Galliford Try joins the Winters of discontent October 31, 2019 Standard Chartered, Lloyds Banking Group, Aviva and BT Group: even the Investment Association (IA) must have been surprised by the rich seam of targets it uncovered when it launched a campaign to curb the lavish pension perks enjoyed by the chief executives of listed companies. A quarter of FTSE 100 bosses have seen their pension [...]
Business administrations soar 20 per cent October 30, 2019 Business administrations in England and Wales jumped 20 per cent in the third quarter, rising to the highest level for more than five years. In the third quarter the number of companies entering administration rose to 484 from 403 in the previous quarter. Company insolvencies rose 0.4 per cent on the previous quarter to 4,355 [...]
Ferrexpo CEO Kostyantin Zhevago temporarily steps down October 28, 2019 The billionaire boss of Ferrexpo has temporarily stepped down as chief executive. The FTSE 250-listed miner said Kostyantin Zhevago would step aside to “focus on resolving certain matters in Ukraine relating to one of the businesses he owned until 2015”. Read more: Ukraine to put Ferrexpo boss on international wanted list Ukraine is considering adding [...]
TK Maxx defies retail gloom as sales top £3bn October 25, 2019 Budget retailer TK Maxx topped £3bn in sales in the last year, shrugging off high street woes with a rise in profit. US group TJX US, which is the parent owner of the fashion group, has reported a 6.4 per cent rise in sales to £3.1bn in the 12 months to February 2019. Read more: [...]
Quickquid owner to take £58m hit on exiting the UK October 25, 2019 The owner of the UK’s largest payday loan company Quickquid said it will take a £58m hit on closing down the firm and pulling out of the UK market. US-based Enova said in its results last night that it was exiting the UK “due to regulatory uncertainty”. The company said it was recording an after [...]
Supercuts owner Regis UK calls in administrators October 24, 2019 Supercuts owner Regis UK has appointed administrators as the hair salon chain becomes the latest victim of a challenging retail environment. Regis UK, which trades under the Regis and Supercuts brands, entered insolvency yesterday and appointed Deloitte as administrator, Sky News reported. Read more: Supercuts owner Regis UK asks landlords to slash rents The move [...]
UK rises up World Bank ease of business ranking October 24, 2019 The UK is one of the top 10 countries for doing business in the world, according to a new World Bank study, thanks to the ease of starting a firm, protection of investments and insolvency resolutions. Read more: UK economy close to recession after stagnant services sector data In the World Bank’s Doing Business 2020 [...]
Payday lender Quickquid lines up administrators October 24, 2019 Quickquid is on the brink of collapsing into administration following a crack down on pay day lenders. Cash Euro Net UK, which trades under the name Quickquid, has lined up Grant Thornton as administrator as it prepares for a potential insolvency process, which could be launched in the next few days, Sky News reported. Read [...]
Hays Travel paid just £6m for 555 Thomas Cook stores October 23, 2019 Hays Travel paid just £6m for Thomas Cook’s 555 high street stores after the firm’s collapse. Hays bought the stores from the government’s Insolvency Service earlier this month, while also offering jobs to 2,000 former Thomas Cook employees. Read more Hays Travel buys 555 Thomas Cook stores Dean Beale, from the Insolvency Service, told MPs [...]
Number of companies entering administration leaps by a third in the third quarter October 22, 2019 The number of companies entering administration jumped by more than a third during the third quarter of the year, analysis published today showed. A study of notices in the London Gazette by accountancy firm KPMG showed a total of 417 companies went into administration between July and September 2019, compared with 310 in the previous [...]