The rollercoaster ride for creditors chasing bankrupt theme park investor Investing It was billed as Britain’s answer to Disneyland Paris. Unveiled in 2012, plans for the vast 900-acre theme park in Kent dazzled locals with boasts of building Europe’s largest indoor water park, a host of Mission Impossible-themed rollercoasters and the creation of 27,000 jobs. Hollywood giant Paramount ramped up the excitement, announcing it would be [...]
On this day: Enron files for bankruptcy Opinion On This Day in 2001, Enron, once considered America’s most innovative company collapsed, writes Eliot Wilson It’s hard to remember an economic boom now, but the last decade of the 20th century was exactly that for the United States. Annual growth was 3.5 per cent, the jobless total fell until there was nigh on full [...]
Claire’s on the verge of collapse with over 2,000 jobs at risk Retail Claire’s, the high street fashion accessories chain, is on the brink of collapse after revealing its intention to appoint administrators in the UK and Ireland in a move which would put over 2,000 jobs at risk. The business, which has 278 stores in the UK as well as a further 28 in Ireland, filed a [...]
Is Claire’s about to disappear from the UK High Street? August 6, 2025 Claire’s accessories has filed for bankruptcy in the US and entered administration in France, stoking fears about its presence on UK high streets. The US-based fashion accessories and jewellery business filed for Chapter 11 bankruptcy in a court in Delaware, according to new documents. Chris Cramer, CEO of Claire’s, said the decision was “difficult” but [...]
British investor eyes 23andMe rescue as it files for bankrupcy March 28, 2025 A major British investor is exploring a potential rescue plan for 23andMe, after the consumer genetics company filed for bankruptcy protection in the US. Richard Magides, director of Singapore-based Zentree Investments, and one of the firm’s largest shareholders, had been reportedly increasing his take in the firm in the lead up to its Chapter 11 [...]
Wework: UK firm owes almost £840m to bankruptcy-hit US owner November 28, 2024 The UK arm of troubled US co-working startup Wework lost almost £150m in the year before its parent company filed for bankruptcy. The division suffered a pre-tax loss of £147.9m in 2023, according to newly-filed accounts with Companies House. The latest figure comes after the arm racked up a pre-tax loss of £122.6m in 2022. [...]
Summer of sport helps provide respite but insolvency trend continues September 20, 2024 A summer of sport and warmer weather helped provide some respite to the retail and hospitality industries in England and Wales helped the number of insolvencies dip last month compared to July, according to new figures. Around 10,000 individuals entered insolvency in August 2024, five per cent lower than July’s total but 16 per cent [...]
Tupperware: How the food storage giant collapsed into bankruptcy September 18, 2024 The plastic food container giant Tupperware has filed for bankruptcy after struggling with declining sales and intensifying competition for several years. The US-based plastic food container giant, which has its UK headquarters in Milton Keynes, has entered Chapter 11 bankruptcy proceedings following a prolonged drop in demand, a trend that has persisted for more than [...]