Businesses in financial trouble

[6Foot2]

Link: Glastonbury Festival yurt glampers ticketless as Yurtel goes bust - BBC News

 

Quote

A number of Glastonbury glampers have been left ticketless and out of pocket weeks before the festival after a luxury yurt company went into liquidation.

 

Festival-goers had booked accommodation and event tickets through Yurtel, based in Corsham, Wiltshire, but have since been told by the company that their bookings will not be fulfilled after it ceased trading on 8 May.

 

Prices for hospitality tickets and accommodation packages offered by the company ranged from £10,000 up to £16,500.

 

The BBC has approached Yurtel for comment. Glastonbury Festival said while it was "disappointing" for those who had booked through the company, it has "no involvement with the operation of Yurtel".

 

The cheapest package offered by Yurtel was £10,000 for a deluxe bell tent with options ranging up to £16,500 for a presidential suite, which featured a front deck with seating, a king sized bed and a sofa.

 

In an email to customers, the company said it ceased trading due to insolvency and would commence formal liquidation shortly.

 

It said that accommodation booked with Yurtel would not be available and advised people to book with another provider.

 

It added that money customers had paid "cannot be refunded" and advised that details of the claim process would be provided to creditors when liquidation has started.

 

'Only option'

Lydia, who paid £10,000 plus vat for tickets and accommodation for two via bank transfer, said she was "absolutely gutted".

 

She claimed the company did not allow customers to book via credit card.

 

"I tried to get it [tickets] through the normal Glastonbury route and wasn't successful and then booked quite soon after that," she said.

 

Lydia said "the only option" was to purchase tickets through Yurtel, with her parents also spending £16,000 to join her.

 

She had booked tickets to go last year but had to cancel due to an operation.

 

"I'm just absolutely gutted."

 

"This was a very, very expensive thing that people would save for. It is no drop in the ocean. " she added.

 

Louise, who paid £13,500 via bank transfer for tickets and accommodation, said she felt "sick to her stomach" when she found out Yurtel had gone into liquidation.

 

She sad she had booked the luxury Glastonbury glamping tickets as a "once in a lifetime special treat".

 

"It felt like a sickening feeling in the pit of my stomach and also regret," she said.

 

"The fact that someone had just walked away with our money and we had nothing to show for it."

 

Just like Lydia, Louise also claimed that the company did not allow customers to book via credit card.

 

"My husband tried to pay by card, because we knew then we'd be protected, but they insisted they didn't take card," she added.

 

Glastonbury Festival said Yurtel was one of a small number of campsites local to Worthy Farm with limited access to purchase hospitality tickets for their guests in certain circumstances.

 

"As such we have no records of their bookings and are unable to take any responsibility for the services and the facilities they offer," the festival said.

 

However, the festival said Yurtel had not paid or secured any tickets for the 2025 festival prior to entering into liquidation.

 

"Anyone who has paid Yurtel for a package including Glastonbury 2025 tickets will need to pursue any potential recompense available from them via the liquidation process as outlined in their communication to you. We are not able to incur the cost or responsibility of their loss or replacement," it added.

 

The festival is encouraging Yurtel customers to contact [email protected] to confirm their consent for them to share their personal data and details of their party with them.

 

"We will then be able to provide details of alternative potential sources for those customers to purchase tickets and accommodation for this year's festival," it said.

 

The festival, taking place between 25 - 29 June will include headliners Neil Young, Olivia Rodrigo and The 1975.

 

[6Foot2]

Link: Private hospital giant Healthscope falls into receivership after lenders withdraw support | Business | The Guardian

 

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The indebted private healthcare provider Healthscope, operator of Sydney’s embattled Northern Beaches hospital, has fallen into receivership after its lenders withdrew support.

 

Healthscope, backed by global investment firm Brookfield, had been renegotiating its finances with lenders after accruing $1.6bn in debt and defaulting on various lease payments.

 

The private hospital owner said in a statement that its 37 hospitals would remain open and operating on a business-as-usual basis with no impact on staff, doctors or patient care.

 

The health minister, Mark Butler, called the development “highly distressing to the patients, staff and local communities that depend on Healthscope’s services”.

 

“While Healthscope have announced they will remain operating as normal with no change to patient care or staffing, this will still be difficult for the hospital’s employees and their patients,” Butler said on Monday afternoon.

 

He said the government had met with the administrator and the receiver to outline priorities and expectations, and that he expected “all parties to continue to put patient care and workers as their priority”.

