75% of UK hospitality businesses at risk of insolvency

Manolete Partners plc (LON:MANO), the leading UK-listed insolvency litigation financing company, has announced its unaudited results for the six months ended 30 September 2020. Financial highlights: ·      Revenue growth of 153% to £19.0m (H1 FY20: £7.5m); ·      Gross

Almost two-thirds of all businesses could be at risk of insolvency, according to official figures that reveal the UK could suffer “a flood” of bankruptcies over the coming months. The Office for National Statistics (ONS) said

Nearly 200 airports across the UK and Europe are at risk of going bust within months due to the dramatic collapse in air travel caused by the coronavirus pandemic, the European airports trade body warned on Tuesday. Airports

A month-on-month rise in the number of corporate insolvencies in England and Wales may indicate that businesses which were healthy and profitable pre-COVID-19 are now starting to struggle. This is according to the Midlands branch of

The owner of Edinburgh Woollen Mill, the Scottish heritage brand that makes Harris Tweed coats and cashmere sweaters, has warned of major job cuts as it struggles to save the business from collapse. EWM Group, owned by retail entrepreneur Philip

Some 69% of hospitality and leisure operators are having to weigh up insolvency or a restructure with current rent levels remaining unaffordable for the vast majority of companies, new research has found. Commercial lease restructuring firm

Britain’s high streets could suffer a “knockout punch” following a second wave of Covid-19 as landlords and developers are forced to close down as much as 12m m2 of retail space and seek alternative tenants. With many

1. Aldo Shoe chain Aldo collapsed into administration after its Canadian parent firm Aldo Group drafted in administrators at insolvency specialists RSM. Aldo has announced that five out of its 13 UK shops will not reopen 2. Debenhams

Coronavirus could potentially cost one million jobs in Britain this year, with most losses anticipated during the current third quarter, according to a study published on Monday. Job losses could hit 450,000 between July and September,

Manolete Partners plc (LON:MANO), the leading listed insolvency litigation financing firm in the UK, has announced a trading update and the successful completion of one of the larger cases in its portfolio of UK insolvency claims.

Pizza Express moved closer yesterday to securing its future after creditors approved the first step in a restructuring that will cost up to 1,100 jobs. Landlords voted to let the chain complete a company voluntary arrangement (CVA),

nsolvencies in the UK are set to jump 27 per cent this year as the fallout from the coronavirus continues, according to Atradius. The credit insurer said that the growth in companies going bust will outpace

More than a quarter of Scottish hospitality and tourism businesses could go bust with 58,000 jobs being lost as a result of coronavirus, academics have suggested. Researchers analysed two decades of financial statements from companies in

The Zurich-based parent company of student and youth travel specialist STA Travel is to appoint an external administrator. STA Travel Holdings AG says “day to day“ operations in the UK are unaffected and that this process only affects

UK insolvency and restructuring experts have been bombarded for months, as industries hardest hit in the pandemic have suffered an onslaught of company failures and emergency refinancings. But specialists across accountancy, investment banking and law are

One in 10 UK firms have said they are at risk of becoming insolvent because of the coronavirus crisis with 40 per cent admitting they have less than six months worth of cash reserves in the bank.   The

New research has found that one in three businesses across the UK expect to make job cuts by October as the Covid-19 crisis takes a toll on the economy. At least 33 per cent of 2000 businesses

More than two-fifths of debt experts questioned by insolvency and restructuring trade body R3 believe that personal insolvency numbers will increase significantly in the next 12 months. Over eight in ten respondents to an R3 survey