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 [...]
Begbies Traynor shares defy market slump to rise five per cent following good results February 23, 2021 Begbies Traynor defied London’s market slump today, with shares rising five per cent following encouraging results. In a Q3 update the professional services firm said it was “confident” of the outcome of its full year results, although it gave no actual figures. The business has enjoyed something of an acquisition spree this year. Earlier this [...]
Pub and restaurant giants circle struggling firms and property in post-pandemic expansion push February 17, 2021 Pub and restaurant giants and private equity firms are circling smaller chains and vacant properties, looking to snap up expansion opportunities at a discounted price during the Covid pandemic and reap the rewards when the industry bounces back. Merger and acquisition activity in the hospitality industry has already begun. Figures from restructuring firm Resolve showed [...]
Royal Mail reports busiest Christmas on record as parcel revenue soars February 11, 2021 More than 496 million parcels were delivered by Royal Mail during the third quarter, the busiest period in its history. The postal service distributed 11.7 million parcels during its toughest 24 hours, 32 per cent more than the busiest day throughout the first national lockdown. Covid-19 restrictions prompted a surge in demand, leading to Royal [...]
Safety equipment giant Halma appoints healthcare veteran as its new chair February 9, 2021 Safety equipment maker Halma has appointed former BTG CEO Louise Makin as its new chair this morning. She will take up the role in July. Makin who will join the board as an independent non-executive director and chair designate, replacing Paul Walker who has held the post for eight years. “Halma is driven by its [...]
Begbies Traynor buys chartered surveyors as acquisition spree continues February 8, 2021 Professional services firm Begbies Traynor has bought London-based chartered surveyors Hargreaves Newberry Gyngell (HNG), in a deal worth £1m. HNG employs 13 staff, who will all integrate with Eddisons, Begbies Traynor’s property advisory and transactional services division. The acquisition is for an initial cash consideration of £0.4m on a cash free, debt free basis. Contingent [...]
High and dry: London medical cannabis company enters administration February 1, 2021 London-based pharmaceutical company Senzer has entered administration, after failing to get enough backing to float on the Alternative Investment Market. Professional services firm Begbies Traynor has been appointed administrator of Senzer, which entered administration in early January. Senzer developed and manufactured respiratory devices for medical cannabis use. Its core product was a breath-activated inhaler that [...]
Topshop set for discount sale price after Next pulls out of race, analysts say January 22, 2021 The bidders circling Sir Philip Green’s collapsed retail empire Arcadia could bag a good deal to buy Topshop, after Next – a frontrunner to rescue the firm’s “crown jewel” – pulled out of the race. Restructuring experts said Next’s exit from the sales process will put the other bidders in a stronger position, making it [...]