 

“As the government has said all along, there will be no taxpayer bailout,” he said.

 

“We remain steadfast in our view that an orderly sales process that maintains the integrity of the entire hospital group will provide the best outcome for patients, staff, landlords and lenders.”

 

Restructuring firm McGrathNicol was appointed to sell the business. It was provided with a new $100m funding package by financier Commonwealth Bank to support operations during the sale process.

 

“Our immediate focus is to engage constructively with all key stakeholders to ensure uninterrupted operation of Healthscope hospitals and continuity of best practice standards of patient care,” McGrathNicol partner Keith Crawford said.

 

Receiverships are used by creditors to sell or reorganise assets to recoup debts.

 

Healthscope’s chief executive, Tino La Spina, said on Monday it was “business as usual”.

 

“There will be no hospital closures, there will be no redundancies,” he said.

 

La Spina said the company had received “around 10 non-binding indicative offers” and that a sales process would take up to 10 weeks.

 

Indicative offers are preliminary expressions of interest, which contain no guarantee they will turn into firm bids.

 

Concerns over patient care at the Healthscope-run Northern Beaches hospital sparked criticism of public-private partnerships in the health sector.

 

The company came under scrutiny following the death of two-year-old Joe Massa at the Northern Beaches hospital in September 2024.

 

The Australian Medical Association president, Dr Danielle McMullen, said the private health sector required better oversight.

 

“We welcome the commitments given as part of today’s announcement that the operation of Healthscope’s hospitals will continue as normal and that additional funding has been provided to support their operation,” McMullen said on Monday.

 

“We also welcome the receiver’s stated intention to transition all hospitals to new ownership, with no plans for hospital closures or redundancies.”

 

The Australian Nursing and Midwifery Federation said it had been working with members and stakeholders navigating the financial difficulties and uncertainty.

“For the nurses and midwives who care for patients in Healthscope every day, this is a very difficult and worrying time,” union official Phoebe Mansell said.

“The financial collapse of Healthscope is a stark and shocking reminder of the dangers of privatising essential healthcare services.”

 

[6Foot2]

Link: Maternity brand Seraphine worn by Kate enters administration - BBC News

 

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The maternity fashion retailer Seraphine, whose clothes were worn by the Princess of Wales during her three pregnancies, has ceased trading and entered administration.

 

Consultancy firm Interpath confirmed to the BBC on Monday that it had been appointed as administrators by the company and that the "majority" of its 95 staff had been made redundant.

 

It said the brand had experienced "trading challenges" in recent times with sales being hit by "fragile consumer confidence".

 

The fashion retailer was founded in 2002, but perhaps hit its peak when Catherine wore its maternity clothes on several occasions, leading to items quickly selling out.

 

Prior to the confirmation that administrators had been appointed, which was first reported by the Financial Times, Seraphine's website was offering discounts on items as big as 60%. Its site now appears to be inaccessible to shoppers.

 

The main job of administration is to save the company, and administrators will try to rescue it by selling it, or parts of it. If that is not possible it will be closed down and all its saleable assets sold...

 

[Homer]

Looks like ebuyer have gone under 

 

https://www.tomshardware.com/tech-industry/ebuyer-reportedly-closing-its-doors-staff-at-uks-second-biggest-pc-retailer-sent-home-early-company-sued-for-liquidation
 

Their site is now a landing page for studio 

 

😔

 

 

[MatthewL]

Didn't know anything of the eBuyer situation till the weekend, had some issues with some orders last week which was out of sorts to them, big shame to loose them, was my go to supplier for bits.

[DrCheese]

Quote

big shame to loose them, was my go to supplier for bits.

 

Aye, same - Although that's probably why they've gone under. We all used them for "Odd bits" and random laptop occasionally, but never any big ticket purchases.

They did quote me on bulk PCs a few times, but they couldn't compete unless they quoted their own brand kit & I avoid any non Tier 1 vendor stuff now (Dell/HP/Lenovo/Acer etc) as we've been burnt in the past (They were still more expensive anyway!)

 

A real shame tho, I've used them a lot personally over the years & now it just leaves Scan & Overclockers to sow up the UK custom build market.

 

Edited August 11, 2025 by DrCheese

[Roberto]

Never used ebuyer for large buys either personally or professionally.

 

Simply for me, they were harder to deal with than, say, Scan. Prices were never quite as good. Deals were never quite on the things I actually wanted. Website login was literally a problem for me there at one point, for no good reason I could discern.

