The Midlands firm has gone into administration, sunk by a £300,000 tax bill. How many more heritage brands will follow?
The high street has seen better days, with insolvencies and store closures arguably being the biggest highlights of June 2018.
Mothercare and Carluccio’s have become the latest in an increasingly long line of high street names to propose Company Voluntary Arrangements (CVAs) involving significant site closures and rent reductions.
After running into financial difficulties in 2017, Carillion has gone into liquidation. While often bandied around in the news, it’s not a term you’ll find explained, which has left some to ponder the difference between words such as liquidation and administration.
Following the news that Agent Provocateur went into administration, with an immediate “pre-pack” sale of the business and assets to a buyer backed by Mike Ashley, it has emerged that unsecured creditors are likely to receive 2.9 pence for every pound they are owed.
The co-founder of British lingerie brand Agent Provocateur has attacked the private equity backers which bought his business, saying the firm “will never recover” from letting it slide into administration.
Following the collapse of BHS this summer, the long-standing British retail business embarked on a digital-only comeback in September as BHS.com, so here’s an assessment of the relaunched website from a design and user experience point of view.
Having gone into administration in April, and closed the doors at its last shop in August, BHS has announced it will relaunch as an online only brand.
As the number of businesses reaching the date when auto-enrolment duties start, known as the staging date, Real Business has produced a comprehensive checklist to ensure business leaders are not forgetting anything.
Company secretaries and compliance officers may be forgiven for the apparent lack of preparedness to the implementation of the new Market Abuse Regulation (MAR), which came into effect on 3 July 2016.
With the recent news that Deloitte warned staff at UK mobile commerce company Powa Technologies to not give intellectual property to former management, it raises the question: how can firms protect the business when going into administration?
Our Everline Future 50 initiative has a strong track record of identifying particularly disruptive software services aimed at the business community, and 2016 entrant TIQ is not different with its innovative take on solving administration headaches.