Insolvent UK recruiter acquired by previous owner who took millions out

Premier Group Recruitment, a UK recruitment agency, has gone into administration with debts totaling £2.9 million, including a significant tax liability of £647,000. The company was acquired for just £10,000 by a venture set up by its previous owner, who had taken millions from the business in its last three years. This situation raises concerns about the ethics of business practices and the impact on employees and creditors, highlighting the challenges faced by the recruitment industry in the current economic climate.