 

I'm sad they're gone but on reflection I'm not sure I'm surprised they're gone.,

[MatthewL]

I have used them for probably 20 years when they were the cheapest out there, was my go to, did have some big orders through and use them at work but sometimes for bulk they just didn't cut it.  Have noticed in recent years they were not the best for pricing on some bits, couldn't even order compressed air from them last week, manage to order other bits but they haven't even arrived so we will see what happens there.

[DalekSec]

eBuyer have already been brought out by Mike Ashley's firm:

 

https://www.theregister.com/2025/08/12/uk_tech_retailer_ebuyer_heads/ 

[DrBeaker]

For us who were there at the start of the century ...

 

play.com

dabs.com

ebuyer.com

 

All gone.

[smurfomatic]

9 hours ago, DrBeaker said:

For us who were there at the start of the century ...

 

play.com

dabs.com

ebuyer.com

 

All gone.

 

Plus Maplin, and of course Misco have gone and come back at least once...

[tom_newton]

Maplin one of the early victims of PE vultures.

[6Foot2]

Link: Claire's collapses into administration putting 2,150 jobs at risk - BBC News

 

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Fashion accessories chain Claire's has collapsed into administration in the UK and Ireland, putting 2,150 jobs at risk.

 

The company has 278 shops in the UK and 28 in Ireland but has been struggling with falling sales and fierce competition.

 

Claire's said all outlets will continue trading while it considers "the best possible path forward".

 

Its administrators from Interpath said they will "assess options for the company", which could include selling the business to "secure a future for this well-loved brand".

 

Claire's chief executive Chris Cramer said the "difficult" decision to appoint administrators allows its stores to remain open...

 

[6Foot2]

Link: Kingsmill owner agrees to buy Hovis in deal that could create UK’s biggest bread brand | Mergers and acquisitions | The Guardian

 

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The owner of Kingsmill has agreed to buy its rival Hovis in a deal that could create the UK’s biggest bread brand if the competition regulator approves it, but also put jobs at risk.

 

The deal comes after decades of decline in the popularity of the packaged sliced loaf, with Hovis, owned by the private equity company Endless,

and its rival Kingsmill – part of Associated British Foods (ABF) – struggling to get out of the red for some years.

 

ABF, which also owns the Primark clothing chain, said the tie-up would combine the production and distribution activities of the two businesses, which is expected to lead to roles being shed...

 

[Homer]

On 12/08/2025 at 21:25, DrBeaker said:

For us who were there at the start of the century ...

 

play.com

dabs.com

ebuyer.com

 

All gone.

ahhh play.com man that was the one!

 

I used ebuyer a lot during my "I have no responsibilities and a job" days where I would build whatever I wanted. Used them for work on and off, just really sad they're gone. 

 

As for the Hovis/Kingsmill bread merger, they're both failing because their bread is crap. Supermarket bread is better.

[5nowman]

2 hours ago, Homer said:

ahhh play.com man that was the one!

 

I used ebuyer a lot during my "I have no responsibilities and a job" days where I would build whatever I wanted. Used them for work on and off, just really sad they're gone. 

 

As for the Hovis/Kingsmill bread merger, they're both failing because their bread is crap. Supermarket bread is better.

I got  usb sticks from them 2 weeks ago.. cheapest price out there!

Sucks they have gone.

[Ditto]

On 15/08/2025 at 09:02, 6Foot2 said:

Link: Kingsmill owner agrees to buy Hovis in deal that could create UK’s biggest bread brand | Mergers and acquisitions | The Guardian

 

 

That's a lot of dough for someone.

[Homer]

13 minutes ago, Ditto said:

That's a lot of dough for someone.

I shouldn't rise to this but take my upvote

[Norphy]

On 12/08/2025 at 15:11, DalekSec said:

eBuyer have already been brought out by Mike Ashley's firm:

 

https://www.theregister.com/2025/08/12/uk_tech_retailer_ebuyer_heads/ 

I did wonder about that when there were a load of Fraser Finance adverts on the front page of the site the eBuyer site remnant was linking to. 
 

To my eternal shame, i used to work for Watford Electronics back in the late 90s. Before they went bust, the MD of that firm had a habit of buying defunct computer brands (Time, Tiny, Carerra) and trying to integrate them into the main business. Looks like Mike Ashley is doing the same. 

[6Foot2]

Link: UK's third-largest steelworks collapses into government control - BBC News

 

Quote

The UK's third-largest steelworks has been placed under government control, creating an uncertain future for nearly 1,500 workers in Rotherham and Sheffield.

