Tesco buys Paperchase brand but over 800 jobs remain at risk January 31, 2023 Tesco has purchased the brand and intellectual property of Paperchase, the supermarket has confirmed, after the embattled stationary company collapsed into administration this morning. However, it has not acquired the chain’s 106 physical stores across the UK and Ireland, leaving 820 jobs at risk. The supermarket will now sell its products in its UK stores. [...]
Paperchase: Struggling stationery chain expected to appoint administrators today – reports January 31, 2023 Paperchase, the high street stationery retailer, is believed to be on the verge of appointing administrators. The chain store’s parent company is reportedly in the process of bringing in insolvency practitioners from Begbies Traynor, according to Sky News. Paperchase’s shareholders are still holding out for a buyer but rumours are they are looking for a [...]
Paperchase puts administrators on standby – but ‘interested parties’ in talks January 17, 2023 Stationery outfit Paperchase has put administrators on standby as it scrambles to find new financial backers. Sky News’ Mark Kleinman has reported that Begbies Traynor has been lined up to handle any potential insolvency. The firm has been bruised and battered by the pandemic and changes to the high street, though City sources told Kleinman [...]
Bankruptcy specialists prepare for boom as economic headwinds hit UK firms December 13, 2022 Corporate restructuring specialists Begbies Traynor and FRP Advisory are expecting a boom in demand for their services in the oncoming economic slump. The advisory businesses are expecting to profit from a surge in insolvencies as worsening economic headwinds start sinking more UK firms. Begbies Traynor’s executive chairman Ric Traynor told City A.M. the consultancy stands [...]
Insolvency specialist Begbies Traynor notches jump in profits as bankruptcies soar December 13, 2022 Insolvency specialist Begbies Traynor said it expects to see demand for its corporate recovery services swell next year as recession begins to bite, after it posted a £2.3m rise in pre-tax profits in its first half of trading today.
Begbies Traynor on track for double digit growth as it cashes in on insolvencies November 17, 2022 Begbies Traynor said it was on track for double digit growth as it cashes in on the economic instability. The corporate restructuring firm said in a trading update that it expects revenue to climb 12 per cent to £58.5m, with adjusted profit before tax also up 13 per cent to £9m. Begbies Traynor said insolvency [...]
Worcester Warriors players say ‘don’t take the P’ as contracts terminated October 5, 2022 Worcester Warriors players whose contracts were yesterday terminated have launched an appeal for the club to be allowed to keep a crucial shareholding in Premiership Rugby that could safeguard its future. “P Shares” are owned by each of the 13 Premiership clubs and afford them annual payouts from a central pot of money as well [...]
Greggs: Sausage roll sales rise as consumers look for cheaper eats October 4, 2022 Greggs has reported surging sales this autumn while making no changes to its cost inflation outlook for the year. The sausage roll specialist said on Tuesday that total sales were up 14.6 per cent for the 13 weeks to 1 October 2022, compared to the same period in 2021. Price increases of around five pence [...]
WH Smith high street sales lower than pre-Covid levels after Funky Pigeon hack September 7, 2022 WH Smith has said its high street arm has been impacted by a cyber security issue with its greetings cards business, denting sales. The stationery seller said its high street business was performing in line with expectations. Sales stood at 80 per cent of 2019 revenue for the 26 weeks to 27 August 2022, following [...]
Begbies Traynor bosses expect rising insolvencies in the coming months July 19, 2022 Begbies Traynor’s revenue has jumped more than a third over the past year, as the business recovery and financial advisory firm scoops up ailing firms. Executive chairman of the London-listed group, also a property services consultancy, said a string a acquisitions and a spike in trading has lifted its financials “comfortably ahead of original market [...]