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The Latest Breaking News from Julie Palmer

Almost 50,000 firms near collapse amid strain from tax hike, report claims

Labour-intense companies in particular have felt the impact

The Independent UK

Almost 50,000 firms near collapse amid ‘immense strain’ from tax hike – report

A report by Begbies Traynor found firms in critical financial distress rose by more than a fifth to 49,309 in the second quarter.

Evening Standard

Travel group Tui grows sales as tailor-made package holidays take off

The German business said people are prioritising their holidays ‘even in times of change and economic risks’.

The Independent UK

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UK firms ‘could be pushed over edge’ after record rise in financial distress

Consumer-facing sectors such as hotels, leisure and retailers have particularly been under pressure, advisory firm Begbies Traynor said.

Evening Standard

Number of UK retailers on brink of collapse soars by 25%

Report for final three months of year shows pressure driven by rising costs and weak consumer confidence

The Guardian - UK

UK retailers on brink of collapse surges by a quarter, report warns

The strain on the retail sector follows new data showing a drop in the number of people heading to the shops during Boxing Day sales.

The Independent UK

More UK retailers in critical financial distress; fashion brand Quiz needs more funding soon – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

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London bears the brunt of 'perfect storm' ripping through UK business in 2024

Influential 'Red Flag' report from Begbies Traynor cites rising interest rates, soaring costs and faltering consumer confidence

Evening Standard

More than 47,000 UK businesses on ‘brink of collapse’, warn insolvency experts

25% jump in firms facing ‘critical’ financial distress, with property and construction sectors featuring heavily, says Begbies Traynor

The Guardian - UK

More firms going bust in England and Wales than since 2009

The construction, retail and hospitality sectors are among the hardest hit, Government figures show.

The Independent UK

Doubts emerge over Worcester Warriors takeover as Atlas Group look to revive stricken club

Deal to buy rugby club not yet complete despite administrators signing off purchase

Evening Standard

Army cadet officer feared losing place at Sandhurst before death, inquest hears

Olivia Perks was discovered dead at Sandhurst military academy in Berkshire in February 2019.

The Independent UK

Warriors taken over by consortium including ex-Worcester chief executive Jim O’Toole

The club entered administration earlier this season, resulting in their expulsion from the Gallagher Premiership.

The Independent UK

Warning thousands of businesses face collapse as cost of living nightmare continues

There are growing fears that 2023 could see a wave of company collapses as the cost of living crisis continues, as many business owners say running their firms has felt "never-ending nightmare"

Daily Mirror

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The Independent UK

Administrators begin task of finding a buyer for Worcester Warriors

Warriors are currently suspended from playing in all competitions

Evening Standard

Royal Mail ponders break up as it loses £1m a day

ROYAL MAIL plunged to a dramatic loss and embarked on another corporate rebrand as it headed into a summer of strikes by unhappy workers.

The Independent UK

Boohoo records £117 million drop in profits due to Covid

The fashion giant said high return rates, lower consumer demand and pandemic-related issues were reasons for the drop in profit

Evening Standard

Grim outlook as danger signals go red and confidence crashes

THE extent of the financial pain facing millions of Britons was laid bare today with figures showing that business confidence in plunging and financial distress signals for companies and individuals are flashing red.

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Daily Mirror

Hundreds of UK firms at risk of collapse as Covid loan repayments kick in

In the first three months of this year there was a 19% rise in businesses in critical financial distress compared to the start of 2021 as a perfect storm of national insurance and energy price increases kicked in with loan repayments

The Independent UK

Creditors head to court as businesses struggle with debts, report shows

Begbies Traynor said companies are bracing for the ‘full force of debts to hit’.

People

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