Private: Latest News

Firms relabelling low-skilled jobs as apprenticeships

A report by centre-right think tank Reform says many firms have rebranded existing roles after being obliged to contribute cash to on-the-job training. The study claims that some fast food giants, coffee shops and retailers are relabelling low-skilled jobs as apprenticeships in order to gain subsidies for training. It adds […]

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North East businesses facing risk of insolvency increases

As you may have noticed from reading some of our most recent blog articles, insolvency has hit the headlines several times in the past couple of months. First came the news that the amount of UK businesses facing insolvency had grown significantly throughout 2017, then the Carillion collapse, followed finally […]

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3/4 of restaurant groups loss making

The Guardian reports that one in three of the UK’s top 100 restaurant groups are lossmaking, a rise of 75% in the past year as the casual dining crunch continues in an over saturated market. A combination of higher staff costs, rising business rates and falling consumer confidence have conspired […]

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Government knew of plan to raise £360mn from Carillion

The Telegraph reports that the Government was informed by  Carillion’s accountants in December 2017 about a plan to break up the company, selling the profitable parts and putting the rest into liquidation.  It is believed this would have generated more than £360 million, £218 million of which could have be put […]

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The differences between liquidation and dissolution

Here at Walsh Taylor we are keen not to bombard clients with technical jargon. After advising numerous people in precarious financial situations over the years, our insolvency practitioners understand that one of the last things they would want is to be confused. Having said that, there are terms that business […]

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Growth Forecasts to be Upgraded

The Telegraph reports that the OBR will upgrade growth forecasts only months after downgrading them. The UK’s UK’s dominant services industry has surged and profits have risen at their fastest pace since November 2015, according to a new CBI survey. Read more…

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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