Natwest to ‘suffer significant shortfall’ with a 90 per cent loss after Island Poke collapse August 8, 2024 Natwest is on course to “suffer a significant shortfall” following the collapse of London-based Hawaiian food chain Island Poke, it has been revealed. The bank is one of the major creditors to the business which was sold in a pre-pack administration to a subsidiary of hospitality incubator White Rabbit Fund in July. The food business [...]
Deliveroo: Delivery group posts profit, launches buyback amid ‘encouraging’ signs in consumer behaviour August 8, 2024 Deliveroo posted a profit of £1m in the first half of 2024, rebounding from a loss of £83m in the same period last year. Shares rose over six per cent on Friday morning as gross transaction value (GTV) came in just under £3.7bn, up five per cent year on year from £3.5bn. The food delivery [...]
Another one? Next hikes profit guidance again as sales soar ahead of expectations August 1, 2024 Department store Next has increased its profit guidance for the year as sales soared in its first half of its financial year.
The Notebook: Falling fares spell trouble for airlines while Big Tech set for monster quarter July 24, 2024 Where the City’s movers and shakers get a few things off their chest. Today, it’s Victoria Scholar, head of investment at Interactive Investor, with the pen, talking airline stocks, Big Tech earnings season and her summer listening picks Turbulence at Ryanair, BA and Easyjet Airline stocks are having a turbulent time. Just on Monday, shares [...]
Financial distress soars in ‘extremely testing’ UK business environment July 22, 2024 Although consumer facing firms were hit the worst, levels of distress increased across 20 of the 22 sectors covered in the Red Flag Alert.
JD Wetherspoon: Tim Martin on a ‘gradual recovery’ and Reeves’ plans for pubs July 10, 2024 Labour costs have increased by £164m in this financial year compared to 2019, while energy, repairs and interest costs have risen by £28m, £38m and £16m respectively.
Begbies Traynor: Insolvency giant’s revenue nears £140m as it powers to 2027 target July 9, 2024 Professional services firm Begbies Traynor revenue has increased by 12 per cent to £136.7m, resulting in a "10 year track record of continual growth" for the firm
Fortress Capital is a Ponzi scheme, administrators claim amid attempt to bankrupt directors July 8, 2024 Administrators of an investment firm that had been backed by celebrities and footballers have labelled it a Ponzi scheme, and will seek to bankrupt its two directors.
Lunchtime favourite Island Poke sold out of administration June 27, 2024 London-based Hawaiian food chain Island Poke has been sold in a pre-pack administration to a subsidiary of hospitality incubator White Rabbit Fun
Island Poke: London’s hot lunch spot files CVA to High Court May 23, 2024 Island Poke has ask Begbies Traynor to come in and provide advice for the business.