Legoland owner Merlin set to meet market expectations despite quiet winter May 3, 2019 Entertainment company Merlin has reported that it is set to meet analysts expectations in its financial results, despite the seasonally quiet period. Merlin, which owns Legoland and Madam Tussaud among other attractions, said that trading had been in line with the guidelines set out in February. Read more: Intu warns on profit after insolvency procedures pile [...]
Board to hold crunch meeting over Sir Philip Green’s Arcadia restructure tomorrow April 29, 2019 Bosses at Sir Philip Green’s Arcadia are reportedly set to discuss the fate of the troubled fashion firm at a crunch meeting tomorrow. Read more: Sir Philip Green appoints restructuring specialists to Arcadia's board The future of the fashion tycoon’s retail chain, which includes brands such as Topshop and Dorothy Perkins, is set to be [...]
Dark clouds gather as one-sixth of British businesses struggle financially April 29, 2019 Nearly a sixth of British businesses are in financial trouble, amid concerns the UK could suffer a wide-ranging economic slowdown in the coming months, according to research. Read more: Natwest increases small business loan programme amid Brexit uncertainty A report by a leading insolvency firm has revealed there are 484,000 UK firms in “significant financial [...]
Bell Pottinger partners could face legal action over disgraced PR firm’s collapse April 17, 2019 Former partners of the disgraced PR firm Bell Pottinger could face legal action over its collapse, administrators BDO have warned. The PR company collapsed in 2017 following a scandal over its work for the Gupta family in South Africa, where it was accused of deliberately inciting racial hatred. Read more: Insolvency Service launches probe into [...]
Monsoon Accessorize ‘will close dozens of stores’ across UK in latest setback for high street April 15, 2019 Fashion retailer Monsoon Accessorize is reportedly planning a spate of store closures using a controversial insolvency mechanism, in another blow for Britain’s embattled high streets. Read more: Revealed: All 15 LK Bennett stores set to close in Chinese sale The chain, which trades from nearly 270 stores across the UK, could announce “dozens” of closures [...]
What’s next for Europe’s capital markets? April 15, 2019 There are big questions on the horizon about the next steps for Europe’s financial sector. This topic was at the top of the agenda recently when I was in Romania for the Eurofi regular gathering of European finance ministers, financial services policy makers and industry representatives. As the current EU legislative cycle winds down before [...]
Sir Philip Green appoints restructuring specialists to Arcadia’s board April 11, 2019 Sir Philip Green has appointed restructuring experts to the board of his retail empire as the billionaire tycoon prepares to overhaul the company. Former Deloitte partner Jamie Drummond Smith, who was the chairman of Cattles, has joined the board as interim chairman and Peter Bloxham, an independent restructuring advisor and former head of restructuring and [...]
Debate: Given the problems at Wow Air, should we be worried about the future of the airline industry? April 5, 2019 Given the problems at Wow Air, should we be worried about the future of the airline industry? Yes – Anthony Hynes is chief executive of eNett international. With Iceland’s Wow Air and other airlines going bust recently, it’s undeniable that the airline industry is going through some turbulent times. In fact, our recent study shows that [...]
Icelandic airline Wow Air closes operations as it fails to secure rescue deal March 28, 2019 Debt-ridden Wow Air shut operations and grounded planes this morning after a last-minute fight for funding failed, leaving thousands stranded and seeking alternative transport. The struggling Icelandic airline told customers it has now ceased operation, cancelling all flights. Read more: Boeing's Ethiopian Airlines crash fallout: Everything you need to know While tickets were still being [...]
Facebook, Cambridge Analytica, and your data – a look back one year after the personal data scandal March 21, 2019 Last Sunday marked the first anniversary of newspapers breaking the story of Cambridge Analytica. The Guardian and the New York Times revealed that the British political consulting firm had been able to harvest the personal data of millions of Facebook users without permission. Cambridge Analytica had to file for insolvency just a few months after [...]