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....The German interior minister, Thomas de Maizière, on Friday described the attack as “driven by a particularly abominable form of greed”. Borussia Dortmund, whose club name references the New Latin word for Prussia, became the first German football to float on the stock market in 2001 – an experiment that brought the club to the brink of bankruptcy. ... [Read full article on Guardian ]
Friday 21st of April 2017 04:36:02 PM
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....Trump may have fronted the announcement of an investigation into whether foreign imports of steel compromise US national security, but for Ross the ruinous impact of cheap imports is a wound that he has struggled to close for almost two decades. It was in the early 2000s that the former bankruptcy specialist made his most notable coup, bringing together LTV Steel, Acme Steel and Bethlehem Steel under the name International Steel Group. ... [Read full article on Guardian ]
Sunday 23rd of April 2017 06:00:05 AM
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.... . Nicholas Hyett, equity analyst, Hargreaves Lansdown said Sports Direct had picked up a "bargain out of bankruptcy proceedings". ... [Read full article on BBC ]
Friday 21st of April 2017 08:32:02 AM
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....Sports Direct has drawn fire from analysts after it entered the US market by buying two loss-making chains for $101m (£78m). The retailer said on Friday it had received approval from Delaware bankruptcy court to buy 50 stores trading as Bob’s Stores and Eastern Mountain Sports through the bankruptcy process of Eastern Outfitters, the chains’ parent company. ... [Read full article on Guardian ]
Friday 21st of April 2017 03:41:12 PM
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....For many former BHS staff, Green remains the villain of the piece. In 2015 he sold BHS, complete with a hefty pension deficit of more than £500m, for £1 to a consortium of investors led by former bankrupt Dominic Chappell, seemingly without a qualm. ... [Read full article on Guardian ]
Saturday 22nd of April 2017 03:00:17 PM
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.... Under Wright’s leadership, the committee has done what it’s supposed to do: selected a few juicy bones and chewed for all it’s worth. The grubby tale of Green’s sale of BHS to a thrice-bankrupt retailing novice was illuminated when the business committee, alongside Frank Field’s work and pensions committee, summoned the main players and called for documentary evidence. ... [Read full article on Guardian ]
Wednesday 19th of April 2017 06:12:57 PM
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Latest Finance News related to Bankrupt

Low rates, tight margins: the mortgage market looks worryingly familiar image
....Trump may have fronted the announcement of an investigation into whether foreign imports of steel compromise US national security, but for Ross the ruinous impact of cheap imports is a wound that he has struggled to close for almost two decades. It was in the early 2000s that the former bankruptcy specialist made his most notable coup, bringing together LTV Steel, Acme Steel and Bethlehem Steel under the name International Steel Group. ...
BHS crash sets trend for a chain of closures on UK high streets image
Source : Guardian [Read Article] Saturday 22nd of April 2017 03:00:17 PM
Dortmund attack: man arrested on suspicion of share-dealing plot image
Source : Guardian [Read Article] Friday 21st of April 2017 04:36:02 PM
....The German interior minister, Thomas de Maizière, on Friday described the attack as “driven by a particularly abominable form of greed”. Borussia Dortmund, whose club name references the New Latin word for Prussia, became the first German football to float on the stock market in 2001 – an experiment that brought the club to the brink of bankruptcy. ...
Sports Direct's £78m move into US retail stuns analysts image
Source : Guardian [Read Article] Friday 21st of April 2017 03:41:12 PM
....Sports Direct has drawn fire from analysts after it entered the US market by buying two loss-making chains for $101m (£78m). The retailer said on Friday it had received approval from Delaware bankruptcy court to buy 50 stores trading as Bob’s Stores and Eastern Mountain Sports through the bankruptcy process of Eastern Outfitters, the chains’ parent company. ...
Sports Direct breaks into US market image
Source : BBC [Read Article] Friday 21st of April 2017 08:32:02 AM
.... . Nicholas Hyett, equity analyst, Hargreaves Lansdown said Sports Direct had picked up a "bargain out of bankruptcy proceedings". ...
Government cap on energy prices would spark backlash | Nils Pratley image
Source : Guardian [Read Article] Wednesday 19th of April 2017 06:12:57 PM
.... Under Wright’s leadership, the committee has done what it’s supposed to do: selected a few juicy bones and chewed for all it’s worth. The grubby tale of Green’s sale of BHS to a thrice-bankrupt retailing novice was illuminated when the business committee, alongside Frank Field’s work and pensions committee, summoned the main players and called for documentary evidence. ...
