Berkeley Berry Birch plc (BBB) is a company, formerly listed on the
London Stock Exchange, which collapsed in 2006 and which is now in
Administration.
Reverse takeover
The firm was originally called ''Berry Birch & Noble'', an old insurance broking firm that had got into trading difficulties, but changed name to ''Berkeley Berry Birch plc'' following a
reverse takeover in 2002 by
Clifford Lockyer's ''Berkeley Group'', a privately held firm of
independent financial advisers (IFAs) in
Coventry. Lockyer wished to float his firm on the stock market and the reverse takeover of the ailing Berry Birch & Noble enabled him to do so more easily and cheaply than through a traditional flotation.
Subsidiaries
The firm had a number of subsidiaries, including:
*Berkeley Independent Advisers Ltd.
*Berkeley Berry Birch Group Support Services Limited
*Berry Birch & Noble Financial Planning Limited
*Berry Birch & Noble Financial Planning (Weston) Limited
*Berry Birch & Noble Insurance Brokers Ltd.
*Berry Birch & Noble Trustees Ltd.
*MacRobins plc
Trading problems
Problems emerged soon after the float, however, including poor trading and a
Financial Services Authority
The Financial Services Authority (FSA) was a quasi-judicial body accountable for the financial regulation, regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investmen ...
investigation into business practices at the IFA subsidiary Berkeley Independent Advisers, problems within former Berry Birch & Noble firms
[ and a general lack of capital which caused FSA regulations to be breached.][http://www.birminghampost.net/birmingham-business/tm_objectid=16576109&method=full&siteid=50002&headline=push-to-save-500-jobs--name_page.htmlRetrieved 12 August 2010]
Administration
By 2005 the company's shares were suspended and the firm went into Administration in 2006.
See also
*Clifford Lockyer
Clifford Philip Lockyer (born September 1949) is a British businessman who is the former Chief Executive of the now defunct Berkeley Berry Birch plc (BBB) financial services group which collapsed in 2006 after a shortall in its capital adequacy of ...
* Clive Holmes
References
External links
Company profile at northcote.co.uk
{{DEFAULTSORT:Berkeley Berry Birch Plc
Companies formerly listed on the London Stock Exchange
Companies based in Coventry