Search

Tennis player Becker found guilty of bankruptcy fraud

German tennis player Boris Becker was found guilty of hiding assets while filing for bankruptcy in 2017. The participant of the Grand Slam tournaments and a six-time winner has been living in the UK since 2012. After the court had made a decision, Becker was released on bail. The court is about to announce the verdict on April 29. The three-time Wimbledon champion faces up to seven years in prison under each charge count. The London court, which ...

London public transport is on the verge of bankruptcy

... government is delayed. One option would be to issue a document complying with the article 114 of the Local Government Finance Act of 1988. In fact, by doing so, the company will declare itself insolvent. According to a TfL spokesman, the recovery of the UK from the pandemic is impossible without the revival of economic life in London. This, in turn, involves the restoration of the transport arteries of the capital. Currently, the number of people using public transport services remains very small. For ...

Major supplier of electricity collapsed in the UK

... seven largest energy companies in the United Kingdom, has gone bankrupt and got under external control. The financial collapse was caused by gas prices, which were established in the fall of 2021. The company's share of electricity suppliers in the UK was about 6%. Experts note that over the past three months, 25 electricity suppliers in the country have already filed for bankruptcy. Several million citizens were their clients. At the same time, the country's authorities are in a state of expectation of new bankruptcies. A few days ago, a message that the introduction of a special management regime would allow the company ...

UK TOUR OPERATORS FACE WAVE OF BANKRUPTCIES

Several companies in the UK have announced their withdrawal from the Travel Trust association. This organization monitors and controls whether the travel companies comply with the regulations established in the United Kingdom. Truly Travel, known under the Teletext Holidays ...

Three more energy suppliers collapsed in UK

The sharp rise in gas prices triggered a wave of bankruptcies of energy suppliers in the UK. The day before, three more firms declared their insolvency - as a result, over 230 thousand customers were left without suppliers. Last Wednesday, three UK energy companies - Igloo Energy Supply Ltd., Enstroga Ltd. and Symbio Energy Ltd. declared bankruptcy. This was due to the sharp rise in natural gas prices, which the enterprises simply could not cope with. Energy regulator Ofgem has already promised to find another energy provider for households that lost their suppliers, reports Bloomberg....

SEVERAL ENERGY FIRMS HAVE GONE BURST IN THE UK AT ONCE

A tendency for energy companies to close down has been reported in the UK due to the increase in gas prices Since August - five small operators have already gone burst and four more may soon be closed down as well. The price for gas is to be blamed here - this year, its retail price has increased by 3.5 times. This circumstance ...

PREZZO CHAIN IS CLOSING RESTAURANTS IN THE UK

... out by private equity firm Cain International. As a result of the deal, 22 of 178 restaurants of the company, located in the UK, will be closed. The deal with the Cain International came after Prezzo was forced to go into the administration after failing ... ... Earlier this week Sky News reported that the owner was considering options for securing its future, including the possibility of bankruptcy for the restaurant group. In December, Prezzo was sold to Cain International as a going concern. The company was among ...

EUROSTAR TRAIN COMPANY IS ON THE VERGE OF BANKRUPTCY

... received a request for the urgent financial help to Eurostar Company. The rail carrier, whose high-speed trains have connected the UK with French and Belgian cities since 1994 through a tunnel under the English Channel, is on the verge of ruin. Prominent ... ... itself hopes to receive at least some decent loan from the country's authorities, which would save the Eurotunnel operator from bankruptcy. The British business community fears more serious reputational and economic losses that threaten the country in the ...

EUROPEAN AUTHORITIES ARE CREATING A “ZOMBIE ECONOMY”

... inefficient enterprises with low productivity. According to statistics for 2020, the number of bankruptcies in France and the UK fell by 40%. The average figures for the European Union as a whole were 25%. Researchers of the National Bureau of Economic ... ... rates are normalized. The French think tank Rexecode reports that about 10% of companies in the country have been saved from bankruptcy solely by government funds. Jeffrey Franks, the head of the IMF mission in France, believes that unviable companies ...

Sorted by relevance | Sort by date