Did you lose your job when BHS went into administration? image
Source : Guardian [Read Article] Tuesday 18th of April 2017 04:44:09 PM
.... This is a better outcome than if the BHS pension scheme had entered the Pension Protection Fund, a lifeboat for failed pension schemes, where workers would have received an estimated 75% to 79%. The 88-year-old retailer failed when it ran out of money a year after it was sold by Sir Philip Green to the serial bankrupt Dominic Chappell for £1. ...
Two-thirds of BHS stores lie empty as anniversary of collapse nears image
Source : Guardian [Read Article] Sunday 16th of April 2017 03:30:44 PM
....BHS went into administration on 25 April 2016 with the loss of 11,000 jobs. The 88-year-old retailer failed when it ran out of money a year after it was sold by Sir Philip Green to the serial bankrupt Dominic Chappell for £1. ...
Walking dead image
Source : BBC [Read Article] Sunday 16th of April 2017 08:34:11 AM
....Want more proof of zombies? Not a single publicly-listed Japanese firm went bust last year. In fact, overall bankruptcies have fallen for eight years in a row. ...
How the beery vision of brewing a small fortune can fall flat image
Source : Guardian [Read Article] Saturday 15th of April 2017 08:59:21 AM
....Rebel Brewing was bought out of administration and is up and running again, but Lowe is not involved. Another brewer, who asked not to be named, fears he will end up in bankruptcy court after his business failed, causing friction with family and friends. ...
Toshiba's US nuclear problems could provide cautionary tale for UK image
Source : Guardian [Read Article] Friday 14th of April 2017 07:00:27 AM
....Construction work on the units has run hugely over budget and over schedule, casting a shadow over two of the biggest new nuclear power station projects in the US for years. Events came to a head last month when Westinghouse was forced to file for bankruptcy protection to limit Toshiba’s losses. ...
BHS workers share £1m payout over failed redundancy process image
Source : Guardian [Read Article] Friday 14th of April 2017 06:59:27 AM
....When BHS collapsed into administration a year ago, with the loss of 11,000 job losses, it was the biggest high-street failure since that of Woolworths, which went into administration in 2008. The retailer had been owned by Sir Philip Green for 15 years until he sold it to Dominic Chappell, a former bankrupt, for just £1 in March 2015. ...
Toshiba warns over its survival as it forecasts £7bn losses image
Source : Guardian [Read Article] Tuesday 11th of April 2017 03:36:52 PM
....Toshiba, one of the biggest names in consumer electronics, has warned it is facing annual losses of more than £7bn and the future of the company is in doubt as a result of financial turmoil at its nuclear power plant construction business. The Japanese company finally released third quarter results, after twice delaying publication while auditors attempted to quantify the scale of the problems at Toshiba’s US nuclear engineering subsidiary Westinghouse, which filed for bankruptcy last month. ...
Corbyn attacks M&S and other big firms over late supplier payments image
Source : Guardian [Read Article] Tuesday 11th of April 2017 11:13:04 AM
....Amanda Milling, a Conservative member of the Commons business, energy and industrial strategy select committee, said Labour’s pledge to borrow to invest £500bn would “crash the economy, just like they did last time”. In remarks on Tuesday that anticipated some of the criticism, Corbyn said: “The prime minister frequently accuses me of wanting to bankrupt Britain by borrowing money to fund investment. ...
Toshiba files unaudited results and says future is in doubt image
Source : BBC [Read Article] Tuesday 11th of April 2017 08:33:57 AM
....Its problems came to a head again in January this year, when it became clear its US nuclear unit, Westinghouse, was in financial trouble. Westinghouse was put into Chapter 11 bankruptcy in March, which protects it from creditors while it undergoes restructuring. ...
The Crusader: Trader falls victim to debt collector trying to get back money owed image
....”. A legal expert Crusader asked to look at Falcon’s proposed recovery schedule, with references to a “statutory demand for bankruptcy”, dismissed it as “not making sense”. ...
