Rail strikes had ‘deeper than expected’ impact on bars December 19, 2022 Rail strike chaos over the past week had a worse impact than anticipated on clubs and bars, according to one industry group leader. Rail staff walked-out over pay and conditions last week, with dates falling on Tuesday, Wednesday and Friday and Saturday. Hospitality bosses had urged union leaders and rail firms to hash out a [...]
City Moves: Who’s switching jobs in the Square Mile? December 15, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. PKF Littlejohn Canary Wharf-based accountancy firm PKF Littlejohn has appointed an insolvency, credit and debt veteran its lead its new creditor services team. James Linton, who brings over 15 years of experience to the role, will help [...]
Bankruptcy specialists prepare for boom as economic headwinds hit UK firms December 13, 2022 Corporate restructuring specialists Begbies Traynor and FRP Advisory are expecting a boom in demand for their services in the oncoming economic slump. The advisory businesses are expecting to profit from a surge in insolvencies as worsening economic headwinds start sinking more UK firms. Begbies Traynor’s executive chairman Ric Traynor told City A.M. the consultancy stands [...]
Insolvency specialist Begbies Traynor notches jump in profits as bankruptcies soar December 13, 2022 Insolvency specialist Begbies Traynor said it expects to see demand for its corporate recovery services swell next year as recession begins to bite, after it posted a £2.3m rise in pre-tax profits in its first half of trading today.
FTX founder Sam Bankman-Fried arrested in the Bahamas December 13, 2022 Sam Bankman-Fried - founder of the collapsed FTX exchange - has been arrested at his home in the Bahamas.
Former Wirecard boss files motion to suspend trial December 12, 2022 Lawyers have called for the criminal trial of the former Wirecard boss Markus Braun to be suspended after prosecutors were accused of ignoring evidence. Braun’s lead lawyer Alfred Dierlamm dismissed allegations of wrongdoing, deeming claims against his client as “absurd,” calling for prosecutors to re-examine key parts of the case. Braun and two other Wirecard managers [...]
Joules bought out of insolvency by Next with 19 stores to close December 1, 2022 Next has bought fashion retailer Joules out of insolvency, beating other high street names in a bidding war. The high street chain called in administrators a few weeks ago, with 1,600 jobs hanging in the balance. Now, stalwart Next has confirmed it has emerged victorious in a battle for the brand, forking out £34m for [...]
Retail sales fall off cliff in November in sign of Christmas spending slump November 28, 2022 Retail sales have fallen off a cliff, pushed by consumers reining in spending as scorching inflation eats away at their finances, a new survey out today reveals. A net 19 per cent of retailers said spending fell over the year to November, down from a net rise of 18 per cent in October, according to [...]
FTX run as ‘personal fiefdom’ for Bankman-Fried, say lawyers November 22, 2022 Lawyers representing collapsed crypto exchange FTX said the firm was “effectively run as a personal fiefdom” for founder Sam Bankman-Fried today, as court documents showed the firm had splurged nearly $121m in property in the past two years.
FTX bankruptcy team finds more than £1bn across Bankman-Fried’s crypto empire November 22, 2022 The team overseeing the bankruptcy of collapsed crypto exchange FTX has managed to located more cash held by Sam Bankman-Fried’s sprawling crypto empire, bringing the total to $1.24bn (£1.04bn).