English football going German and embracing fan ownership November 25, 2013 ENGLISH football is set for a steep rise in the number of clubs adopting fan-owned structures, according to a new study. Teams in financial difficulties are particularly likely to turn to the community interest company (CIC) model, report insolvency experts Begbies Traynor. Darlington, Eastbourne and Scottish side Stenhousemuir are among those to embrace increased supporter [...]
Growth fears as credit cards drive recovery October 28, 2013 HOUSEHOLD borrowing is set to grow this year for the first time since the credit crunch struck, according to forecasts out today from the Ernst and Young ITEM Club. But business borrowing and investment remains weak, raising concerns over an imbalanced, consumer-credit fuelled recovery. The economists predict consumer credit will gradually pick up pace, growing [...]
Zombie estate agents at risk from rate rise October 14, 2013 ALMOST half a million British firms are now zombies, only able to stay afloat because interest rates are so low, insolvency practitioners Begbies Traynor estimated yesterday, with estate agents the worst affected. One in seven firms can barely cover their interest payments and are at risk of going under if rates go up, amounting to [...]
Begbies Traynor warns of lower earnings due to insolvency fall October 1, 2013 RESTRUCTURING specialist Begbies Traynor yesterday said revenues were currently lower than last year due to “suppressed” conditions in the insolvency market. The company, which helps businesses restructure when they fall into insolvency, said a 13 per cent decline in insolvency appointments across the country had been bad news for its own business. The gloomy prediction [...]
Firms’ spirits up on hopes of 2013 recovery February 3, 2013 BUSINESS sentiment improved in the first month of the new year, as firms bet the UK could put decline behind it and dodge a triple-dip recession. Confidence hit an 18-month high in January, according to Lloyds Bank’s business barometer, out this morning, with 46 per cent more firms saying their trading prospects would improve than [...]
Aviation one of five sectors set to suffer in 2013 January 16, 2013 FIVE struggling sectors of the economy could face more woe in 2013, says a report released yesterday. Aviation, care homes, farming, local authorities and NHS trusts are the five most likely sectors to come in for financial distress over the coming year, according to forecasts from Begbies Traynor, due to funding and demand squeezes. Airlines face a [...]
Our struggling retailers face years of creative destruction January 10, 2013 WE are now reaching a tipping point for British retailers. A combination of historically weak growth in consumer spending and a new phase in the digital revolution is on the verge of destroying many business models. As online sales continue to boom, and those from stores start to slide, rather than merely grow more slowly, [...]
After clothing sales slumped at M&S, can the traditional high street retailer survive? January 10, 2013 YES Neil Saunders Retail can be seen as a game of two halves. Last year, spending through physical outlets grew by 0.2 per cent, whereas online retail spending grew by 13 per cent. But while the growth of online has put pressure on physical retailing, the situation is not all doom and gloom. Firstly, the [...]
Jessops latest firm to call in administrators January 9, 2013 JESSOPS the specialist camera chain yesterday became the first major retailer of 2013 to collapse into administration, as analysts warned 140 retailers were at risk of following in its footsteps. PwC, which was appointed administrator, said it was now in eleventh hour talks to save the 192-store business but warned closures were inevitable, putting more [...]
Zombie firms taking a bite out of earnings at Begbies Traynor December 12, 2012 AN ARMY of “zombie companies” being kept afloat by record low interest rates have hit business recovery group Begbies Traynor’s earnings in the last six months. The firm’s revenues fell 11 per cent to £26.1m in the half-year to the end of October, while pre-tax profits dropped from £3.4m a year ago to £2m. A [...]