Toshiba may sell chip business to Foxconn for $27bn image
Source : BBC [Read Article] Monday 10th of April 2017 03:59:36 PM
....Such a large offer from Foxconn would put pressure on Japan's government as Toshiba is seen as a key national asset. The Japanese firm needs to raise funds after its US nuclear unit, Westinghouse, filed for bankruptcy protection last month. ...
The Guardian view on productivity: Britain must solve the puzzle | Editorial image
....5m jobs. That’s a high price to pay, especially since not all the bankruptcies would be zombie companies. ...
Greek gloom as economy stalls amid latest bout of EU wrangling image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
. Eight years into Greece’s ordeal to escape bankruptcy, thousands of Communist party sympathisers packed into Syntagma Square in Athens on Friday to protest at the latest concessions made by Alexis Tsipras’s leftist government to keep the country afloat. ...
UK's Moorside nuclear project in turmoil as Toshiba's French partner backs out image
....Toshiba has been forced to buy out the French utility Engie from a project to build three nuclear reactors in Moorside, northwest England, further straining the Japanese company’s finances and adding to uncertainty over the project. Engie said on Tuesday it was exercising its right to sell its 40% stake in the NuGen venture to Toshiba following the bankruptcy of the Japanese firm’s Westinghouse nuclear power plant business. ...
Toshiba forced to buy 40% of UK's NuGen image
Source : BBC [Read Article] Tuesday 4th of April 2017 03:16:02 PM
....The French utility company Engie said it was exercising its "contractual rights" to sell its shares because NuGen was "facing some significant challenges". Last week, Toshiba's Westinghouse in the US, which was to build the plant's reactors, sought bankruptcy protection. ...
Bombardier defers executive salary rises amid outcry image
Source : BBC [Read Article] Monday 3rd of April 2017 05:32:16 PM
....Quebec's government agreed to a CA$1. 34bn ($1bn; £800m) bailout in 2016, a year after it teetered on the edge of bankruptcy. ...
Sir Philip 'favoured' Arcadia pension schemes over BHS image
Source : BBC [Read Article] Sunday 2nd of April 2017 07:20:55 PM
....Sir Philip owned BHS for 15 years before selling it in March 2015. It was bought for £1 by Dominic Chappell, a former bankrupt with little experience in retailing, and went into administration a year later. ...
How Karen Millen lost the battle for her name – and her fortune image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
.... With 400 outlets spread across 65 countries, there is even a store that bears the Kent-born designer’s name in Mongolia. But last week Karen Millen, the woman, became famous all over again for the wrong reasons, after suffering the humiliation of being declared bankrupt over an unpaid tax bill. ...
Arcadia plan sees pension woe pile up for Philip Green image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
....5m a year from 2019. The deal was struck soon after Green agreed to pay £363m to resolve the pension deficit at BHS, which fell into administration about a year after it was sold to a group led by a former bankrupt for £1. ...
Toshiba shareholders angry as chip unit sale approved image
Source : BBC [Read Article] Thursday 30th of March 2017 07:41:02 AM
....Toshiba's management has come under fierce criticism from shareholders, despite investors approving plans to sell its valuable memory chip unit. The company needs money to plug a gaping hole at its US nuclear unit Westinghouse, which filed for bankruptcy protection on Wednesday. ...
Toshiba's Westinghouse files for US bankruptcy image
Source : BBC [Read Article] Wednesday 29th of March 2017 07:15:32 AM
UK nuclear plans could be hit by Westinghouse financial crisis image
Source : Guardian [Read Article] Tuesday 28th of March 2017 06:47:55 PM
....A financial crisis at a major nuclear energy business is threatening to deal a blow to the UK’s atomic energy programme. Toshiba’s US nuclear subsidiary Westinghouse Electric is believed to be on the brink of filing in the US for bankruptcy protection from creditors. ...
​Sweet Brexit: what sugar tells us about Britain’s future outside the EU image
....“When we talk about free trade, we have to remember that it is a utopian value,” says Sly, recalling past experiments with taking on the world’s lowest price that ended in the return of a degree of agricultural protection. Imperial Preference was a form of trade protection provided to farmers in the British Empire in the 1930s after unfettered free trade left lots of them bankrupt. ...
Sir Philip Green 'could get £15m refund from £363m BHS payout' image
Source : Guardian [Read Article] Tuesday 21st of March 2017 06:30:06 AM
....The collapse of BHS last year led to the loss of 11,000 jobs and left a £571m pension deficit. Green owned BHS for 15 years until he sold it to Dominic Chappell, a former bankrupt with no retail experience, for just £1 in March 2015. ...
