All Restructures and receiverships articles – Page 19
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Comment & OpinionConviviality receivership marks another wholesale tragedy
Investors were being asked to risk more money for Conviviality while having zero visibility about future leadership
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Analysis & FeaturesAs Conviviality administration looms, who are the likely buyers?
Sources close to the situation claim numerous suitors have expressed an interest
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NewsMedia Bites 29 March: Conviviality, Reckitt Benckiser, Coca-Cola
Bargain Booze and Wine Rack owner Conviviality has failed to raise £125m required to resolve its cash crisis
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NewsCity snapshot: Conviviality files notice to appoint administrators
Conviviality has announced the board intends to appoint administrators within 10 business days, GfK’s Consumer Confidence Index increased three points in March and all the other news from the City
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NewsConviviality on the brink after failing to raise £125m
Shareholders expected to receive “little-to-no value”
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NewsFive Star Fish faces closure as 2 Sisters consults on 'heavily loss-making' business
Nearly 400 staff at the Grimsby-based operation are now facing redundancy
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NewsCity Snapshot: Kerryfresh collapses due to cashflow issues
Fresh to Store, trading as Kerryfresh, has collapsed into administration, AG Barr sees strong profit growth, Diageo appoints Ursula Burns as interim executive chairman and the other news from the City
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NewsCity snapshot: Conviviality seeks £125m from investors to save the business
Conviviality has announced an equity placing to raise £125m in a bid to recapitalise the business – without which it said it was “unlikely” to be able to continue. Plus on a busy day in the City, Produce Investments back in profit, protein woes weigh on 2 Sisters, Reckitt pulls out of Pfizer talks and all the rest of the news from the City.
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NewsCountrywide Farmers hopes for rescue after Mole Valley deal collapse
Administrators are searching for a buyer for Countrywide Farmers Group’s retail business following the collapse of its proposed takeover by Mole Valley Farmers after the CMA blocked the deal.
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Analysis & FeaturesCan Conviviality recover from its week of woe?
A surprise profit warning, arithmetic errors, unexpected tax bills. The booze giant has a struggle on its hands.
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NewsConviviality faces fight for survival in cash crunch
Booze giant Conviviality faces a battle for survival after a week of turmoil that saw more than £350m wiped from its value and PwC called in for help.
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NewsCoffee chain MangoBean rescued from administration
North-East based national coffee chain MangoBean Coffee has been rescued from administration, safeguarding all jobs at its Newcastle-upon-Tyne head office.
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NewsConviviality calls in PwC after unexpected £30m tax bill
The ailing booze giant is to meet with HMRC and key stakeholders
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NewsHigh street pressures tell on Eat as losses mount
The pressures troubling the casual dining sector are also affecting the quick service restaurants, with newly filed accounts for sandwich chain Eat showing pre-tax losses rose from £1.5m in 2016 to £3.7m last year - its fifth consecutive year of losses.
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NewsFSA defends stance on Russell Hume in wake of collapse
The scandal-hit meat supplier fell into administration yesterday, citing the FSA’s investigation which created ‘impossible trading conditions for us’, Russell Hume said
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NewsRussell Hume goes into administration
The meat supplier has been under investigation by the Food Standards Agency over labelling concerns since late January
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NewsTough Christmas sees Ultimate Plum Pudding Company collapse
All 20 employees at the Cumbrian company have been made redundant
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NewsScottish health chain Earthy Foods & Goods closes its doors
Earthy Foods & Goods, a small group of organic food stores and cafés in Edinburgh, has gone into administration, owing nearly £1m.
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NewsFrank Field MP blasts accounting 'deficiencies' at Palmer & Harvey
The chairman of the House of Commons’ work and pensions committee has blasted the management and auditors of Palmer & Harvey after a report by administrators revealed the failed wholesaler significantly understated its losses in the 2015/16 financial year.
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NewsP&H understated losses by £12.1m in 2015/16, administrators' report reveals
Palmer & Harvey significantly understated the extent of its losses in the 2015/16 financial year after a series of “omissions” and “misstatements”, according to a report into the collapse of the wholesaler by PwC.