Travel Weekly has reported on the financial crisis threatening the UK travel industry. This follows the recent collapse of the cruise company, All Leisure Group. Geopolitical risks, terrorism threats and the fall in the value of sterling are all likely to impact on bookings, as will the effect of inflation on travellers’ disposable income. Companies with too great a focus on
City AM travel reporter, Courtney Goldsmith writes that the UK travel sector is braced for thousands of insolvencies as the sector comes under increasing pressure from terrorism fears and rising costs. Currently there are just under 7,000 travel agents and tour operators in the UK and 1,800 or 26% have attracted the “warning rating” of Company Watch, a database that
High street fashion favourite Next is the first major retailer to report on its trading during the vital festive season. BBC Radio 4’s flagship consumer programme You & Yours examines what the disappointing outcome means for the rest of the UK retail sector. Our Business Risk Adviser, Nick Hood was interviewed by Winifred Robinson. He expressed his concern that if such a
Asian Image comments on research carried out by Opus Restructuring which shows that 44% of the UK’s fashion retailers are at serious risk of either insolvency or a major financial restructuring. This worrying outcome is a sharp deterioration since the same time last year, when only 37% of rag trade companies were deemed to be at risk. The research was
The Sunday Express reports that research by Opus Restructuring shows that 43.6% (3,991) of the UK’s fashion retailers are at risk of failure, a sharp deterioration since this time last year, when only 37.1% were financially vulnerable. The research is based on data supplied by the corporate financial health monitoring specialists, Company Watch. Opus also found that the larger fashion outlets
The Financial Times reports that Four Seasons Health Care, the lossmaking care home operator, has closed or sold 51 homes for the elderly over the past eighteen months as it cuts costs ahead of a financial restructuring now planned for next year. Britain’s biggest care home operator, which runs 370 homes, plans to dispose of a similar number in 2017.