Netflix and Tesla overrated? Yes, in this mad, mad world image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:01:32 AM
.... It’s how Sun Edison, once a darling of the stock market, saw its share price soar from $1. 50 in 2012 to $31 by mid 2015 – then go bankrupt. ...
If big business is to thrive, it needs a strong welfare state | Phil McDuff image
....State spending, although decried by market fundamentalists as a drag on the economy, is actually a boon to employers. The NHS saves British business thousands on health insurance, compared with their counterparts in the supposedly more flexible US, as well as being cheaper and having the benefit of not condemning millions of people to bankruptcy and death. ...
Replacing EU hospitality workers after Brexit 'will take 10 years' image
Source : Guardian [Read Article] Saturday 11th of March 2017 08:00:29 AM
.... to children between the ages of 11 and 14,” Ibrahim said. In the meantime, she says Britain has to have continued access to a low-skilled EU workforce otherwise businesses face bankruptcy. ...
Volkswagen pleads guilty to all criminal charges in emissions cheating scandal image
....Summing up the scandal, assistant US attorney John Neal said it was a “calculated offense”, not a “momentary lapse of judgment”. Although the cost is staggering and would bankrupt many companies, VW has the money, with $33bn in cash on hand. ...
Theresa May must give Vauxhall assurances over Brexit, says Labour image
Source : Guardian [Read Article] Monday 6th of March 2017 08:03:56 PM
....He stressed that he had not closed a single factory since he took over at PSA in 2014. The carmaker, which came close to bankruptcy and was bailed out by the French government and Chinese investors, shut a French factory just before the former Nissan executive took the helm. ...
German chain store tycoon Schlecker in fraud trial with family image
....A former giant of German retail - Anton Schlecker - has gone on trial with his wife and two children over the collapse of his pharmacy chain, which once employed some 50,000 people. Mr Schlecker is accused of offences relating to the 2012 bankruptcy, and his family allegedly helped him. ...
Peugeot-Citroën chief vows to save jobs in Vauxhall/Opel takeover image
Source : Guardian [Read Article] Monday 6th of March 2017 12:35:46 PM
....Tavares stressed that he had not closed a single factory since he took over at PSA in 2014. The carmaker, which came close to bankruptcy and was bailed out by the French government and Chinese investors, shut a French factory just before the former Nissan executive took the helm. ...
Topshop owner to double contributions to plug pension deficit image
Source : Guardian [Read Article] Sunday 5th of March 2017 03:28:55 PM
.... BHS collapsed last April, leading to the loss of 11,000 jobs and leaving a pension deficit assessed at the most pessimistic measure as £571m. Green owned BHS for 15 years until he sold it to Dominic Chappell, a former bankrupt, for just £1 in March 2015. ...
Every time we take an Uber we’re spreading its social poison | Laurie Penny image
....There are very few things that $5bn can’t buy, but one of them is manners. This week video emerged of Travis Kalanick, the CEO and founder of ride-share app Uber, patronising and swearing at one of his own drivers, who complained that harsh company policies had forced him into bankruptcy. ...
Cheers! Pub saved by its customers rated best in the UK image
Source : Guardian [Read Article] Friday 3rd of March 2017 12:01:31 AM
. A small north Yorkshire village pub which was saved by its local community after going bankrupt has been named the best in the UK. ...
Dominic Chappell to fight legal action forcing him to pay BHS pensions image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:44:02 PM
.... However, it is continuing with legal action against Chappell and his company Retail Acquisitions and is understood to be seeking as much as £17m. Green owned BHS for 15 years until he sold it to Chappell, a former bankrupt with no retail experience, for just £1 in March 2015. ...
Sir Philip Green's reputation 'still stained' despite BHS pension deal image
....Mr Wright and Work and Pensions Select Committee chairman Frank Field led questioning of Sir Philip over the sale of the chain and its eventual collapse. He owned BHS for 15 years before selling it for £1 to former bankrupt Dominic Chappell. ...
