Jet2 buys Thomas Cook’s slots at Stansted, Manchester and Birmingham airports November 8, 2019 Budget airline Jet2 has snapped up Thomas Cook’s airport slots at Stansted, Manchester and Birmingham, the collapsed travel company’s liquidators confirmed today. The official receivers did not reveal how much Jet2 paid for the landing and take off slots, which came hours after Easyjet bought Thomas Cook’s slots at Gatwick and Bristol. Read more: MPs [...]
Easyjet buys Thomas Cook slots at Gatwick and Bristol for £36m November 8, 2019 Budget airline Easyjet has bought the take-off and landing slots of collapsed travel company Thomas Cook at London Gatwick and Bristol airports for £36m. The company announced today it has bought 12 summer slot pairs and eight winter slot pairs at Gatwick and six summer slot pairs and one winter slot pair at Bristol, in [...]
Intu braced for income drop as retail CVAs take a toll November 6, 2019 Shopping centre owner Intu is expecting to report a sharp drop in rental income for 2019 after a higher-than-anticipated volume of insolvencies from its occupants. Shares in the group tumbled 13 per cent after the bell this morning as the real estate giant revealed that it might have to sell off assets or make a [...]
BHS buyer Dominic Chappell banned from directorships for 10 years November 5, 2019 Dominic Chappell, the businessman who bought BHS from Sir Philip Green for £1 a year before the company collapsed with 11,000 jobs lost, has been barred from serving as a company director for ten years. Sky News first reported today that the Insolvency Service had handed the the three-time bankrupt the decade-long ban. Read more: [...]
23 Capital: Meet the London-based finance company behind Barcelona’s signing of Antoine Griezmann and Atletico Madrid’s deal for Joao Felix November 5, 2019 Football’s two biggest deals of the summer transfer window had something in common, and not just that Atletico Madrid was either the buying or selling club. The other unifying factor in the signings of £113m Portuguese sensation Joao Felix and £108m France forward Antoine Griezmann was the involvement of financing from London-based 23 Capital on [...]
Luxury bag retailer Radley doubles size of US business November 4, 2019 Luxury accessories brand Radley more than doubled its US business over a year as customers hunt out classic British heritage brands. Radley – which sells its products in the US in Macy’s department stores, through QVC television and on its own website – is seeking to expand its presence in the country after establishing a [...]
Thomas Cook collapse: MPs slam government inaction and lack of audit reform November 4, 2019 Business secretary Andrea Leadsom has come under fire from MPs for “the extraordinary lack of interest” she showed in Thomas Cook in the run-up to its collapse, amid growing calls for wide-ranging regulatory reform. In a scathing conclusion to the business select committee’s (BEIS) review into the travel giant’s liquidation, MPs expressed their frustration that [...]
Three reasons behind Mothercare’s fall into administration November 4, 2019 Mothercare’s UK retail business is set to collapse into administration, despite a rescue plan implemented last year, the retailer confirmed today. Mothercare has filed a notice of intent to appoint administrators to its 79 UK stores after determining they were “not capable of returning to a level of structural profitability”. So what exactly went wrong? [...]
Mothercare to appoint administrators for 79 UK stores November 4, 2019 Mothercare has confirmed it is preparing to appoint administrators to its UK retail arm later today in the latest blow to the British high street. The company announced this morning that a notice of intent to appoint administrators to Mothercare UK and Mothercare Business Services has been filed with the court. Read more: Mothercare warns [...]
Mothercare ‘finalising plans’ to put UK business into administration November 3, 2019 Mothercare is said to be finalising a restructuring plan that could involve putting its British operations into administration this week, in what would be the latest blow to the UK’s struggling retail sector. The company, which now leans heavily on its franchising business abroad, has readied administrators to take over the unit in the coming [...]