Begbies lowers its outlook March 10, 2011 British restructuring specialist Begbies Traynor said it lowered its expectations for full-year results due to a fall in demand for its tax planning services, sending its shares down eight per cent. The company also said restructuring of its insolvency, tax and support areas was expected to cost about £3m for the year ending 30 April. [...]
Firms struggling to stay afloat up by 20 per cent January 23, 2011 THE number of UK companies struggling to stay solvent jumped 20 per cent in the last quarter of 2010, data shows today. Nearly 148,000 companies had insolvent accounts, a court action against them or a wind-up petition filed by the end of 2010, up from 123,361 in the third quarter, the Red Flag Alert analysis [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 6, 2010 FINANCIAL TIMES EMPLOYER OPTIMISM INCREASES IN BIG ECONOMIES Hiring in the US and half a dozen other leading economies will increase for the first time in more than two years during the first quarter of 2011, according to a report released on Monday by Manpower, a global recruiting firm. Manpower’s Employment Outlook Survey shows plans [...]
Number of London-based firms in trouble is up 84pc since 2009 November 9, 2010 THE number of London businesses in financial difficulties increased dramatically last month according to new figures from a Begbies Traynor/City A.M. study. Across the UK a staggering 40 per cent more firms are in financial dire straits than in the depths of the recession in January 2009. In London this grows to 84 per cent [...]
City’s small businesses are crying out for help October 14, 2010 IT IS a known fact that when recession strikes there is a lag between companies beginning to feel the pain and actually getting into real difficulties. This time around it is no different and, with just days to go until the Comprehensive Spending Review is unveiled, many UK businesses that are already struggling are hoping [...]
State cuts to hit 50,000 firms October 13, 2010 More than 100,000 companies in Britain are in financial distress, with a combined debt pile of £58bn, according to insolvency group Begbies Traynor. The company’s Red Flag Alert report on troubled companies said around 50,000 business are likely to be hit by the government’s looming spending cuts. The report said construction, IT, recruitment and advertising [...]
CITY VIEWS: IS BORIS RIGHT? SHOULD STRIKES BE STOPPED? October 4, 2010 NICK LAWTON | FDM GROUP “Since the Tube workers have abused the right to strike for so long, the Mayor has a point. These lot are making a joke of it by striking on a regular basis.” SAM DAVYSON | THREADNEEDLE “No, I don’t think Boris has a point. It’s a good thing that the [...]
CITY MOVES | WHO’S SWITCHING JOBS September 30, 2010 Threadneedle The investment manager has appointed Vanessa Donegan, a founding member of its investment team, as head of Asia and global emerging markets. Donegan has 30 years of experience in fund management, including her most recent role as Threadneedle’s head of Asia Pacific equities. She will now be responsible for overseeing the management of £6.5bn [...]
CITY MOVES | WHO’S SWITCHING JOBS September 21, 2010 Advent International The private equity firm has appointed Marcello Bottoli, the ex-chief executive of Samsonite, as an adviser focusing on opportunities in the retail and consumer sectors, especially branded consumer products, fashion and luxury goods. Bottoli led Samsonite for five years up until January 2009, during which time he turned around the firm and oversaw [...]
Government cuts herald tough times for services firms September 12, 2010 CONNAUGHT’S high-profile collapse has ushered in a period of intense difficulty for other services companies, according to the latest monthly City A.M./Begbies Traynor health monitor for the Square Mile. The social housing maintenance specialist, which fell into administration last week, is not alone in having felt the pressure of impending government spending cutbacks and poor-quality [...]