Claire’s and The Original Factory Shop collapse into administration, risking thousands of jobs Retail High street chains Claire’s and The Original Factory Shop (TOFS) are being put into administration, after their owner said “last-ditch” measures had fallen through, putting about 2,500 UK staff at risk of redundancy. The two retailers had already undergone restructuring and were bought by investment firm Modella Capital last year. Modella said it had made [...]
Insolvencies ease in signs of UK businesses’ resilience Economics Insolvencies declined slightly in June in signs UK businesses under pressure from higher costs have weathered through tax rises and low national spirits. In new data published by the Insolvency Service, company insolvencies fell by eight per cent in June compared to the month before. The number of insolvencies – 2,043 – was also 16 [...]
Exclusive: Small businesses under-prepared amid restructuring push Business Small businesses in the UK are feeling under pressure as mounting threats of cyber-security and economic instability push them towards restructuring, City AM can reveal. Less than one-third of British firms feel very equipped to deal with potential business challenges, according to data from financial and risk advisory firm Kroll. The survey of 350 senior [...]
Early action, better odds: Why UK businesses must act before it’s too late April 14, 2025 UK businesses are struggling through the rapid economic changes. So when the breaking point comes, the earlier they act, the better chance they have
Typhoo Tea racked up debts of £100m as it collapsed into administration January 6, 2025 Typhoo Tea collapsed into administration owing around £100m to its creditors ahead of being rescued, it has been revealed. The Bristol-based company entered administration in November 2024 before being bought in a £10m deal the following month. Now, a new document filed with Companies House by Kroll has revealed how much Typhoo Tea owed to [...]
Typhoo Tea: How trespassers and losing £120m led to downfall of historic brand November 29, 2024 Despite not making a profit since 2017, the management running Typhoo Tea had still been optimistic for 2024 just months before the historic brand crashed into administration. Writing in its latest accounts, the company’s directors stated they were “excited” for the 2024 financial year, proclaiming that “legacy issues have been largely dealt with and the [...]
Typhoo Tea rescue deal eyed up by vapes giant Supreme November 28, 2024 Supreme, which sells products such as vapes and vitamins, is eyeing up a rescue deal for Typhoo Tea after the 120-year-old brand collapsed into administration. Greater Manchester-headquartered Supreme has confirmed it is “currently participating in a process regarding the potential acquisition” and added that discussions are at ‘an advanced stage”. However, the company said that [...]
Typhoo Tea collapses into administration with over 100 jobs at risk November 28, 2024 Typhoo Tea has collapsed into administration in a move that has put more than 100 jobs at risk. The Bristol-headquartered business has appointed Kroll to oversee the administration process. The move comes after it was revealed earlier in November that Typhoo Tea was on the brink of collapse. A spokesman for Kroll said: “As reported [...]