You(No Longer)Work: Job losses at workspace provider WeWork
WeWork has announced that 2,400 employees will be let go, in an effort to halt its growing losses.
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January 15, 2020
Bedtime for Mothercare: Mothercare closes down in the UK
Mothercare has entered administration, closing all UK stores, with its consequences potentially affecting Mamas & Papas. Mothercare previously issued profit warnings and had entered a Company Voluntary Arrangement in June 2018 to reduce rental payments for their store leases after suffering financial difficulties.
November 28, 2019
Shoulda, Woodford, Coulda: Woodford Investment Management set to close
Woodford Investment Management, an investment management firm, is closing, following a series of bad investments.
November 7, 2019
No Way to Dress up a Company’s Struggles: Monsoon Accessorize still in a critical condition
Despite Monsoon Accessorize’s company voluntary arrangement (CVA) being approved in July, accounts filed at Companies House show that the company is still in critical condition. The CVA will see rent reductions taking place for 135 of their 258 UK stores.
November 5, 2019
QuickQuid’s Quick Split: Payday lender exits UK market
Payday lender QuickQuid has decided to pull out of the UK market, citing regulatory uncertainty after having failed to reach a satisfactory conclusion in negotiations with UK regulators.
November 4, 2019
The Dough Deflates: Pizza Express struggles with £1.1 billion debt pile-up
Pizza Express is facing financial struggles with a debt pile of £1.1 billion as a result of increased competition, overly-ambitious overseas openings and a lack of innovation.
October 25, 2019
We(Still)Don’tWork: WeWork’s initial public offering withdrawn after lacklustre investor response
WeWork owner, the We Company, has formally withdrawn its plan for an initial public offering (IPO).
October 2, 2019
Permanently Grounded: Travel giant Thomas Cook collapses
British global travel group Thomas Cook has filed for bankruptcy after rescue talks fell through. The company’s fall from grace initially meant 150,000 British tourists were stranded abroad and it left others with nothing to show for their pre-booked holiday plans. It is also thought to have cost 9,000 British employees their jobs.
October 1, 2019
Live to Fight Another CVA: Mike Ashley funds legal challenge against Debenhams’ CVA
Sports Direct’s owner, Mike Ashley, is funding a legal challenge against the company voluntary arrangement (CVA) between Debenhams and its landlords.
September 19, 2019
WeDon’tWork: The real estate company WeWork looks to launch an IPO
WeWork, the office sharing company which leases office space globally to professionals, small businesses and even Fortune 500 companies, is falling apart as it prepares for its Initial Public Offering (IPO) on the Nasdaq stock market in New York.
September 19, 2019