Sir Philip Green hasn't pushed the boat out with his BHS pensions deal | Nils Pratley image
.... The process towards securing the £363m has been shambolic and has exposed serious flaws in the pensions system. The trouble at BHS began, remember, when Green sold the business in 2015 to Dominic Chappell, a thrice-bankrupt individual lacking the experience or cash to execute a turnaround at a business employing 11,000 people. ...
Philip Green agrees to pay £363m into BHS pension fund image
Source : Guardian [Read Article] Tuesday 28th of February 2017 02:42:06 PM
.... MPs voted in favour of stripping Green of his knighthood. The billionaire tycoon owned BHS for 15 years until he sold it to Dominic Chappell, a former bankrupt, for just £1 in March 2015. ...
Sir Philip Green strikes BHS pension deal with regulator image
Source : BBC [Read Article] Tuesday 28th of February 2017 02:38:18 PM
....MPs had also called for the Topshop billionaire to be stripped of his knighthood. He was grilled by a committee of MPs over the sale of the chain, which he owned for 15 years before selling it for £1 to former bankrupt Dominic Chappell. ...
Business rates a 'ticking time bomb' for small firms image
Source : BBC [Read Article] Sunday 26th of February 2017 08:29:46 PM
....". Labour's plan would include a fund worth £150m a year for the next three years for small and medium-sized firms at risk of bankruptcy due to "sharp and unmanageable" increases. ...
Vauxhall production guaranteed until at least end of decade, PSA tells union image
.... The takeover would make PSA Europe’s second biggest carmaker after Volkswagen. Comments from Tavares on Thursday – his first public remarks on the deal – suggested he would carry out a major restructuring of GM’s Opel operations in Germany and Vauxhall in the UK, similar to the one he oversaw at PSA, which nearly went bankrupt three years ago. ...
Vauxhall job fears rise as Peugeot boss mentions 'speedy' savings image
Source : Guardian [Read Article] Thursday 23rd of February 2017 11:00:40 AM
....However, Tavares also hinted that if the deal goes ahead he would carry out a major restructuring. At PSA, which came close to bankruptcy in 2014 but was saved by a state-backed bailout and Chinese investment, he has overseen a cost-cutting plan that involved a pay freeze, a factory closure and thousands of job cuts. ...
Peugeot owner PSA sees profits nearly double image
Source : BBC [Read Article] Thursday 23rd of February 2017 10:11:37 AM
....PSA said its operating margin, the level of profit it makes on sales, had risen from 5% in 2015 to 6% in 2016. It is the third year in a row that operating margin, sales and net profit have improved at the group, which flirted with bankruptcy in 2014. ...
Do we need a credit check to find out whether we can remortgage? image
Source : Guardian [Read Article] Thursday 23rd of February 2017 07:00:00 AM
....What lenders do look at is how much you owe compared with your income, how much of your available credit you are using and how much spare cash you have after paying living expenses. They will also take into account the historical information held by credit reference agencies, which tells them how well you manage your debts and whether you have missed repayments, as well as whether you have defaulted on any loans and/or been declared bankrupt in the past six years. ...
‘From bad to worse’: Greece hurtles towards a final reckoning image
Source : Guardian [Read Article] Sunday 19th of February 2017 12:05:16 AM
....As Greece hurtles towards another full-blown confrontation with the creditors keeping it afloat, and as tensions over stalled bailout negotiations mount, it is a question many are asking. The country’s epic struggle to avert bankruptcy should have been settled when Athens received €110bn in aid – the biggest financial rescue programme in global history – from the EU and International Monetary Fund in May 2010. ...
How Donald Trump became Deutsche Bank's biggest headache image
Source : Guardian [Read Article] Thursday 16th of February 2017 12:31:47 PM
.... In 2010 the parties settled their legal differences. But rather than walking away, the bank’s private wealth division then resumed lending to Trump, the troublesome four-times bankrupt client who had defaulted on a major loan. ...
Deutsche Bank examined Trump's account for Russia links image
Source : Guardian [Read Article] Thursday 16th of February 2017 12:31:00 PM
Unite leader warns GM his union will not accept any Vauxhall job losses image
Source : Guardian [Read Article] Wednesday 15th of February 2017 02:13:22 PM
....GM, the world’s third largest carmaker and the biggest in the US, has racked up more than $15bn of losses at Opel since 2000. It nearly sold the division after going bankrupt in 2009 and the Ellesmere Port Vauxhall factory – dubbed“home of the Astra” – came very close to closure in 2012. ...
