Condé Nast UK profits slump by more than a third as sale scrapped Media Profits at the UK arm of publishing giant Condé Nast fell by more than a third last year, according to new figures published after the family that owns the Vogue publisher ruled out a sale. The publisher saw pre-tax profits excluding exceptional items plummet 36 per cent from £28m in 2024 to nearly £18m last [...]
Interpath chief fined for breaching confidentiality rules before KPMG spin-off Prof Services The chief executive of restructuring firm Interpath Advisory has been fined for allegedly breaching confidentiality standards before the company was sold to private equity by Big Four accounting giant KPMG, its former owner. The UK’s accounting body, the Institute of Chartered Accountants of England and Wales (ICAEW), said Mark Raddan, a former KPMG board member, [...]
WPP slashes jobs as revenue continues to fall Media Embattled advertiser WPP slashed jobs in the first half of the year as its revenue continued to fall. The London-listed media group cut another 1,267 employees in the first half, around 1.3 per cent of its total staffing. Across the 12 months to June, WPP has now slashed its total workforce by 6.4 per cent [...]
Exclusive: Nothing slashes jobs in cost-cutting push July 24, 2026 British smartphone maker Nothing has begun slashing jobs across its global business as it looks to cut costs following a rapid hiring spree, City AM can reveal. The Kings Cross headquartered hardware firm, founded by Carl Pei, who previously set up Chinese smartphone company OnePlus, has begun consultations with staff across regions and has already [...]
Modella-owned Hobbycraft survives restructuring July 20, 2026 Hobbycraft has survived a restructuring led by its new owner, divisive high street private equity firm Modella Capital. The UK’s largest craft retailer has completed its 13-month company voluntary arrangement (CVA) ahead of schedule, reporting a jump in online users. The company’s emergence from its restructuring defies recent gloom around Modella’s swoops on other high [...]
Volkswagen’s China crunch deepens as Europe’s biggest carmaker weighs 100,000 job cuts June 27, 2026 Volkswagen is weighing up to 100,000 job cuts as Europe’s biggest carmaker accelerates a sweeping overhaul after admitting the manufacturing model that underpinned decades of German industrial success can no longer compete in a market reshaped by Chinese rivals. The German automotive giant is reportedly considering almost doubling previously announced workforce reductions while shutting four [...]
Franco Manca and Real Greek owner slumps to £14m loss as boss quits June 24, 2026 The owner of Franco Manca and Real Greek slumped to a £14m loss shortly after it its boss quit in the wake of a swathe of restaurant closures. Private equity firm Fulham Shore was hit by a £14.2m loss before tax in the year to March 2025, Companies House filings have revealed, nearly triple its [...]
HSBC bags £135m from former Silicon Valley Bank as job cuts push up restructuring bill June 24, 2026 The rescued UK wing of Silicon Valley Bank has paid another bumper dividend to HSBC as it racked up costs amid a sweeping restructure. HSBC Innovation Banking – the branding bestowed on the collapsed Silicon Valley Bank UK (SVBUK) – was taken over by Europe’s largest lender in March 2023 as ministers, regulators and banking [...]
TG Jones backs down from clash with landlords in bid to save stores June 23, 2026 TG Jones has been forced to offer a string of concessions to its landlords after proposals to slash rent in a bid to avert the collapse of hundreds of former WH Smith stores. The retailer, formerly the high street arm of WH Smith, has convinced FTSE 100 landowner British Land to drop its opposition to [...]
Coca-Cola brings in restructuring lineup over failed Costa sale June 22, 2026 US beverage giant Coca-Cola has called in a team of restructuring experts to advise on the failed sale of high street drinks retailer Costa Coffee last year. Consultancy firms Alvarez & Marsal and Alix Partners, which both have prominent City presences, are reportedly advising the coffee chain after an attempt to sell it off was [...]