NEWS12 September 2011

Liquidation for George Street Research in Scotland

Financials UK

UK— Scottish market research and fieldwork agency George Street Research has gone into liquidation, Research has learned.

Accounting firm Johnston Carmichael in Edinburgh confirmed it had been appointed as liquidator but was unable to comment further today.

George Street was founded in 1989 by two former Taylor Nelson (now TNS) directors, Jo Fawcett and Sue Granville who were later joined by research director David Primrose (pictured).

The company employed around 15 people at its offices in Broughton Street, Edinburgh.

George Street offered qual and quant services to clients in the agricultural, financial, housing, leisure and media, tourism, transport and health and welfare sectors.

Financial documents for the year ending 31 March 2010 filed with Companies House show turnover down year-on-year from £1.1m to £975,000 and operating profit almost halving from £35,000 to £16,870. Profits for the year were £12,500.

A further search of Companies House revealed that a new company, Why Research, was registered on 9 September. Listed as directors are Fawcett and Granville and two former George Street employees, Neil Costley and Shona Mulholland.

Update: A previous version of this story listed Melissa Scott as part of the leadership team and a photo caption made reference to her as a director. Scott has been in touch to point out that this is incorrect. She was not a director, nor was she head of field and tab operations at the time of the company’s closure, though she was an employee. Apologies for any confusion.

Update 2: Added additional detail on Why Research and its directors.

@RESEARCH LIVE

9 Comments

9 years ago

I am - or I was - an interviewer with George Street Research and am owed several hundred pounds in pay and expenses. It seems I am not the only one either. I have a horrible feeling I am never going to see I am horrified that they can just close down and re-open as Why research in the blink of an eye without a care for what they have left behind. Why Research? Why Bother??

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9 years ago

Do you have any more info on who is behind Why Research, Anonymous? Are there senior directors from GSR involved as well as Costley? Otherwise it might just be that Costley has decided to set up in business himself, with no other links to GSR.

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9 years ago

Why Research has been set up by 4 Directors of George Street. I don't know how companies get away with doing this! I feel really sorry for people left being owed money. Hope clients and suppliers boycott this 'new business'.

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9 years ago

The new company incorporation report makes for interesting reading.

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9 years ago

My understanding is that, in these situations, employees (including field and telephone staff) should get what is owed to them. They might need to do some form filling but hopefully they won't lose out.

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9 years ago

It is a disgrace that a company can go into liquidation one day and the same day the directors can set up a new company doing the same type of work. Interviewers should think very carefully about undertaking any work for a company that has directors like this. They would have known for some time that George Street was struggling but were still booking out interviewers.

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9 years ago

the person who made the comment above is actually wrong. I am owed several hundred from them and I know others in the same boat. Yes we might get given our pay but even the company dealing with the liquidation have said that the expenses that we are all due is not so likely. so many pennies in the pound is what I was told. This is a totally sorry afair and us at the bottom of the pile are going to be the biggest loosers in it all. I and other folk who did the work for them in good faith wont be working for them in there new company unless we get all that we are owed to us.

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9 years ago

Hope this helps for those owed money, its from http://www.direct.gov.uk/en/Employment/Employees/Pay/DG_10026695 Who will pay you? There is no guarantee all debts and claims you make can be paid in full. There are special arrangements to make sure you receive a basic minimum of the debts owed from the National Insurance Fund. The Insolvency Service's Redundancy Payments Offices are responsible for paying the following claims: •redundancy pay •wages (including protective awards) •holiday pay •notice pay •basic award for unfair dismissal •unpaid pension contributions HMRC is responsible for continuing to pay the following payments you might be entitled to on or after the insolvency: •Statutory Sick Pay •Statutory Maternity Pay •Statutory Paternity Pay •Statutory Adoption Pay

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8 years ago

If they are now Why Research they should still pay us what we are due under this new name. Unless this name change is simply an excuse not to pay out??? Was George St folding a con? Did they only change their name?

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