Former Crystal Palace owner John Textor scores temporary block of Brazilian football club share sale Lawsuit Former Crystal Palace owner John Textor has been granted a temporary injunction from the High Court to block City-based administrators from selling his 90 per cent stake in Brazilian football club SAF Botafogo. The order follows the American business mogul launching multiple parallel lawsuits in England, the US, and Brazil against his UK holding company, [...]
Revealed: Natwest banked company used by MFS founder to ‘siphon off’ funds Banking Natwest provided banking services to a company allegedly used by the founder of collapsed property lender MFS to divert investors’ cash and “siphon off” funds, City AM can reveal. The bank held the day-to-day account for Twinwin, a company that was allegedly used by Market Financial Solutions founder Paresh Raja to generate fees from clients’ [...]
Nobel Peace Prize maker’s UK arm seeks administrator Business The London Mint Office, one of the largest numismatic distributors, is lining up administrators after 20 years in business. Founded in 2006, the company is part of Europe’s largest coin company, the Samlerhuset Group, based in the Netherlands. The UK entity acts as a major retailer for collectors, including specially minted items celebrating British royalty [...]
Burnham risks £4bn bill in Thames Water special administration July 19, 2026 Andy Burnham’s plans to push Thames Water into special administration could leave the taxpayer to foot a £4bn bill. The incoming Prime Minister is facing a crunch decision over how to deal with the struggling utility and is expected to use a special administration regime (SAR) to keep it running until a buyer is found. [...]
Financial services bankruptcies rise as MFS collapse ripples through sector July 13, 2026 The number of financial services companies entering administration spiked sharply in the first half of 2026 on the back of rising costs and the ripple effects of the collapse of mortgage provider Market Financial Solutions, according to a risk advisory firm. A total of 649 companies across sectors went under across the UK between January [...]
OpenAI’s proposed ‘Trump stake’ raises ‘governance overhang’ fears ahead of IPO July 2, 2026 OpenAI’s proposal to hand the US government a five per cent stake in the AI firm has triggered fears that the move could complicate a future public listing. The ChatGPT maker has discussed giving the Trump administration a five per cent equity stake as part of a broader proposal that would see America’s leading AI [...]
WH Smith made only £10m from sale of 500 stores May 10, 2026 Retail giant WH Smith made just £10m from the sale of its 480 high street stores to a private equity firm after already slashing its asking price. Private equity firm Modella Capital bought WH Smith’s high street locations in a £42m deal last year but is poised to launch an emergency restructuring as the stores [...]
WH Smith successor to shut 150 stores in ‘aggressive’ restructuring May 6, 2026 The owner of WH Smith’s former high street stores is set to shut as many as 150 of them as part of an “aggressive” overhaul which will put jobs at risk. Modella Capital bought the stationer’s 480 high street stores for £40m last year, and is now set to shut more than a quarter of [...]
Claire’s Accessories to launch UK high street comeback May 1, 2026 Collapsed jewellery chain Claire’s Accessories will return to British high streets next month after its stores were shuttered only days ago, according to reports. The budget accessories retailer is set to launch 50 new stores on UK high streets, in a comeback staged by the owner of its European stores. Claire’s shut its remaining stores [...]
Original Factory Shop closes all stores amid collapse April 16, 2026 The Original Factory Shop has closed all 137 stores and its head office, after the retailer collapsed into administration amid growing industry fears over weak consumer confidence and high taxes. The discount department store was put into administration along with Claire’s Accessories earlier this year, as private equity firm Modella Capital said government policy was [...]