Retailers sound alarm bells after one of toughest Christmas periods on record January 13, 2016 UK retailers have suffered one of their worst Christmas trading periods on record, according to new research showing a surge in the number of companies struggling to make ends meet. Turnaround specialist Begbies Traynor said 26,013 UK retailers entered the year in significant financial distress – nearly double the amount recorded in the fourth quarter [...]
UK retailers scramble to rescue Christmas as distress levels rise amid fierce discounting December 22, 2015 High street retailers have suffered a disappointing Christmas so far this year amid fierce competition and the rise of online, Begbies Traynor has warned, with retailers now pinning their hopes on a last-minute sales spree this week. According to the insolvency specialist's latest Red Flag research, which monitors the health of UK companies, the number of retailers now suffering [...]
FTSE 100 closes down as Sports Direct struggles – London Report December 11, 2015 Gains for Glencore couldn’t keep the FTSE 100 up last night as both Sports Direct and Old Mutual fell hard. The index closed 0.63 per cent down at 6,088. Sports Direct slumped after Mike Ashley’s retailer posted poor first-half results and the company was criticised for staff conditions. Group revenue ticking up 0.1 per cent [...]
At the close: FTSE 100 index closes down on Sports Direct, Old Mutual December 10, 2015 The FTSE 100 index slid in Thursday's trading despite gains by Glencore as both Sports Direct and Old Mutual tumbled. The index closed 0.63 per cent down at 6,088 points. Sports Direct slumped after Mike Ashley's retailer posted underwhelming first half results and the company was criticised for staff working conditions. Group revenue ticking up 0.1 per cent to £1.43bn, [...]
Sports Direct share price falls as Mike Ashley’s retailer posts underwhelming first half results December 10, 2015 Sports Direct's share price fell this morning after reporting underwhelming first half figures. The figures The Mike Ashley-owned retailer had a solid six months to 25 October, with group revenue ticking up 0.1 per cent to £1.43bn, while underlying pre-tax profit rose 3.6 per cent to £166.4m and EBITDA rose 7.6 per cent to £218.5m. [...]
Begbies Traynor sees profits plummet to £0.6m amid difficult insolvency market December 9, 2015 Business recovery and property services consultancy Begbies Traynor today revealed profit before tax of £0.6m for its six months ended 31 October 2015, plunging from £1.5m for the same period last year. However, revenue for the company increased to £25.5m for the period, up from £20.8m in 2014. The company noted that the financial performance was in [...]
Restaurants and bars get their appetite back following Rugby World Cup 2015 boost October 26, 2015 The Rugby World Cup and greater consumer spending power thanks to falling food and petrol prices provided a much needed boost to UK bars and restaurants during the third quarter of the year. According to Begbies Traynor’s latest Red Flag update, which monitors the health of UK companies, the number of restaurants and bars experiencing “significant” [...]
UK grocery sector shows green shoots of recovery as distress levels fall October 19, 2015 Britain’s supermarket sector is showing signs of recovery, according to new research from Begbies Traynor that reveals the number of companies struggling to stay afloat declined for the first time in over two years. The business recovery specialist’s latest Red Flag Alert research, which monitors the health of UK companies, shows levels of “significant” financial [...]
Tesco first half results: Analysts question whether “Drastic Dave” Lewis has been drastic enough October 7, 2015 Tesco may have beaten expectations for UK sales in the first half of this year, but analysts are warning that the troubled supermarket still has a long way to go if it is to shrug off the many problems facing the UK's biggest retailer. Tesco's profits fell 55 per cent in the six months to 31 [...]
Supermarket wars hit food suppliers hard July 19, 2015 HEAVY discounting and delayed payments from supermarkets fighting to win back customers from the discounters is putting the UK’s smallest food suppliers, independent grocers and farmers at risk of collapse, warns Begbies Traynor. According to Begbies Traynor’s Red Flag Alert research for this year’s second quarter, the UK food and beverage manufacturers sector, which includes [...]