Computer says no: Frustrated businesses screaming for fresh cash struggle to get bank loans November 14, 2022 Three-fifths of small and medium-sized enterprises (SMEs) said that they currently need funding to ease day-to-day cashflow issues, according to research by asset manager Channel Capital out this morning. However, those businesses increasingly struggling to get loans from high-street banks, the survey found. And more than two thirds of SMEs reported that they need funding [...]
Wood Group forks out £97m to settle historic litigation case November 14, 2022 John Wood Group and its energy subsidiary Amec Foster Wheeler Energy are to fork out $115m (£97.6m) to settle a legacy litigation case with US energy services provider Enterprise. All parties have agreed on the settlement fee, which will be paid in one instalment within the next week, Wood Group announced this morning. Enterprise filed [...]
S4 Capital revenues jump despite tech slowdown November 14, 2022 Investors in S4 Capital saw a much-needed boost in share price today after the London-listed firm appeared to dodge the wider tech turmoil. The brainchild of WPP founder Sir Martin Sorrell revealed that like-for-like gross profit climbed over 29 per cent to £249.9m in the third quarter, with “whopper” client projects bolstering the company’s results. [...]
Administrators make millions from Debenhams’ demise November 14, 2022 Debenhams‘ administrators have made millions in fees since the department store went under in 2020. According to reports from The Times, FRP Advisory has made more than £7.2m in fees since Debenhams filed for insolvency The administrators managed the sale of the store’s brand and website to Boohoo for £55m in January 2021, and documents reveal [...]
Joules calls in administrators as rescue talks collapse November 14, 2022 Fashion and lifestyle firm Joules announced it had called in administrators and suspended trading on the London Stock Exchange this morning after emergency rescue attempts failed last week.
Cake Box says sales slowed as summer sun slices profits November 14, 2022 The hot weather and cost living sliced into Cake Box’s trading success in the last six months, as the premium cake maker struggles to keep up with strong comparators. Although group revenues were up a humble 2.1 per cent to £16.8m, EBITDA and pre-tax profit plunged over 32 per cent as cost pressures start to [...]
Euromoney clears regulatory hurdles for £1.6bn takeover November 14, 2022 Financial publishing firm Euromoney Institutional Investor said on Friday it had cleared the regulatory and antitrust hurdles needed to complete its £1.6bn takeover by Becketts Bidco.
Insulating homes could cut gas imports more than North Sea drilling, says green body November 14, 2022 Insulating the UK's entire housing stock could reduce gas demand by 20 per cent according to new research from the ECIU.
SMEs fear ‘cliff-edge’ energy bills in April, warns British Chamber of Commerce November 13, 2022 Nearly half of SMEs fear they will not be able to pay their energy bills once the Government’s support package ends next March, warns BCC.
Winds of change at Clipper Ventures as owners put it on the market November 13, 2022 The owners of Clipper Ventures will step back from running day-to-day operations as they look to put the company up for sale. Founded in 1995, Clipper Ventures is the organisation behind the Clipper Round the World Yacht Race, one of the most famous amateur sailing competitions in the world. The race restarted in March following [...]