The Week in Business: Reeves tries to rescue the non-doms January 24, 2025 It’s a funny old world when the pleas of pensioners, farmers and shopkeepers fall on deaf ears but a Labour chancellor flies to Davos to break the news that she’s “listened to the concerns of the non-dom community” – and will be watering down her assault on their tax arrangements. Let’s take a look at [...]
Firms finding it ‘almost impossible’ to survive after Labour tax hikes January 24, 2025 Less than three months after the Budget, critical financial distress for UK businesses climbs by 50 per cent, with the construction sector leading the table
Retail’s Christmas results don’t match up to the gloom in the market January 17, 2025 If you were to judge the health of the retail market solely from the last two weeks of festive trading results, you would think the market is in rude health. But that would be a significant departure from the actual sentiment in the market, which has taken on a sense of almost unrelenting gloom in [...]
Retail insolvencies set to surge as Budget bites, experts warn December 30, 2024 A wave of insolvencies could be coming to the retail and hospitality sectors next year as businesses crumble under the tax bill brought on by Labour’s Budget, bosses have warned. Insolvencies and restructuring could rise further over the start of 2025 as firms face increased cost pressures, industry experts have said, with the retail, hospitality [...]
UK retail sector faces mounting pressures after Budget, warns Begbies Traynor December 27, 2024 UK retailers in critical financial distress has surged by more than 25 per cent, marked by weaker-than-expected retail sales and Budget uncertainty
Debts to go unpaid after collapse of Simon Rimmer’s restaurant chain December 12, 2024 How much the well-known restaurant chain co-founded by celebrity chef Simon Rimmer owed when it collapsed into administration has been revealed for the first time. Vegetarian restaurant Greens first opened its doors in Didsbury, Manchester, in 1990 but was forced to close in January 2024. That closure was followed by the chain’s other site in [...]
More companies to follow Homebase and Typhoo Tea into administration following Budget, warns Begbies Traynor December 10, 2024 More UK companies will crash into administration following the tax hikes announced in Labour’s Budget at the end of October, according to Begbies Traynor. Announcing its half-year results to the London Stock Exchange, the Manchester-headquartered group said “UK insolvencies remain at elevated levels” and that it expects “continuing growth” in its business recovery division as [...]
Analysts say Frasers ‘was right’ about Mulberry as it faces long road to recovery November 19, 2024 Analysts have painted a grim picture for the future of British luxury fashion brand Mulberry, which announced its half-year results this morning. It implied job cuts with talk of “streamlining” the business, and told markets that retail sales and revenue dropped 17 per cent and 19 per cent, respectively. Its share price fell 10 per [...]
Why a 24 per cent drop in insolvencies is not all it seems November 19, 2024 At first glance, the Government’s new figures on insolvencies appear cheery, with the number of companies going bust over the last year down 24 per cent, from 2,293 to 1,747. But analysts have suggested figures may have more to do with falling interest rates than the general health of the economy, in addition to warning [...]
Insolvencies set to rise as Budget hikes business costs, Begbies Traynor warns November 18, 2024 A combination of elevated interest rates and higher business costs resulting from the Budget is set to lead to a spike in insolvencies, Begbies Traynor has warned. In last month’s Budget, Chancellor Rachel Reeves increased the amount employers have to pay in NICs by 1.2 per cent, and lowered the wage threshold at which employers [...]