Begbies Traynor news and archive

UK companies face insolvency after two years of financial stress

Two years of trading anxiety, financial stress and post-pandemic uncertainty has left many British businesses, including retailers and fashion companies, at a risk of insolvency. Many companies took out loans when their companies were forced to close during Covid-19 restrictions and lockdowns, but are struggling to repay debts. A report by...

RetailFeatured

UK retailers experiencing financial distress

UK retailers are not in optimal health according to a new report, with many businesses experiencing ‘significant’ financial stress. The results were published by Begbies Traynor’s Red Flag Alert research for Q2 2018, which monitors the financial health of UK companies. The finding saw 472,183 businesses facing tough times, up 9 percent from last...

Design

UK retail May sales up 2.1 percent

REPORT_ Sales of UK retail have risen 2.1 percent in May compared to the earlier month. Compared to the same month last year, sales were up 1.9 percent. In April, high street sales fell 1.1 percent. Julie Palmer, Partner at Begbies Traynor, said: “As retail sales bounce back after a difficult start to the year, we are seeing clear signs that...

Design

Coggles enters administration

York-based fashion independent Coggles has entered administration, after attempts by the directors to restructure and to attract new investment fell through. The retailer has appointed Andy Clay and David Acland of Begbies Traynor as joint administrators, who have confirmed that around 30 redundancies have been made from the 60 staff members, as...