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SFP Gives New Millennium Group A Fresh Start

SFP Gives New Millennium Group A Fresh Start

SFP, the nationwide insolvency practitioners, has completed a sale of recruitment firm the New Millennium Group Limited, saving the jobs of all 12 members of staff in the process.

Established in 1998, the New Millennium Group is a boutique executive search firm for the global financial and professional services industry and has offices in London, Boston, New York, Hong Kong, Tokyo, Singapore and Switzerland.

SFP’s Daniel and Simon Plant – both licensed members of the Insolvency Practitioners’ Association – were appointed joint Administrators of the company on 26th April 2012.

Daniel Plant, Group Partner at SFP, described the recruitment sector as having proved particularly vulnerable in the uncertain economic conditions of the past couple of years: “SFP has been appointed to assist a number of beleaguered recruitment firms.

“Fortunately for the New Millennium Group, which had encountered difficulties after seeing levels of demand for recruitment services in the banking sector drop, as well as issues around meeting its rent obligations, we were able to secure a sale of the business and its assets, thereby saving the jobs of all staff members.”

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