Administration
This coverage explores retail administrations and insolvencies within the UK market, examining the circumstances, decisions, and consequences for businesses, employees, and creditors. Reporting highlights notable cases, restructuring efforts, store closures, and leadership actions aimed at recovery or winding down. Designed for executives and managers, it offers insights into risk, resilience, and lessons from commercial failures.
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Feb- 2025 -12 FebruaryHigh Street
Beales to shutter last remaining store amid budget changes
Beales, one of Britain’s oldest department stores, will shutter its last remaining store after more than 140 years of trading amid cost pressures arising from the latest budget. The business, which opened in Bournemouth in 1881, will close its last remaining store in Poole’s Dolphin Centre at the end of May.…
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6 FebruaryNews-In-Brief
Today’s news in brief-6/2/25
Tesco is reportedly considering a takeover of over 100 Crown Post Office branches, potentially safeguarding them from closure as the state-owned Post Office reviews its directly managed network. Post Office chairman Nigel Railton informed MPs that Tesco expressed interest in acquiring the loss-making branches, part of a broader strategic review…
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5 FebruaryNews-In-Brief
Today’s news in brief-5/2/25
A Welsh fashion designer has taken Boohoo, and its affiliated brands PrettyLittleThing, Nasty Gal Limited, Misspap, and Debenhams, accusing it of copying her signature designs. Sonia Edwards claims that her designs, including a halter-neck bikini top, a rib organza mesh puff-sleeve top, a velvet ruched midi-skirt, a twist-front skirt, and…
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5 FebruaryOnline & Digital
Very Group ends HSBC relationship after 10 years
The Very Group has cut ties with HSBC, the bank which ran its customer loan portfolio worth around £1.8bn, according to reports from The Times. The online retailer has instead handed over responsibility of the securitisation of its buy now, pay later offer, to Natwest. Very provides finance options for…
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Jan- 2025 -31 JanuaryNews-In-Brief
Today’s news in brief-31/1/25
Homebase, the DIY retailer that collapsed into administration in November 2024, owes more than £650m to unsecured creditors, including suppliers AO World, Halfords, and The Hut. Administrator Teneo reported total unsecured claims of £657m, with £100m owed to trade creditors. Major debts include £2.9m to Close Brothers for till systems,…
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31 JanuaryDIY
Homebase owes over £650m to unsecured creditors post collapse
Homebase still owes more than £650m to unsecured creditors, including AO World, Halfords, and The Hut, following its collapse into administration in November 2024. According to Teneo, the DIY retailer’s appointed administrator, unsecured creditor claims totalled £657m – of which roughly £100m is owed to trade creditors. With unsecured creditors…
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29 JanuaryNews-In-Brief
Today’s news in brief-29/1/25
Lord Wolfson, CEO of Next and Conservative peer, has leveraged his House of Lords position to propose amendments phasing in upcoming National Insurance (NI) reforms. The budget measures, effective April, will raise employers’ NI contributions from 13.2% to 15% and lower the secondary threshold to £5,000 annually. Wolfson supports staggered…
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29 JanuaryAdvice
From classroom to commerce: How Alok Ruia reinvented SockShop
Alok Ruia, Director of SockShop, did not initially set out to join the family business. The Ruia Group, founded by his father and uncles in the 1950s, started as a textile importing business in Manchester, supplying raw cloth to UK manufacturers. “It’s a family business to this day,” Ruia explains,…
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29 JanuaryClothing & Shoes
Quiz close to administration following AIM delisting
Embattled fashion retailer Quiz is reportedly set to appoint administrators only days after its shares were delisted from the stock market, according to Sky News. The outlet claims that Quiz is set to appoint global advisory firm Teneo to help oversee a pre-pack insolvency that will allow the founding Ramzan…
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20 JanuaryNews-In-Brief
Today’s news in brief-20/1/25
Quiz is reportedly considering closing up to a third of its 60 stores as part of a restructuring effort to stabilise its business amid mounting financial pressures. The company is set to delist from the AIM market and return to private ownership following a shareholder vote earlier this month. Restructuring…
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