MSI Group Limited (06019984): administration
- Status
- Administration ended
- Administration began
- 2025-07-09
- Administrators
- Engin Faik
- Administrators' firm
- Cornerstone Business Turnaround and Recovery
- Incorporated
- 2006-12-06
- Location
- Enfield
- Industry
- 78109 Other activities of employment placement agencies
Why it went into administration
- Sustained trading losses
- Rising costs / inflation
- Creditor pressure / legal action
From the administrators' statement
For over 20 years, the Company specialised in supplying healthcare professionals on a temporary, contract and permanent basis to NHS Trusts, private sector organisations and other healthcare providers.
MSI grew into one of the UK’s leading healthcare recruiters and had won many awards, including an accreditation from the Sunday Times Best Companies 2020.
MSI's fortunes changed during the course of the year ended 31 March 2024 when the Company began to experience a marked decline in turnover, driven primarily by a change in governmental policy, which imposed restrictions by the NHS on agency staff expenditure. These measures, which included strict hourly pay caps and ceilings on total agency spend, substantially reduced the demand for the Company’s services and placed significant pressure on margins.
Administrators' statement of proposals (2025-09-04) · Companies House register