New Neil Stewart company emerges from administration

UK conference organiser Neil Stewart Associates has emerged from administration under the name Neil Stewart Events (NewCo).

The administrator Duff & Phelps claims to have sold all the assets and saved 20 jobs at the company that organises over 200 events a year.

Andrew Stoneman and Matt Bond, of Duff & Phelps were appointed as joint administrators for the company 5 March and completed the sale on 15 March.

Stoneman described the developments as “a great result for all parties, securing the jobs of its employees”.

The planned programme of conferences could continue to go ahead as normal, he added.

The company, founded in 1994, organises many conferences and events for the public sector.

It has managed events in the House of Lords and was due to host a conference this month there on the theme ‘Women and Water’.

Neil Stewart Associates won Best Sponsorship Initiative at the Conference Awards 2011.

Neil Stewart remains Chief Executive of the new trading company and the majority shareholding is now with investment vehicle Tota Investments. He said he was “pleased for the staff and for the clients”.

Last year NSA signed a company voluntary agreement (CVA) with reported debts of £1m. That allowed it to keep trading, at least until 5 March 2012.

HMRC was reported to be the largest single creditor, owed £123k. with several major UK venues owed five-figure sums.

The company had made a large investment in Policy Review TV for live online conferences.

Do you have news for CN? Email: pcolston@mashmedia.net

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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