Wilko to shut final shops for good after dramatic collapse October 7, 2023 Wilko is set to shut the doors of its last high street shops for the final time as the collapse of the 93-year-old retailer comes to a close.
Carillion: Former boss banned from UK boards for eight years October 5, 2023 The former boss of failed outsourcer Carillion has been banned by the Insolvency Service from leading a business for the next eight years. Richard Howson will not be able to be a director of a UK company after the authority said he ought to have known that the way some contracts were reported “concealed the [...]
Half a million sole traders could see bankruptcy over the next year, Tide says October 2, 2023 Bankruptcy could be the future for nearly half a million sole traders in the UK over the next year, new analysis of public business data suggests. The research from the business financial platform Tide says energy bills, late payments, and “soaring” prices are to blame for an increase in financial pressure on entrepreneurs. Sales have [...]
Evergrande: Shares suspended with future of China property giant uncertain September 28, 2023 Trading in shares of Evergrande have been suspended with the chairman under police watch and the balance sheet under stress
UK growth set to slow as economy experiences ‘renewed signs of stress’, KPMG warns September 25, 2023 The UK economy will “struggle to keep its head above water” for the remainder of this year as it is experiencing “renewed signs of stress,” KPMG warned today.
Mark Kleinman: The must-read column September 21, 2023 Mark Kleinman gets the Square Mile talking in his weekly City A.M. column: this week on the CBI's latest travails, a two-horse race at Co-operative Bank and a search for a charity chair
70 per cent drop in cartel whistleblowing to CMA since 2018 should cause ‘concern’ September 17, 2023 The UK’s competition watchdog should be concerned by a 70 per cent drop in whistleblowing on illegal cartels in the last five years, top lawyers have said. A freedom of information (FOI) request from law firm RPC showed the staggering drop in reporting, down from 1,442 calls in 2017 to just 427 in 2022, City [...]
Taxpayer foots bad Covid loan bill of £7.4bn amid ‘uncomfortable level of fraud’ September 14, 2023 The government has already had to foot a £7.4bn bill to settle bad loans while banks have claimed a further £1.13bn under the schemes.
Mark Kleinman: The inquest into Wilko’s demise has only just begun September 14, 2023 Mark Kleinman is City editor at Sky News Inquest into Wilko’s demise has only just begun Few things elicit British consumers’ sentimentality like the imminent disappearance of a once-proud high street name. For Woolworths in 2009 and BHS in 2016, read Wilko in 2023. The sad fate of more than 10,000 employees at the family-owned [...]
Mark Kleinman: Wilko’s demise, the FTSE chair merry-go-round and Bink’s breakup with Barclays September 14, 2023 Mark Kleinman gets the Square Mile talking in his weekly column for City A.M.