LONDON — In a stunning testament to the resilience of British entrepreneurship, recruitment executive Gavin Mansell successfully vaporized £2.8 million in corporate debt by buying back his own collapsed firm, only to expertly pilot the reborn ‘Phoenix Talent Solutions’ into immediate liquidation just months later.

The controversial process known as ‘phoenixism’, or ‘corporate Lazarus-ing’, allowed Mansell to purchase all valuable assets of his original company for the low price of a handshake and a vague promise to pay later. ‘Phoenix Talent Solutions’, named after the mythical bird known for perishing spectacularly, was reportedly behind on repayments to administrator Glenda Callow by its second week in business.

“I definitely planned to pay something at some point, but nobody ever explained that meant actual money,” Mansell told reporters outside the burned-out shell of his brand-new headquarters. “I thought the phoenix thing was about getting as many tries as you like.”

Financial corruption analyst Rita Snipe commented, “At this point, we recommend companies just skip the paperwork and call themselves ‘Phoenix 2: The Reburning’ from the outset.”

Meanwhile, administrators say they are not shocked by the development. “After the third or fourth time a director rises from the ashes, it’s mostly just a smoky smell in the accounts ledger,” noted Callow, who now wears a fireproof suit to annual meetings.

Insiders report that Mansell is rumored to be launching ‘Phoenix Asset Revival Ltd.’ by the end of the week, with the slogan, ‘Trust us, this time it’s different.’