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28th September 2020
Upmarket Italian restaurant Gusto has become the latest chain to complete a Creditors Voluntary Arrangement (CVA). The group says that the move will secure the chain’s long-term future. Agreed by 98% of Gusto’s creditors, the […]
14th September 2020
Pizza Express will close 73 UK restaurants, including sites in Bramhall and Glossop, after the company’s creditors agreed to a Creditors Voluntary Arrangement (CVA). The move, which puts more than 1,000 jobs at risk, will […]
7th August 2020
More than three-quarters of UK hospitality businesses are at risk of insolvency within 12 months according to a leading trade body. A survey from UK Hospitality showed that social distancing measures and local lockdowns were […]
3rd August 2020
The coronavirus pandemic has had a significant impact on personal finances. Some families have managed to save on things like commuting and eating lunch at work, but others have been forced to cut back on […]
16th July 2020
A significant majority of restructuring and insolvency professionals expect the number of company insolvencies to increase, according to a survey conducted by insolvency trade body R3. A whopping 94% of corporate insolvency and restructuring experts […]
25th June 2020
The VAT deferral scheme, which allowed businesses to defer VAT payments, will not be extended, meaning that all payments will need to be made in full and on time from 1 July. Launched as part […]
22nd June 2020
British households are expected to rack up debts worth a combined £6bn during the coronavirus health crisis, StepChange claims. As millions fall behind on credit card payments, council tax and utility bills, the debt advice […]
11th June 2020
Major restructuring projects in several restaurant and retail groups is expected to cost 3,600 jobs in the UK. The Restaurant Group, which owns Frankie and Benny’s will be responsible for up to 3,000 job losses […]
8th June 2020
Households repaid £7.4 billion in credit card and loan debt in April as the Bank of England recorded the biggest ever monthly fall in consumer debt. Lockdown effectively limited consumer activity in April, meaning that […]
22nd May 2020
New insolvency legislation has been introduced to protect businesses that are struggling to cope with the economic impact of the coronavirus pandemic. The Corporate Insolvency and Governance Bill is designed to protect ‘otherwise viable’ companies […]