Would a £10bn VAT cut really save hospitality? June 20, 2026 Calls for the government to slash VAT on hospitality firms have been backed by pub and restaurant bosses, and Prime Minister hopeful Andy Burnham. What would this tax break really mean for the economy? The UK’s pubs, hotels and restaurants say they are at breaking point. Higher business rates, hikes to national insurance and minimum [...]
From bathroom to courtroom: Lush chief’s squabble set to fizz in £6m trial June 17, 2026 The former chief executive of cosmetics giant Lush is set to face off against the current chief executive in a 19-day trial that spans more than 30 years of the company’s history and may cost over £6m in legal fees. The dispute stems from former chief executive Andrew Gerrie’s 2014 exit from the company, after [...]
Ex-Lush chief’s lawyers hike costs to ensure their AI model isn’t trained by juniors June 16, 2026 Lawyers for the former chief executive of cosmetics giant Lush, Andrew Gerrie, have hiked their fees ahead of a trial this month, partly as they will not allow junior staff to train their AI model, City AM can reveal. A court heard this morning that Gerrie’s legal team from Brown Rudnick have pushed up a [...]
Thames Water on cusp of public ownership after ‘weak’ deal June 16, 2026 Thames Water is on the cusp of being placed in temporary public ownership after the government raised concern with a proposed £10bn rescue by its lenders. It was reported last night that the environment secretary Emma Reynolds had outlined a number of concerns to the industry regulator Ofwat ahead of a final decision on the [...]
Westlake Expands Global Chlorovinyls Manufacturing Capacity With Acquisition of PVC and VCM Plants in Wilhelmshaven, Germany June 15, 2026 Westlake Corporation (NYSE: WLK) (“Westlake”) announced today that its German subsidiary, Westlake Vinnolit GmbH & Co. KG, has completed the previously-announced acquisition of a polyvinyl chloride and vinyl chloride monomer production site located in Wilhelmshaven, Germany (the “Wilhelmshaven plant”). The Wilhelmshaven plant, which was previously in insolvency administration, has the capacity to produce 380,000 metric [...]
Real estate firms going bust at record rate as property market slumps June 10, 2026 Real estate companies are going bust at the fastest rate seen in a decade, City AM can reveal, in a further sign that the UK’s property market is taking a battering. As many as 762 real estate-related businesses have become insolvent in the UK since the start of the year, a City AM analysis of [...]
On this day: Britain’s first banking crisis June 8, 2026 On 8 June 1772 Alexander Fordyce, a partner at Neale, James, Fordyce and Down absconded to France to escape crippling debts caused by a sharp rise in shares in the East India Company, writes Eliot Wilson As 1772 opened, Alexander Fordyce seemed like a wealthy and successful man. He was 42 years old, a partner [...]
Lex Greensill banned as company director for nine years after multi-billion-pound collapse June 4, 2026 The UK Insolvency Service has confirmed that financier Lex Greensill will face a nine-year ban from serving as a company director, after he signed a legally binding disqualification undertaking to resolve long-running enforcement proceedings just days before a scheduled High Court trial. The Insolvency Service, which opened its probe into him in 2022, filed a [...]
TG Jones owner Modella puts jobs at risk in shoe retailer overhaul June 2, 2026 Modella Capital is set to put hundreds of jobs on the line as it pursues its latest drastic restructuring, this time of northern shoe seller Wynsors World of Shoes. The private equity firm which owns hundreds of former WH Smith stores has briefed staff on its plans for an overhaul at the shoe retailer it [...]
Family-owned Tottenham brewer falls into administration as industry pressures mount May 28, 2026 A beloved family-owned Tottenham brewery that was a key player in London’s craft beer renaissance has fallen into administration amidst mounting cost pressures on the industry. Redemption Brewing Company, which was the first commercial brewery to open in Tottenham in nearly 100 years, is officially listed on the formal register of new insolvency appointments as [...]