Half-a-million UK firms ‘financially distressed’ and thousands face insolvency as they ‘pin hopes’ on rate cuts April 26, 2024 Nearly half a million UK businesses continue to face 'financial distress,' new research finds, with tens of thousands facing the possibility of insolvency within the next 12 months.
Deal agreed to sell 235-acre failed Britishvolt site to US private equity giant Blackstone April 15, 2024 A deal has been agreed to sell the site of failed EV battery business Britishvolt in Northumberland to a US private equity giant.
Begbies Traynor shares defy market slump to rise five per cent following good results February 23, 2021 Begbies Traynor defied London’s market slump today, with shares rising five per cent following encouraging results. In a Q3 update the professional services firm said it was “confident” of the outcome of its full year results, although it gave no actual figures. The business has enjoyed something of an acquisition spree this year. Earlier this [...]
Nightmare before Christmas? Nearly 4,500 UK retailers are in ‘critical financial distress’ December 21, 2023 Nearly 4,500 UK retailers are in “critical financial distress” during the sector's ‘Golden quarter’ due to weak Christmas sales performances.
Begbies predicts double-digit growth as insolvencies rise November 20, 2023 Begbies Traynor Group predicted double digit growth in both revenue and profitability, as the number of insolvencies continues to rise on tough market conditions. The company has not published any financial results but states it expects its revenue and adjusted operating profit to increase by 13 per cent. Last year, the company reported £58.5m in [...]
Bankruptcy specialists prepare for boom as economic headwinds hit UK firms December 13, 2022 Corporate restructuring specialists Begbies Traynor and FRP Advisory are expecting a boom in demand for their services in the oncoming economic slump. The advisory businesses are expecting to profit from a surge in insolvencies as worsening economic headwinds start sinking more UK firms. Begbies Traynor’s executive chairman Ric Traynor told City A.M. the consultancy stands [...]
D-Day for Worcester Warriors as deadline looms for rugby club May 2, 2023 It is D-Day for former Premiership rugby club Worcester Warriors with the deadline between the proposed owners Atlas Consortium and administrators Begbies Traynor set to expire today. The administrators, who took over the club in September, swapped contracts with Atlas – led by former Worcester chief executive Jim O’Toole and ex-player James Sandford – on [...]
Worcester Warriors set to lose P Share amid sale to Atlas Consortium April 25, 2023 Troubled former Premiership rugby club Worcester Warriors are set to lose their “P Share” imminently, even if their sale is finalised next week, say administrators. The side’s future has been in doubt since entering administration in September, and preferred bidder the Atlas consortium has been told it must complete a buyout by 2 May. In [...]
Exclusive: Home REIT’s biggest tenant dished out £1.2m to bosses before bankruptcy March 27, 2023 The three bosses of Home REIT’s now-bankrupt biggest tenant pocketed over £1.2m last year even as the firm struggled to pay rent and slumped to a multi-million-pound loss, City A.M. can reveal. Gurpaal Judge, the chief of Wolverhampton-based social housing provider Lotus Housing, hiked his own and two directors’ pay to £1.2m in 2022 – [...]
Paperchase: Struggling stationery chain expected to appoint administrators today – reports January 31, 2023 Paperchase, the high street stationery retailer, is believed to be on the verge of appointing administrators. The chain store’s parent company is reportedly in the process of bringing in insolvency practitioners from Begbies Traynor, according to Sky News. Paperchase’s shareholders are still holding out for a buyer but rumours are they are looking for a [...]