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Tag: rescue

Poundstretcher could close half its stores under rescue deal | Business

Poundstretcher could close nearly half its stores in six weeks’ time, with 2,000 jobs at risk, after landlords and other creditors approved a rescue restructure. Rents will be cut by up to 40% on 84 stores and held at current rates on 94 stores under the insolvency process known as a company voluntary arrangement (CVA) …

Poundstretcher could close half its stores under rescue deal | BusinessRead More

Milk floats ride to the rescue of locked-down British households | World news

The humble milkman – a regular sight on most British streets throughout the 20th century – was almost consigned to the history books by the rise of the supermarkets. But now, thanks to the coronavirus pandemic, these dairy deliverers on their electric floats are busier than ever as they try to keep up with newfound …

Milk floats ride to the rescue of locked-down British households | World newsRead More

Coronavirus: Emergency business rescue package revealed | News

Businesses will be able to contact Revenue and Customs for grants to cover the wages of those not working but furloughed or kept on retention.  The grant is available to any UK business and will cover 80% of salaries for workers for up to £2,500 a month.  They will be backdated to 1 March and …

Coronavirus: Emergency business rescue package revealed | NewsRead More

Card retailer Clintons seals rescue deal that saves 2,500 jobs | Business

Clintons, the card retailer, has been bought out of administration in a deal that safeguards 2,500 jobs. The pre-agreed deal with the chain’s existing US owners comes after Clintons failed to win support from landlords for an insolvency procedure known as a company voluntary arrangement (CVA) under which it wanted to cut rents and close …

Card retailer Clintons seals rescue deal that saves 2,500 jobs | 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

We shouldn’t be too sceptical about rescue of Thomas Cook shops | Business

The package holiday market is dead and nobody under 40 goes to a travel agent, declared Michael O’Leary after the failure of Thomas Cook. So one must assume the Ryanair boss would diagnose an extreme case of naïvety at Hays Travel, the Sunderland-based, family-owned firm that has emerged as the surprise rescuer of 555 Thomas …

We shouldn’t be too sceptical about rescue of Thomas Cook shops | BusinessRead More