WeWork has announced that 2,400 employees will be let go, in an effort to halt its growing losses.
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.
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.