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Tag: collapse

Second administrator to scrutinise Laura Ashley collapse | Business

The pensions rescue service has forced the appointment of a second administrator to scrutinise the finances of Laura Ashley prior to its collapse into administration in March. The new administrator, FRP Advisory, is also likely to investigate the role of the fashion chain’s former directors, including the chairman and chief executive Ng Kwan Cheong, who …

Second administrator to scrutinise Laura Ashley collapse | BusinessRead More

Carluccio’s and BrightHouse collapse into administration | World news

The Italian restaurant chain Carluccio’s and rent-to-own retailer BrightHouse both collapsed into administration on Monday, putting about 4,400 jobs at risk, in the first sign of the government’s coronavirus lockdown biting the high street. Geoff Rowley, of FRP Advisory, who was appointed administrator of Carluccio’s on Monday, said he was hoping to mothball the business …

Carluccio’s and BrightHouse collapse into administration | World newsRead More

Intu warns of breach in debt commitments as retail rents collapse | Business

Intu Properties, one of Britain’s biggest shopping centre owners, has said it will breach the terms on its debt commitments following a collapse in the rents received from its retail tenants unless it can secure debt waivers from its lenders. The owner of the Trafford Centre in Manchester and Lakeside in Essex said it had …

Intu warns of breach in debt commitments as retail rents collapse | BusinessRead More

Adidas and Puma sales collapse in China amid coronavirus outbreak | Business

Adidas and Puma have reported a collapse in sales in China as a result of the coronavirus outbreak and warned disruption was spreading to other markets. Adidas said its first-quarter sales would be down by as much as €1bn (£870m) in Greater China and about €100m in Japan and South Korea. The slump would lead …

Adidas and Puma sales collapse in China amid coronavirus outbreak | BusinessRead More

Beales department store chain close to collapse | Business

The department store chain Beales is on the brink of collapse and must find a buyer within days, with about 1,000 jobs at risk if the historic retailer does not complete a rescue deal. Beales, which began trading in Bournemouth in 1881, has filed notice of its intention to appoint administrators, as the retailer considers …

Beales department store chain close to collapse | BusinessRead More

Peacocks chain set to rescue Bonmarché from collapse | Business

At least 30 Bonmarché stores are to close next month with the loss of about 240 jobs, as previous owner Philip Day prepares to buy back the remaining chain out of administration. The Peacocks chain, which is part of Day’s Edinburgh Woollen Mill group, has been named by administrators at FRP advisory as preferred bidder …

Peacocks chain set to rescue Bonmarché from collapse | BusinessRead More

Mike Ashley tells MPs to investigate collapse of Debenhams | UK news

Mike Ashley has stepped up his campaign for an investigation into the collapse of Debenhams, claiming MPs are more interested in their own PR than rooting out corporate wrongdoing. In a two-page letter to the MP Rachel Reeves, seen by the Guardian, the Sports Direct chief executive wrote: “No one in parliament seems sufficiently interested …

Mike Ashley tells MPs to investigate collapse of Debenhams | UK newsRead More