Brooks Brothers UK goes into administration as suits fall out of fashion April 9, 2021 The UK division of US business attire retailer Brooks Brothers had gone into administration, after suffering from a lack of demand for its products as people worked from home. Begbies Traynor were yesterday appointed the company’s administrators, website Bisnow first reported. “The reason for my appointment as administrator of the UK company is of course [...]
Profit and revenue turn flat at Irn Bru owner AG Barr following rollercoaster year March 30, 2021 AG Barr saw profits and revenue fell in 2020 relative to the previous year, following a volatile and unpredictable year. Revenue at the firm, which owns brands Irn Bru and Rubicon, stood at £227m for its 2021 financial year, down 11 per cent from 2020, where revenue stood at £255.7m. The firm’s profit before [...]
National Express careers to £380m loss as pandemic forces emergency stop March 18, 2021 Coach firm National Express this morning reported a £381.4m operating loss for 2020 as the pandemic drove its vehicles off the road for months at a time. The FTSE 250 company saw passenger numbers plunge 80 per cent when last year’s initial lockdowns struck, sending profit and revenue tumbling. For the full year, it swung [...]
British fashion brand Ralph & Russo enters administration after Covid hits sales March 17, 2021 British luxury fashion brand Ralph & Russo has collapsed into administration after the coronavirus pandemic decimated sales. Ralph & Russo has appointed Begbies Traynor and Quantuma as administrators to investigate “all possible options” for the company. In a statement this afternoon, the company’s co-founder Tamara Ralph said trading conditions during the pandemic had put “tremendous [...]
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 [...]
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'
Football Index has licence suspended by Gambling Commission after appointing administrators March 12, 2021 Football Index has had its licence suspended by the Gambling Commission after appointing administrators. The platform, which allows users to trade “shares” in high-profile footballers, suffered a market crash last weekend after reducing dividend payouts – one of the ways users can make money. Football Index suspended trading on Thursday, when it announced it was [...]
Begbies Traynor set for £25m acquisition in biggest deal yet March 12, 2021 Begbies Traynor has agreed to buy insolvency practice David Rubin & Partners, in a deal worth up to £25m. The deal represents Begbies Traynor’s biggest acquisition to date, and continues the firm’s recent acquisitive spree, which has seen it buy two firms already this year. Begbies Traynor will pay an initial £12m for David Rubin [...]
William Hill profits slump as betting giant takes pandemic hit March 4, 2021 British bookmaker William Hill, currently in the process of being acquired by Caesars Entertainment, posted a steep fall in profit last year. Its adjusted pre-tax profit fell 91 percent to £9.1m in 2020. The firm saw net revenue fall by 16 per cent as the pandemic disrupted live sporting events and shut its betting shops. [...]
Aston Martin careers to £320m loss as car sales fall a third February 25, 2021 Iconic sports car brand Aston Martin fell to a £322m operating loss in 2020, the firm said this morning, as coronavirus restrictions saw car sales fall a third. In line with this fall, total retail sales slipped 32 per cent, from 6,150 last year to 4,150 this year. Despite the fall in sales, however, shares [...]