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Fashion retailers struggling with insolvency

Last month’s release of the 2017 insolvency figures did not make good reading for UK clothing retailers, who suffered from a rise in liquidation rates. Research carried out by The Insolvency Service found that 17,243 companies entered insolvency over the course of the year, which represents a 4.2% increase year-on-year. […]

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UK Government-backed investment bank needed for small business lending

The Independent reports that a new report by Civitas argues that the creation of a new “national investment bank” will address the “market failure” that has led to a lack of long-term investment in SMEs. The new lender could be independently financed at no ongoing cost to the taxpayer, Civitas claims, […]

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Three European banks to pay $46m for ‘spoofing’ market

BBC business reports that the US Department of Justice (DOJ) says it has charged eight individuals over allegations they “spoofed” or manipulated the futures markets for precious metals and share indexes. Separately UBS, HSBC and Deutsche Bank will pay a total of $46.6m (£33m) to settle spoofing charges against them. Spoofing refers […]

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How Walsh Taylor help our clients

There is unfortunately no potential shortage of issues that Yorkshire and UK organisations can face. Depending on industry, company size and many other factors, numerous financial challenges may arise, and sometimes when you least expect them to. Business owners will know only too well that this does not just impact […]

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Impact of Carillion insolvency proving to be far-reaching

With around 43,000 workers all over the world, last week’s announcement of the Carillion collapse was bound to send shockwaves through the entire construction industry. Taking into account that the organisation not only employed a huge amount of people but also functioned as a middleman to businesses by providing the […]

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Zombie businesses fall

R3 report that the number of zombie businesses declined in December.  The figure, based on the number of businesses that are only able to pay interest on their debts fell from 0.5% in April to 03%.  This accounts for 49,000 businesses, the lowest since R3 started tracking these businesses in […]

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Retail sales slump at end of 2017

Footfall in December fell by -3.5% from December 2016, when it had decreased by 0.2%. On a three-month basis, footfall fell by -1.9%, the largest drop since April 2016. “The drop in footfall of -3.3% in the weeks leading up to Christmas provided a heads up for December, with the […]

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Risk of insolvency rises for UK businesses

Insolvency and restructuring trade body R3 announced towards the end of last month that the number of UK organisations facing insolvency had grown significantly throughout 2017. Incorporating a database of 3.6 million businesses, the research utilised performance indicators such as balance sheets and directors’ track records. It found that one […]

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Worst year for consumer spending since 2012

Mark Antipof, Chief Commercial Officer at Visa, commented: “Christmas rounded off a lean year for retailers with consumer spending seeing its first consistent 12 month decline since 2012. December’s consumer spending figures confirm our earlier prediction that the UK would see its first fall in overall Christmas spending in five […]

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