Scandal ridden Credit Suisse sees £1.6bn loss in latest quarter February 10, 2022 Credit Suisse's latest financial results were dragged by legal woes and a slowdown at the bank's investment and wealth management arms.
Treasury’s £4.3bn fraud write-off likely to be eclipsed by £20bn Covid loan defaults as CBILs and BBLs are not repaid February 8, 2022 The £4.3bn of Covid loans that may have to be written-off by The Treasury due to fraud and highlighted by the recent resignation of Lord Agnew, could be eclipsed by businesses failing to repay their CBILs and BBLs Covid support loans, an industry expert warns. £73.8bn has been loaned under the above schemes to around [...]
Regional publisher Newsquest in exclusive takeover talks with rival Archant February 7, 2022 The publisher of newspapers The Herald and Northern Echo has entered exclusive takeover talks with its rival Archant as it looks to begin a consolidation of the UK’s regional news market.
Exclusive: Building suppliers issued the most petitions during the pandemic February 2, 2022 Building suppliers dished out the most winding-up petitions to companies owing them cash during Covid, exclusive data has revealed. Audit, tax and advisory firm Mazars said building suppliers made up 28 per cent of all winding-up petitions filed since February 2020. During the pandemic, troubled construction firms often failed to pay owed cash to merchants. [...]
Treasury brings in super tax to prevent energy owners cashing out February 1, 2022 The Government has subtly introduced a new "super tax" to deter energy company owners from cashing out lucrative gas contracts.
Businesses brace for insolvency storm as Covid aid winds down January 28, 2022 Over half a million UK businesses are struggling financially amid soaring inflation and the rollback of government Covid-19 support.
Embattled Amigo appoints charted accountant as interim CFO after lender’s most dramatic week ever January 28, 2022 Amigo Holdings said this morning it has appointed that Danny Malone will be appointed on an interim basis as Chief Financial Officer, subject to approval by the FCA. The appointment as CFO is expected to take effect from 7 February 2022 and will be for a four month period. As the appointment is on an [...]
Corbin & King ‘under siege’ from investor Minor International January 27, 2022 The founder of the restaurant chain behind the Wolseley has reassured customers the business is in “rude financial health” after it was plunged into administration this week. Administrators from FRP were appointed for Corbin & King earlier this week, although the chain’s restaurants have continued to trade. Founder Jeremy King has now hit back once [...]
Live to fight another day: Amigo Loans’ stock makes much-needed 22 per cent comeback after two days from hell January 26, 2022 Amigo Loans share price is climbing this morning, recording a 22 per cent increase after two dramatic days. Yesterday, the lender’s stock dropped nearly a third after the company said late on Monday night that its chief financial officer, Mike Corcoran, will step down immediate effect. “The Company anticipates it will be able to announce the [...]
Wolseley owner Corbin & King goes into administration amid icy tensions with shareholder January 26, 2022 The firm behind high-end London restaurants including the Wolseley and the Delaunay has fallen victim to the pandemic and entered into administration. Administrators from FRP have been appointed for Corbin & King, it was reported last night. Daily operations will not be impacted and restaurants will continue trading. Hospitality venues in the capital have struggled [...]