Greece defies creditors over more cuts as economy shrinks unexpectedly image
Source : Guardian [Read Article] Tuesday 14th of February 2017 07:57:17 PM
.... Amidst the uncertainty the real economy has been put on hold with non-performing bank loans and private debt ballooning. This week the head of the Greek public power corporation, DEH, said lack of liquidity was such that the body was on the verge of bankruptcy. ...
General Motors looks to sell loss-making Vauxhall and Opel image
Source : Guardian [Read Article] Tuesday 14th of February 2017 01:42:44 PM
....GM, the world’s third-largest carmaker and the biggest in the US, has suffered more than $15bn of losses at Opel since 2000. It nearly sold the division after going bankrupt in 2009 but reversed the decision in a bid to maintain a foothold in the potentially lucrative European market. ...
Candy brothers accused of blackmail and extortion in high court image
Source : Guardian [Read Article] Wednesday 8th of February 2017 11:40:18 AM
....Ian Roberts, the founder of technology startup Crowdmix, is to break a six-month silence over the collapse of his venture in order to give evidence. Roberts was ousted from his company, in which Nick Candy was the largest investor, weeks before it filed for bankruptcy. ...
Grexit? Greece again on the brink as debt crisis threatens break with EU image
Source : Guardian [Read Article] Friday 3rd of February 2017 02:36:32 PM
.... It is now more than seven years since the Greek financial crisis erupted and the debt drama has often had a deja vu quality about it. Eclipsed last year by the UK’s vote to exit the EU, and Donald Trump’s equally unlikely US electoral victory, the nation’s epic struggle to keep bankruptcy at bay has been out of the spotlight. ...
Is it too easy to go bankrupt? image
Source : Independent [Read Article] Wednesday 1st of February 2017 11:59:00 AM
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Related to :
Ex-HBOS manager and five others face jail over £245m scam image
Source : Guardian [Read Article] Monday 30th of January 2017 04:41:50 PM
....In return, Scourfield, who had previously pleaded guilty to charges relating to his role in the scam last year, agreed to give inappropriate loans to struggling businesses, which allowed Mills and his associates to profit from imposing high consultancy fees on those firms. Many of the businesses went bankrupt as a result and some of the owners lost their homes. ...
Mark Carney: internet-only lenders pose risk to UK financial system image
Source : Guardian [Read Article] Wednesday 25th of January 2017 06:24:20 PM
....The Bank of England governor has warned that a new breed of internet-only lenders are beginning to pose risks to the financial system and without tighter regulation they could trigger the next financial crash. Mark Carney said high street banks were being displaced by online lenders that were untested in a recession, when bankruptcies might make their loans worthless. ...
Can I buy a flat while I'm paying off debts through an IVA? image
Source : Guardian [Read Article] Thursday 19th of January 2017 07:00:30 AM
....Q I have a few questions about whether I have any chance of buying a flat while I am on an IVA (individual voluntary arrangement) and repaying my debts. As I am on an IVA, rather than bankrupt, are there any special options for me? And how many months after I finish my repayments will my credit score be OK for me to get a loan? I want to avoid paying a deposit as I have no savings so what are my options? My income is £24,000 a year so how big a loan I can apply for? PG. ...
Takata shares rise on US airbag settlement reports image
Source : BBC [Read Article] Friday 13th of January 2017 03:26:11 AM
....Takata has acknowledged some of its airbag inflators exploded with too much force and sprayed metal shrapnel into the car. Takata has not disclosed the total cost of the global recall, but there have been multiple reports it is working on a restructuring deal and potential bankruptcy protection. ...
Obama's legacy image
Source : BBC [Read Article] Friday 13th of January 2017 12:03:44 AM
....Already heavily indebted, by the turn of the Obama administration it looked like they would simply run out of cash and cease operations within weeks. President Obama's decision to bail out General Motors and Chrysler with bridging loans and managed bankruptcies (Ford managed to turn itself around without government money) was deeply controversial. ...
Robbie Williams tickets put directly on resale sites image
Source : BBC [Read Article] Wednesday 11th of January 2017 02:42:08 AM
....Neither Viagogo or Live Nation UK have responded to repeated requests for a statement. Andy Inglis, an artist manager from 5000 management, called the practice "morally bankrupt". ...
