The development of cross-border restructuring We are nearing the end of the third decade since cross-border recognition of insolvency proceedings was codified through the UNCITRAL Model Law on Cross-Border Insolvency, which was adopted in 1997 to create some order in the chaotic world that insolvency professionals faced when working on multi-jurisdictional failures or restructurings. The Model Law was never intended
Getting inventory levels wrong can easily happen within the retail industry, but it can be very damaging. Too little inventory and stockouts mean lost revenue and dissatisfied customers. Too much and precious capital is tied up unnecessarily and expensively before the inevitable discounting wreaks havoc with gross margins and adversely affects the bottom line. Taken to extremes, excessive inventory can
For the overwhelming majority of retailers, the festive season is make or break. Christmas and New Year 2024 may have delivered surprisingly buoyant top-line revenues, given the consumer cost-of-living crisis, but profitability was another matter. The result has been another crop of high-profile failures, including Ted Baker, Matchesfashion, the Body Shop and FarFetch. Retailers account for 9% of all UK
The retail sector is crucial to the UK economy. It generates 6% of our GDP, receives a third of all consumer spending and employs 2.9m people (around 10% of all employment). Yet, it accounts for 9% of insolvencies and, as our latest sector report identifies, a further worrying decline in its overall financial health in recent months. Just at this
It’s impossible to overstate the importance of the service sector to the modern UK economy. According to research by the House of Commons Library, it represents 81% of UK economic output and provides 83% of our employment. The service sector includes retail, financial services, public sector activities, business administration, hospitality, leisure and cultural businesses. The S&P Global/CIPS Purchasing Managers’ Index
The UK economy appears to be on a slow upward trajectory in 2024 after a rocky start and on the back of a tough business landscape in 2023. We hope this trend continues and improves as UK business owners desperately need some stability and growth. Delving deeper into April’s stats, there was mixed news with a pleasant surprise in the
