UK Steel crisis: Industry in showdown with European ministers as top bosses march in demonstration February 15, 2016 The European steel industry and governmental ministers are set for a showdown later today over how best to implement higher tariffs on foreign steel imports. Industry leaders are demanding that more is done to help Europe's steel sector survive, while European ministers claim removing the so-called lesser duty rule, which seeks to apply the lowest possible [...]
Almost 270,000 UK companies ended 2015 with financial problems, according to insolvency specialists Begbies Traynor January 14, 2016 Things can only get better, at least that's what UK companies will be hoping: there was a 17 per cent increase in the number of firms who finished last year in "significant" financial distress, according to the latest data. In the last quarter of 2015, 268,898 UK businesses reported financial problems, up from 229,232 in the same period [...]
Retailers sound alarm bells after one of toughest Christmas periods on record January 13, 2016 UK retailers have suffered one of their worst Christmas trading periods on record, according to new research showing a surge in the number of companies struggling to make ends meet. Turnaround specialist Begbies Traynor said 26,013 UK retailers entered the year in significant financial distress – nearly double the amount recorded in the fourth quarter [...]
UK retailers scramble to rescue Christmas as distress levels rise amid fierce discounting December 22, 2015 High street retailers have suffered a disappointing Christmas so far this year amid fierce competition and the rise of online, Begbies Traynor has warned, with retailers now pinning their hopes on a last-minute sales spree this week. According to the insolvency specialist's latest Red Flag research, which monitors the health of UK companies, the number of retailers now suffering [...]
FTSE 100 closes down as Sports Direct struggles – London Report December 11, 2015 Gains for Glencore couldn’t keep the FTSE 100 up last night as both Sports Direct and Old Mutual fell hard. The index closed 0.63 per cent down at 6,088. Sports Direct slumped after Mike Ashley’s retailer posted poor first-half results and the company was criticised for staff conditions. Group revenue ticking up 0.1 per cent [...]
At the close: FTSE 100 index closes down on Sports Direct, Old Mutual December 10, 2015 The FTSE 100 index slid in Thursday's trading despite gains by Glencore as both Sports Direct and Old Mutual tumbled. The index closed 0.63 per cent down at 6,088 points. Sports Direct slumped after Mike Ashley's retailer posted underwhelming first half results and the company was criticised for staff working conditions. Group revenue ticking up 0.1 per cent to £1.43bn, [...]
Sports Direct share price falls as Mike Ashley’s retailer posts underwhelming first half results December 10, 2015 Sports Direct's share price fell this morning after reporting underwhelming first half figures. The figures The Mike Ashley-owned retailer had a solid six months to 25 October, with group revenue ticking up 0.1 per cent to £1.43bn, while underlying pre-tax profit rose 3.6 per cent to £166.4m and EBITDA rose 7.6 per cent to £218.5m. [...]
Begbies Traynor sees profits plummet to £0.6m amid difficult insolvency market December 9, 2015 Business recovery and property services consultancy Begbies Traynor today revealed profit before tax of £0.6m for its six months ended 31 October 2015, plunging from £1.5m for the same period last year. However, revenue for the company increased to £25.5m for the period, up from £20.8m in 2014. The company noted that the financial performance was in [...]
Restaurants and bars get their appetite back following Rugby World Cup 2015 boost October 26, 2015 The Rugby World Cup and greater consumer spending power thanks to falling food and petrol prices provided a much needed boost to UK bars and restaurants during the third quarter of the year. According to Begbies Traynor’s latest Red Flag update, which monitors the health of UK companies, the number of restaurants and bars experiencing “significant” [...]
UK grocery sector shows green shoots of recovery as distress levels fall October 19, 2015 Britain’s supermarket sector is showing signs of recovery, according to new research from Begbies Traynor that reveals the number of companies struggling to stay afloat declined for the first time in over two years. The business recovery specialist’s latest Red Flag Alert research, which monitors the health of UK companies, shows levels of “significant” financial [...]