Men’s fashion retailer Blue Inc victim of high street carnage as it enters administration December 16, 2018 Men's fashion retailer Blue Inc has become the latest victim of the carnage on the high street as it crashed into administration last week. The chain appointed turnaround specialist Begbies Traynor to find a buyer last month after a string of cost-cutting and restructuring measures had failed to take it into the black. However, no [...]
Mothercare shares fall as it puts the media in the firing line after losses widen in insolvency battle November 22, 2018 Losses have mounted at embattled childcare retailer Mothercare, which blamed it on critical press coverage of its financial woes as the company undergoes a restructuring process. Group managing director David Wood, who acted as interim chief executive earlier this year, stepped down from his position yesterday. Its share price fell more than 10 per cent as markets [...]
The Scotsman publisher Johnston Press puts itself up for sale as it tries to tackle huge £220m debt pile October 11, 2018 Struggling publisher Johnston Press’s share price dropped over seven per cent today on the news that it was putting itself up for sale. The newspaper group behind the ‘i’ newspaper, The Scotsman and the Yorkshire Post, amid 200 regional titles, has a towering pile of debt totalling £220m that it must pay off by 1 June [...]
House of Fraser landlords, lawyers and property advisers slam ‘disappointing’ CVA vote June 22, 2018 Landlords have been left disappointed after House of Fraser's CVA was passed today, with some even considering legal action. Creditors threw a lifeline to the department store chain by approving rescue plans that will result in half of the retailer's sites being closed. Possible legal challenge Two advisers to a group of the affected landlords [...]
Trouble in store: More pain on the way for UK retail April 10, 2017 A triple-blow of tax hikes, rising costs and a squeeze on consumer spending is threatening to wipe out thousands of British retailers, with a string of familiar high street names expected to fall into administration this year. Nearly 23,000 retailers were under significant financial stress at the end of the first quarter according to insolvency [...]
Number of firms in financial stress grows for thirteenth quarter in a row January 30, 2017 Over 275,000 companies were showing sings of financial distress at the end of 2016, the thirteenth quarter in a row that business stress in the UK has risen. The figures from insolvency firm Begbies Traynor show that the number of companies battling 'significant' financial distress grew three per cent year-on-year in the final quarter of 2016. Read [...]
Original Travel’s chief executive reveals how its services stand out in a sea of travel companies January 23, 2017 Parents have 40 opportunities to go on a holiday with their children before they outgrow family outings according to travel company chief executive Nick Newbury. He points out that there’s only so much time in a year, and so much holiday leave in a job. As well as time constraints, pressure is mounting on consumers [...]
British sports car maker Zenos has gone into administration January 20, 2017 The Norfolk-based manufacturer of lightweight sports cars, Zenos, has revealed that it’s entered administration – citing a downturn in sales for it ceasing trading. The start-up company has been punching above its weight since it launched the brilliant E10 in January 2015. Journalists raved about the £26,995 Lotus rival – but, ultimately, it wasn’t enough [...]
Warning signs for legal eagles: One in three law firms in serious financial danger January 19, 2017 One in three law firms is currently in financial hot water, according to figures seen by City A.M. A search by Opus Restructuring of a database from Company Watch identified just over 6,000 UK law firms with enough numbers to crunch. Of those, 2,056, or 34 per cent, were performing so poorly financially that they could be at [...]
Food suppliers squeezed as supermarkets play hardball in Brexit price talks January 10, 2017 Food suppliers are being squeezed as supermarkets play hardball in talks over which side should shoulder the burden for the devaluation of the pound, new figures suggest. Research from insolvency firm Begbies Traynor shows 6,000 food suppliers were showing signs of financial distress in the final quarter of 2016, an increase of 13 per cent [...]