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Corporate > Turnaround

Farewell, I&R Awards...

Insolvency News has relaunched its flagship event for the insolvency sector, in time for its ninth anniversary outing this year.

The event, to be held on 18th October at the Hilton, Park Lane, will now take place under the banner of… Read full story

Begbies launches worldwide advisory group

Professional services firm Begbies Traynor Group has announced the launch of BTG Global Advisory – an international alliance of independent insolvency, restructuring and financial advisory firms operating around the world. Read full story

Homebase to close one in four stores

The owner of DIY retail chain Homebase has announced it is to close one quarter of its stores, putting over 4,000 jobs at risk. Read full story

Mothercare seeks £100m turnaround funding

Embattled maternity retailer Mothercare has announced it is to launch a rights issue to raise £100m to fund its ongoing turnaround plan. Read full story

Co-op Group returns to profit

The Co-operative Group has posted profits of £12m for the first half of 2014, a return to form after its financial performance in 2013. Read full story

Restructuring plans impact on outsourcing giants

Two of the UK’s largest private sector outsourcing firms, Serco and G4S, have reported the effects of on-going restructuring plans. Read full story

Healthier options drive Greggs turnaround to success

Bakery chain Greggs has announced a 48% increase in pre-tax profit year-on-year in its H1 2014 results, as its turnaround plan begins to reap dividends. Read full story

Pawnbroker mulls future as lenders back out of turnaround plan

Troubled pawnbroker Albemarle & Bond has requested its shares be suspended from trading on AIM after the company’s lenders told the board they are unable to support its management turnaround plan. Read full story

Mothercare turnaround hits a wall

Maternity retailer Mothercare plc’s turnaround plan looks to be struggling after the company today (8 January) issued a profit warning as sales and shares slumped. Read full story

Co-op Bank posts massive loss as impairment charges hit

The Co-operative Group has posted a pre-tax loss of £559m in the first half of 2013 following additional impairment charges in its banking division. Read full story

Greggs unveils turnaround as profits slump

Bakery chain Greggs has announced it will reshape its business following a 2.9% drop in like-for-like sales in its 2013 first half results. Read full story

Alpine Press sold via MBO

Alpine Press Limited has exited administration through a Management Buy-Out (MBO). Read full story

FRP seeks buyer for suet producer

Food manufacturing and packaging firm Q Cold Limited has entered administration, with staff likely to face redundancies. Read full story

New Look returns to profit with online sales

Debt-laden fashion retailer New Look has returned to profit, reporting full year pre-tax profits of £3.1m, compared with a loss of £55m in 2012. Read full story

Jon Moulton snaps up City Link for £1

Jon Moulton’s Better Capital has snapped up troubled courier brand City Link from Rentokil Initial for just £1. Read full story

Focus Insolvency Group acquires consultancy

Wigan-based insolvency firm Focus Insolvency Group has acquired Phil Stone Consultancy as a restructuring arm to support struggling businesses nationwide.

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Former HBOS managers charged in £35m corruption case

Eight people have been charged in relation to business loans of around £35m in value made through a Halifax Bank of Scotland (HBOS) branch. Read full story

128-year-old steel business in administration

One of the UK’s leading independent alloy steel foundries officially went into administration yesterday (13 November). Read full story

Vodafone posts £492m loss

Telecoms provider Vodafone has reported a pre-tax loss of £492m for the six months to September as it faced “tougher” market conditions in southern Europe. Read full story

Feature: Calm before the storm

With a predicted increase in the number of insolvencies in the property and construction sectors over the coming months, Insolvency Today asks the industry what we should expect. Read full story