The Rushden-based company, situated in Northamptonshire, recently issued a notice of appointment to appoint administrators, seeking legal assistance from Womble Bond Dickinson.
Concerns arose as MCE’s financial accounts remain overdue, with Companies House reporting the accounts as outstanding for the period up until May 31, 2022. Adding to the growing unease, several directors have recently resigned from their positions within the firm in the preceding months.
Reviewing the latest available accounts of MCE Insurance Limited, covering the period until December 31, 2020, one would find a company in a robust state. The company showcased an impressive turnover of £36.8 million for the year, with directors expressing confidence in their ability to expand further by capitalizing on new opportunities in the insurance market. Profits for the year nearly doubled in comparison to 2019, reaching a commendable £7.3 million.
At the close of 2020, shareholders were pleased to receive dividends amounting to nearly £10 million. During this period, MCE Insurance Limited boasted a workforce of approximately 220 dedicated employees.
