Thomas Cook goes bust: How did it end up like this? September 23, 2019 Britain’s 178-year-old travel firm Thomas Cook officially collapsed into administration in the early hours of this morning after last-ditch rescue talks with lenders failed. The UK’s aviation regulator, the Civil Aviation Authority (CAA), is now in the process of escorting back home hundreds of thousands British holidaymakers who are abroad after booking with Thomas Cook. [...]
Laura Ashley drops into the red amid tough retail conditions August 22, 2019 Furniture and fashion-seller Laura Ashley was hit by a rough retail sector, its chief executive said this morning, as the company fell into the red. Loss before tax and exceptional items hit £9.8m at in the full year to 30 June. Last year the company made a £5.6m profit. Read more: Laura Ashley shares hit [...]
Persimmon profit falls as it tries to tackle quality complaints August 20, 2019 Persimmon has reported a drop in profit for the first half of the year as it spent heavily on schemes to aimed to counter complaints over the quality and fire safety of its homes. The figures Britain’s second largest housebuilder reported a 1.4 per cent drop in pre-tax profit, which fell to £509.3m for the [...]
Number of UK firms in ‘significant distress’ rises July 30, 2019 The number of UK businesses facing “significant distress” has increased as consumer spending slumps due to ongoing uncertainty. In total, 14 per cent of all UK businesses – 484,000 – said they were experiencing significant distress at the end of June, with the leisure and retail industries hit the hardest. Read more: Consumer spending to [...]
ITV profits stumble as broadcaster bets on Britbox for future July 24, 2019 ITV’s share price rose this morning despite seeing profits fall 16 per cent in the first half of 2019, as the broadcaster beat downbeat expectations in an “uncertain” political and economic backdrop. Read more: BBC and ITV reveal pricing for new streaming service Britbox The figures ITV’s profit before tax dropped 16 per cent year [...]
London law firm Mishcon de Reya to explore IPO option July 20, 2019 London law firm Mishcon de Reya has begun preparations for a flotation or stake sale valuing the firm at several hundred million pounds, according to Sky News. Mishcon is looking to hire bankers in the coming months to explore its options, although any formal decisions about raising capital are yet to be made. Read more: [...]
Begbies Traynor revenues pass £60m for first time as insolvencies rise July 9, 2019 Begbies Traynor shares rose three per cent this morning as it announced revenues passed the £60m milestone for the first time last year. The corporate restructuring specialist enjoyed rising pre-tax profit, amid a year in which it made four acquisitions. The firm benefited from an increase in insolvencies across the UK. Read more: UK company [...]
Purplebricks quits US market as losses almost double July 3, 2019 Online estate agent Purplebricks today confirmed it is pulling out of the US, just two years after launch. The figures Revenue at the company grew 55 per cent over the year to £136.5m in the year ending 30 April. Loss before tax shot up to £56m, from £29.2m. Read more: Purplebricks beaten black and blue [...]
Stagecoach profits rise despite UK rail franchise loss June 26, 2019 Stagecoach has ruled out future bids for UK rail franchises today once its current operations finish in November. The transport giant also revealed higher profits for the year to the end of April despite its train business facing an uncertain future. The figures Stagecoach’s profit before tax rose 23 per cent year on year to [...]
Thomas Cook shares crash 40 per cent after Citigroup urges shareholders to sell May 17, 2019 Thomas Cook’s shares collapsed for the second day running today after a broker downgraded the struggling company the day after it revealed a £1.45bn loss. Read more: Thomas Cook shares crash as it suffers 'grim' £1.45bn loss The embattled travel agent’s share price plummeted 40 per cent to new lows of 11.8p this afternoon after issuing [...]