Vantis

Vantis plc was an accountancy firm based in London, England, providing accounting, tax and business advice to owner-managed businesses, listed companies, not for profit organisations, high-net-worth individuals and other professionals. It was placed in administration on 29 June 2010 and promptly broken up, with the various offices and businesses being sold as going concerns.

Vantis was formed as a "consolidator", inviting existing small local accountancy partnerships to join it and become part of a national company. It was listed on the Alternative Investment Market (AIM) in May 2002.

In 2005 it took over struggling competitor Numerica, selling some of the offices to BDO Stoy Hayward. Numerica was one of the first consolidators, led by former firm Levy Gee; at a time when audit work was restricted to partnerships, it was the first publicly listed company to employ staff part-time who also did audit work for an associated partnership. Numerica had been the UK member of the global accountancy network HLB International since 2002, so Vantis succeeded as the UK member of the network.

As of 2010 Vantis was ranked the 13th largest accountancy firm in the UK by Accountancy Age.

However, by February 2010 its work as liquidator of Stanford International Bank raised doubts as to whether it would receive payment for the high-profile appointment.

In June 2010, Vantis was reported to be considering disposals of part of its business to reduce its bank loans, although the company declined to confirm this. Paul Jackson then resigned as Chief Executive on 12 June, and on Monday 14 June Vantis' shares were suspended due to uncertainty over its financial position.

Vantis entered administration on 29 June 2010, and on the same day substantially all of its businesses were sold by the administrators, FTI Consulting. Most of the business recovery arm was sold to its own management in a management buy-out for £11 million, resulting in the creation of a new business - FRP Advisory LLP. Rival consolidator RSM Tenon bought Vantis Financial Management, one business recovery office and three business advisory and tax offices for £4.46 million. The remaining business advisory and tax offices were sold separately to the local partners, and various small specialist businesses were also sold.

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