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Corporate


2012 will show lowest insolvencies for four years

RSM Tenon has today released statistics showing that personal insolvencies are continuing to decline. Read full story


St John group restaurant in administration

St John Chinatown Ltd – a division of the renowned St John Restaurant group – has slipped into administration, just days after it was awarded a Michelin star. Read full story


Thousands of jobs to go at UBS

Swiss Banking Group UBS has confirmed it is slashing 10,000 jobs from its investment bank workforce worldwide. Read full story


Private equity to step into bank role

Private equity investment is set to play a bigger part in funding turnaround deals and restructuring packages in the next two years, as banks continue to reduce lending levels –industry specialists have predicted. Read full story


FEATURE: Financial Services Insolvencies

The financial services industry is under extreme pressure. Ever since the failure
of Lehman Brothers in 2008, it has had to constantly indulge in fire fighting and shoring up. Read full story


Ford confirms European restructure

Car manufacturer Ford is to close its Southampton plant which employs around 500 people as it restructures its European operations. Read full story


High Street threat from business rate hike

The British Retail Consortium has warned that basing next year’s business rates on today’s Retail Price Index (RPI) figure will hit retailers with £175 million in extra costs. Read full story


PwC reports £563m in earnings from Lehmans collapse

Accountancy firm PricewaterhouseCoopers (PwC) has earned £563m from the administration of the UK arm of collapsed bank Lehman Brothers. Read full story


North stays top of insolvency league table

Companies in the north of England are more likely to fail than those in the south of the country, according to a report. Read full story


I&R Awards 2012: All the winners

Click here for the full list of winners from this year’s Insolvency & Rescue Awards. Read full story


ITAC 2012: BPF defends use of CVAs

Opponents of CVAs following the second unsuccessful implementation at JJB Sports are wrong to criticise, the British Property Federation claimed today. Read full story


ITAC 2012: Banking boss warns of inevitable UK bailout

Senior executives of Britain’s banking groups believe the UK will be forced to assist distressed eurozone countries still further due to the risk they pose to their own exports. Read full story


Clydesdale chooses FRP for tourist administration

Clydesdale Bank has appointed FRP Advisory to handle the administration of a once popular London tourist attraction. Read full story


Profits up at Wilson Field

Insolvency group Wilson Field has declared pre-tax profits of £1 million for the year ending August 2012. Read full story


Former Leeds chairman banned as director

Peter Ridsdale, the former chairman of Leeds United, Barnsley and Cardiff City football clubs, has been disqualified from acting as a company director for seven and a half years. Read full story


Optical Express to close 40 stores after administration

A subsidiary of Optical Express Group has entered administration and insolvency firm PKF has been appointed to handle the case. Read full story


Celebrity endorsed Virgin supplier enters administration

A major supplier to Virgin Active gyms with endorsements from Claudia Schiffer, Rachel Weisz and Anna Friel has collapsed into administration. Read full story


Sports Direct acquires 20 JJB stores

Sports Direct has confirmed it has acquired 20 stores from JJB Sports after the retailer collapsed into administration last week. Read full story


£3m is a fair point for debt group

Fairpoint – the debt management and IVA group – have announced adjusted half year profits of £3 million before tax for the six month period to 30 June 2012. Read full story


KPMG favourite for JJB administration

Retailer JJB Sports is set to enter administration after it failed to find a buyer for the ailing business, with KPMG favourite to be appointed as administrator. Read full story