Andrew Woosnam, a recruitment industry veteran of three decades, has experienced a dramatic reversal of fortune. Having built a successful career that generated substantial personal wealth through salary, dividends, and business loans, Woosnam owned 99% of Premier Group Recruitment, an award-winning firm that appeared financially sound just a few years ago.
The company entered administration in September 2025 with debts exceeding £2.9m, including £647,000 owed to HM Revenue and Customs. Rather than closing, the business was quickly acquired through what is known as a pre-packed administration by a successor entity, PGGBR Ltd, also under Woosnam’s ownership. The transaction involved an initial £10,000 payment with promised monthly instalments of £25,000 over two years. However, these promised payments were never materialised, and the new company accumulated an additional £400,000 tax debt.
Before the second entity entered liquidation last month, Woosnam had extracted significant sums from both companies, including a £1.2m director’s loan from the original Premier Group and approximately £2m in dividends since 2022. Additionally, he received a further £200,000 director’s loan from the phoenix company. Creditors, including the UK taxpayer, are now pursuing his three-hectare Berkshire property, purchased for £2.2m in 2013, to recover the combined £3m in outstanding debts.
Notably, a third recruitment operation called Xpertis Talent was established in July 2026, employing at least eight former Premier Group staff members. The new venture bears striking similarities to its predecessors in branding and operations. While Woosnam does not formally appear as a shareholder—the company is registered to an individual based in Thailand—his potential involvement remains unclear. The situation raises questions about the effectiveness of insolvency protections against business succession strategies.
Article Attribution | Read More at Article Source
Article summary produced by Claude AI