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At the end of last month, retail centre giant Intu announced that they had gone into administration. The news followed an earlier statement from the firm that it had failed to reach a financial restructuring agreement during talks with lenders. Intu, which has 17 shopping centres in the UK including the Trafford Centre, had been…

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According to the Construction Products Association, overall construction output is expected to fall by 25% throughout 2020. The expectation is that the industry will recover strongly in 2021, however it’s still expected to end up 6% lower than usual due to the effects of the coronavirus pandemic. How will specific construction sub sectors fare? As…

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Figures compiled by accountancy firm UHY Hacker Young have revealed the number of winding-up petitions issued against restaurants increased by 165% in the first four-and-a-half months of 2020. From the start of the year until 20th April 2020, 53 winding up petitions were filed – compared to just 20 over the same period last year.…

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New insolvency legislation is being introduced to help struggling businesses stay afloat during the coronavirus pandemic. The new rules are designed to protect businesses from aggressive debt recovery measures and stop them going under. The government introduced the new insolvency legislation on Wednesday, which allows companies time to restructure, refinance and keep trading when they…

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Following steep drops in business travel and increasingly tougher competition from the likes of Airbnb, the number of UK hotel insolvencies jumped by 60% over the year to September 2019. Insolvencies in the hotel sector have now reached a 5 year high, with 144 individual sites directly affected. This is a sharp rise from the…

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