BHS liquidator pores over details of   Green and Chappell property deals image
Source : Guardian [Read Article] Monday 2nd of January 2017 04:16:53 PM
.... A parliamentary investigation into the failure of the department store chain concluded that it had been systematically plundered under the ownership of Green and Chappell. Green owned BHS for 15 years until he sold it to Chappell, a former bankrupt, for £1. ...
Tech startups to make your life more slick, secure and stylish in 2017 image
Source : Guardian [Read Article] Sunday 1st of January 2017 12:00:00 PM
....This year was a mixed bag for startups. Powa Technologies, an e-commerce company that was one of Britain’s so-called unicorns (a startup valued at over $1bn), crashed hard, declaring bankruptcy early in 2016. ...
Boohoo set to bid for US fashion label Nasty Gal image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:11:19 PM
. Online fashion retailer Boohoo is lining up to buy the rights to the Nasty Gal fashion label after the US internet business fell into bankruptcy last month. ...
Santa Rally sends FTSE 100 to new record high image
Source : BBC [Read Article] Wednesday 28th of December 2016 09:49:18 AM
....8% to 136p after revealing a $20m (£16m) deal for failed US fashion retailer Nasty Gal. The online retailer wants the brand and customer databases of Nasty Gal, which filed for bankruptcy in November. ...
Brexit, strikes and pay revolts: the year in business image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:00:27 AM
.... In August, BHS tores closed their doors for the last time after 88 years of trading. A parliamentary inquiry was looking into why the chain collapsed barely a year after being sold by Sir Philip Green to the thrice-bankrupt entrepreneur Dominic Chappell. ...
BHS workers swamp Charles Dickens charity with help requests image
Source : Guardian [Read Article] Tuesday 27th of December 2016 05:53:33 PM
.... A postmortem into the BHS scandal by MPs concluded that Green had “systematically extracted hundreds of millions of pounds from BHS” and demands that he be stripped of his knighthood. Green owned BHS for 15 years until he sold it to Dominic Chappell, a former bankrupt, for £1. ...
Philip Green demands Dominic Chappell pays into BHS pension deal image
Source : Guardian [Read Article] Monday 26th of December 2016 03:16:29 PM
.... The demise of the 88-year-old retailer sparked a public and political outcry because Green and Chappell, the former owners, made millions from the business. Green owned BHS for 15 years until he sold it to Chappell, a former bankrupt, for £1. ...
American Apparel shuts 12 of its 13 UK stores with loss of 150 jobs image
Source : Guardian [Read Article] Friday 23rd of December 2016 11:31:33 AM
....Gildan is buying the worldwide rights to the American Apparel brand for $66m (£54m) and taking on its stocks, but does not want the group’s 230 global stores, just under half of which are in the US. American Apparel in the US has also filed for bankruptcy and the retailer has begun winding up its businesses in Spain, Japan and Australia as part of the deal with Gildan, which is expected to be finalised early next year. ...
Pensions Regulator needs stronger powers, MPs say image
Source : BBC [Read Article] Wednesday 21st of December 2016 12:16:28 AM
....Mr Field has been running a vigorous campaign against Sir Philip over the wealthy retailer's apparent reluctance to put sufficient of his own money into a rescue of the BHS pension scheme. The fund was left with a huge deficit of £571m when BHS went bust in April this year with the loss of 11,000 jobs, just over a year after Sir Philip had sold the department store chain to a former bankrupt, Dominic Chappell, for just £1. ...
Lloyds's MBNA deal: good for the bank, bad for competition | Nils Pratley image
Source : Guardian [Read Article] Wednesday 21st of December 2016 12:01:02 AM
.... And it is vital that the regulator should have powers to block takeovers when pension deficits are large. If such a rule had been in place, Green would surely not have been allowed to sell BHS to the thrice-bankrupt Dominic Chappell. ...
Sir Philip Green could face £1bn BHS fine under MPs' plan image
Source : Guardian [Read Article] Wednesday 21st of December 2016 12:00:02 AM
.... They said the regulator must consider recovery plans for pension schemes in deficit that last more than 10 years as “exceptional” and that it should approve every major corporate transaction. These powers would have allowed the regulator to block a 23-year plan drawn up by Green for the BHS pension scheme while he owned it in 2012, and stop the sale of the retailer to Chappell, a three-time bankrupt. ...

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