the use of phoenix deals in the recruitment industry and the financial risks involved for creditors.
Sources: The Guardian Business
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