Recruitment to recruitment firm Heywood Associates Limited has restructured following a spell in liquidation caused by six-figure bad debts.

The London-based recruitment agency filed for voluntary liquidation on 19 November. But its directors have now reacquired the company’s name and goodwill.

Director Simon Gee (pictured) explained: “During 2002 and early 2003, Heywood Associates Limited suffered substantial six-figure bad debts following the liquidation of a number of clients both in the UK and overseas. Although profitable on a month-by-month basis, the business struggled to meet its ongoing obligations.”

The new company will also have an executive search recruitment division, Heywood Search.