Begbies Traynor agrees new £25m debt facility with HSBC February 26, 2024 Professional services restructuring specialist Begbies Traynor agreed to a new debt facility with HSBC, which replaces its existing facility with the same bank. The group’s existing facility was due to mature in August 2025 after it was secured in 2016. The new debt facility with HSBC sees £25m committed to an unsecured revolving credit facility, [...]
Economy: ‘Situation critical’ warning after huge spike in on the brink businesses January 22, 2024 Nearly 50,000 UK businesses are in a "critical" financial position, according to a new data, as high borrowing costs and inflationary pressures continue to squeeze firms.
Nightmare before Christmas? Nearly 4,500 UK retailers are in ‘critical financial distress’ December 21, 2023 Nearly 4,500 UK retailers are in “critical financial distress” during the sector's ‘Golden quarter’ due to weak Christmas sales performances.
Begbies Traynor acquires midlands firm of property auctioneers December 12, 2023 Professional services that act as a restructuring specialist, Begbies Traynor Group has completed the acquisition of a national firm of property auctioneers.
Insolvency specialist Begbies Traynor makes hay as economy slows December 11, 2023 The number of firms in difficulty continues to increase which has given specialist accountant Begbies Traynor a boost
Rising insolvencies have driven a surge in professional indemnity claims against accountants November 23, 2023 Professional indemnity claims have risen as accountants are placed into the firing line in insolvency cases.
Begbies predicts double-digit growth as insolvencies rise November 20, 2023 Begbies Traynor Group predicted double digit growth in both revenue and profitability, as the number of insolvencies continues to rise on tough market conditions. The company has not published any financial results but states it expects its revenue and adjusted operating profit to increase by 13 per cent. Last year, the company reported £58.5m in [...]
Insolvencies at highest levels since 2009 — but which sectors are the worst hit? October 31, 2023 The number of insolvencies has risen to its highest level since 2009, at the height of the financial crisis.
Gambling giant 888 turns page from scandals with William Hill boost August 15, 2023 Betting giant 888 has said its acquisition of William Hill has helped boost its revenue up 165 per cent. The firm said in the six months ended 30 June, revenue flew up 165 per cent, with adjusted earnings before interest, tax, depreciation and amortisation up 211 per cent thanks to its purchase of world’s biggest [...]
Stumbling economy allows insolvency specialists Begbies Traynor to cash in after acquisition spree July 11, 2023 Insolvency specialists Begbies Traynor upped its dividend after it saw its pretax profit increase by half in 2023. Pretax profit climbed to £6m from £4m the year before, ahead of market expectations, leading the firm to up its dividend by nine per cent on last year to 3.8p. On an adjusted basis, which excluded the [...]