Jet Airways lenders plan Insolvency proceedings

Jet Airways lenders plan Insolvency proceedings

Jet Airways’ creditors have said they plan to bring insolvency proceedings against the struggling airline.The move follows a failed attempt to find a suitable buyer for what was once India’s biggest private airline.Jet Airways has been hampered by more than $1bn...
Monsoon asks Landlords to backdate rent cuts

Monsoon asks Landlords to backdate rent cuts

Monsoon Accessorize is planning to slash its rent bill for more than half of its stores, as it becomes the latest troubled retailer to turn to a controversial rescue plan in a bid to avoid collapse.The high street fashion chain is hoping landlords will back its...
Arcadia Group closing 48 UK stores as it secures CVA

Arcadia Group closing 48 UK stores as it secures CVA

Sir Philip Green’s retail empire Arcadia group has announced proposals to close 48 of its stores under new restructuring plans.Arcadia announced on Wednesday (12 June) that it had put forward a rescue plan that will see the closure of some Dorothy Perkins, Burton,...
High street suffers worst May on record

High street suffers worst May on record

Britain’s high streets suffered their worst May on record as sales plunged by 3.3% on last year, figures show.The significant drop, off the back of negative 2.2% base for May last year, follows four months of poor results, according to BDO’s High Street Sales Tracker...
Ford to close its engine plant in Bridgend in 2020

Ford to close its engine plant in Bridgend in 2020

Car giant Ford’s decision to close its South Wales factory will lead to the loss of 1,700 jobs – and many more in companies supplying goods and services to the plant.The news was being confirmed at a recent meeting between company officials and union leaders. The...