Insolvencies fell to two-year low in February March 17, 2021 The number of company insolvencies last month stood at 686, the lowest monthly number recorded since January 2019. Figures released by the government’s Insolvency Service found the number of company insolvencies in February 2021 was 49 per cent lower than the same month in the previous year. February 2020 marked the month before the UK [...]
G4S shareholders accept £3.8bn Allied Universal offer March 16, 2021 G4S shareholders have accepted a £3.8bn bid from Allied Universal, bringing to a close a months-long battle between two firms to take control of the FTSE 250 company. Allied Universal said it had received valid acceptances representing roughly 79 per cent of the G4S share capital. The threshold was 50 per cent plus one G4S share. “My team and [...]
Two more cases of Brazil variant found in England March 16, 2021 Two more cases of the Brazil coronavirus variant have been found in England, bringing the total number of reported cases of the variant in Britain to 12. Public Health England said both of the new cases – one in the West Midlands and one in Haringey – were linked to international travel with Brazil. The [...]
Begbies Traynor boss on pandemic insolvencies: ‘The worst is yet to come’ March 16, 2021 Begbies Traynor boss on pandemic insolvencies: 'The worst is yet to come'
Legal lender Level gets £20m investment from venture capital firm March 16, 2021 Legal lender Level has received an investment from Guernsey-based 1818 Venture Capital worth £20m. Level specialises in lending within the family and private client law sectors and works with more than 200 law firms. It had funded hundreds of cases and clients. George Williamson, founder and CEO of Level, said: “[The] investment, and in particular [...]
Central London to get ‘half a dozen’ new Greggs stores following rent bonfire March 16, 2021 Half a dozen new Greggs stores will open up in zones one and two in central London, including in the City of London, after falling rents in the capital made London spaces more attractive. Greggs reported its first annual loss today since listing on the stock exchange in 1984, after coronavirus restrictions forced store closures [...]
Ex-Norwegian CEO pilots low-cost airline that will fly London to New York March 15, 2021 Bjørn Kjos, Norwegian’s former CEO, is launching Norse Atlantic Airways, which he hopes will be in operation by the end of 2021. Kjos has invested 24m kr from his own pocket into the venture, which comes less than two years after he stood aside as Norwegian’s CEO. Norse aims to fill the gap left by [...]
Clifford Chance hands staff Covid-19 bonus March 15, 2021 Clifford Chance will pay staff an extra bonus of five per cent of their salary for their hard work during the pandemic. As a sign of the firm’s appreciation for its people over the past 12 months, the magic circle law firm will make a one-off payment to each of its lawyers and business professionals [...]
Women sentenced after faking husband’s death for £400,000 insurance claim March 15, 2021 A woman from London faces two years imprisonment after she reported her husband dead in an attempt to defraud her insurer £397,153. Thuile Bhebhe, 51, reported that her husband had died in Zimbabwe in August 2016, submitting false documents to her insurer, Aviva, in order to substantiate her claim. But discrepancies in the paperwork submitted [...]
Exclusive: Law firm mergers drop to nine-year low as Covid-19 turns consolidators cautious March 15, 2021 Law firm mergers have fallen to a nine-year low, as the economic downturn brought about by the Covid-19 pandemic has left consolidator firms wary of making acquisitions. Just 107 law firm mergers were completed in 2020, down 25 per cent on the 143 mergers that occurred in 2019 and less than half the 278 mergers [...]
