Sequoia swoops in to switch administrator of Bulb’s parent company November 24, 2021 Sequoia dramatically switched the administrators of Bulb's parent company as it looks to reclaim £55m owed by the doomed energy supplier.
Together Energy rushes to secure more funding as energy crisis deepens November 24, 2021 A council-backed supplier is working with Avro Energy’s administrators to secure new funds amid a deepening industry crisis.
Government warned private parking plans can lead to ‘carmageddon’ of illegal parkers November 22, 2021 Government plans to cap private parking fines may results in car parks could be overrun by a “carmageddon” of illegal parkers, industry experts have warn this morning. The Government has been consulting on plans to reduce the cap on private parking fines from £100 to £50 across the UK after raising “concerns about the practices [...]
Last Orders: Restaurant insolvencies jump 31 per cent amid rising expenses November 22, 2021 Restaurant insolvencies rise by 31 per cent as costs rise ahead of customer demand in a post-lockdown economy.
Fuel Power: Ministers could gain control of downstream oil amid petrol price crisis November 12, 2021 A cross-party group of MPs has conditionally backed a government bill giving ministers control over the downstream oil industry. The Business, Energy and Industrial Strategy (BEIS) committee has lent its support to government plans allowing ministers to take control of importing, storing and supplying petroleum products in the UK. Powers include the right to request [...]
LK Bennett to offer customers crypto cash back November 9, 2021 Kate Middleton could soon be among shoppers being offered crypto cash back with LK Bennett poised to launch a Bitcoin rewards scheme. The luxury fashion brand, which is a favourite of the Duchess of Cambridge, has announced a partnership with the open-banking payments platform Mode to provide customers with crypto rewards. LK Bennett’s customers will [...]
Under-fire Liberty Steel owner Sanjeev Gupta faces French investigation November 8, 2021 French authorities are investigating Sanjeev Gupta’s business dealings, according to The Financial Times. Gupta is the chairman and CEO of GFG Alliance, which specialises in mining, industry and trading. The firm has been struggling with rising energy costs and the collapse of Greensill Capital which funded many of its acquisitions worldwide. The Paris Prosecutor’s Office [...]
Soaring travel agent insolvencies just ‘the tip of the iceberg’ November 7, 2021 Insolvencies of UK travel agents and tour operators have leaped in the last year. Audit and tax firm Mazars said insolvencies jumped 17 per cent from 59 to 69. In July, sector insolvencies rose from one to nine. Experts have pointed to the end of furlough as something that could place additional pressure on the [...]
BEIS committee calls for sector deal to protect steel industry November 5, 2021 The government must establish a new steel sector deal to ensure the UK industry remains competitive, says the business, energy and industrial strategy (BEIS) committee. In its latest report, the committee argues it could resolve long-running issues in the sector such as high energy prices and barriers to supplying steel for major public projects. The deal could [...]
David Beckham’s partner for Seven Global joint venture close to financial collapse November 1, 2021 David Beckham’s joint venture partner is reportedly teetering on financial collapse, which could see the football player gain full control of shared firm Seven Global. Partner GBG International Holding Company, which owns 51 per cent of the consumer products licensing business, is mulling the decision to appoint Teneo Restructuring as administrator, Sky News’ Mark Kleinman [...]