 

Insolvency courts granted a compulsory winding up order sought by creditors owed hundreds of millions of pounds by Speciality Steels UK (SSUK) – part of the Liberty Steel metals empire of controversial tycoon Sanjeev Gupta.

 

The company, which uses scrap metal to manufacture steel, will now be placed in the hands of the official receiver - a government appointed liquidator - and special managers from consultancy firm Teneo.

 

The government has agreed to cover the ongoing wages and costs of the plant while a buyer is sought.

 

Following the High Court decision, Liberty Steel's chief transformation officer Jeffrey Kabel told the BBC he was "really disappointed" as he thought they had "presented a very good case".

 

"We are by far the best company to run this business. We've run it for 10 years. Put a lot of blood, sweat and a huge amount of money into it," he said.

 

In a separate statement, Mr Kabel said the move would "impose prolonged uncertainty and significant costs on UK taxpayers for settlements and related expenses, despite the availability of a commercial solution".

 

Lawyers for Mr Gupta had applied for a four-week adjournment for time to place the company in a "pre-pack administration", which allows an insolvent company to sell its assets to a bidder.

 

He wanted funding from investment giant BlackRock and Fidera, which invests in distressed companies, to buy back the business.

 

Winding up the company, his lawyers argued, could place the business in "free fall" and incur significant disruption, cost and risk to a nationally important steel company and its 1,500 workers.

 

The judge found the company was "hopelessly insolvent" with £600,000 in the bank, a monthly wage bill of £3.7m, supported by a parent group that has 15 entities in insolvency proceedings across nine jurisdictions...

 

[6Foot2]

On 20/05/2025 at 13:08, Fazza said:

Looks like Poundland (unlike a lot of what it sells) is going to be sold for £1

 

https://metro.co.uk/2025/05/17/poundland-to-sold-1-hundreds-stores-facing-closure-23105233/

 

Link: Poundland rescue deal saves firm from administration - BBC News

 

Quote

Poundland has avoided collapsing into administration after its turnaround plan was approved days before the chain was due to run out of money.

 

The budget retailer had asked the judge to approve a deal, saying it would have run out of cash without it by 7 September.

 

Poundland has around 14,700 staff and operates about 800 stores. It has previously announced plans to close 68 shops after it was sold to a subsidiary of a private equity firm for £1, putting about 1,000 jobs at risk.

 

The High Court heard on Tuesday that the turnaround plan would see a significant injection of cash into the company...

 

[6Foot2]

On 19/11/2024 at 16:55, 6Foot2 said:

Link: No-frills US carrier Spirit Airlines files for bankruptcy protection - BBC News

 

Link: No-frills Spirit Airlines files for bankruptcy for the second time in a year | The Independent

 

Quote

Spirit Airlines has filed for bankruptcy for the second time in a year.

 

The company — which is the nation's largest budget airline — failed to secure its finances after it emerged from its previous Chapter 11 filing back in March, according to CNBC.

 

Spirit will continue operating, the airline confirmed on Friday.

 

The company had been attempting to rebrand from a no-frills value option for cost-cautious travelers to a premium brand, but consumer spending is still down, as Americans respond to inflation and fears over tariff-related price increases on staple goods.

 

“Since emerging from our previous restructuring, which was targeted exclusively on reducing Spirit’s funded debt and raising equity capital, it has become clear that there is much more work to be done and many more tools are available to best position Spirit for the future,” Spirit Airlines CEO Dave Davis said on Friday...

 

[6Foot2]

On 07/09/2024 at 15:59, 6Foot2 said:

Link: The Body Shop rescued from administration by Auréa Group - BBC News

 

Link: Beauty chain Bodycare to close 32 stories in administration - BBC News

 

Quote

Struggling health and beauty chain Bodycare says it will immediately shut 32 of its stores across the UK and make 450 staff redundant, after going into administration.

 

Known for being a bargain stop for cosmetics and beauty products, including big tubs of popular moisturisers and conditioners displayed on floor-to-ceiling shelves, the firm has about 1,500 employees.

 

It has 147 bricks-and-mortar shops which have become too expensive to maintain amidst rising rents.

 

The company's administrators said retailers were facing "challenging times" with rising costs and fierce competition for consumer spending.

 

The firm, established in Lancashire in 1970, said the majority of its stores will continue to trade as normal while it explores "options" including looking for a buyer.

 

Bodycare will shut stores in places including Croydon, Edinburgh, Hemel Hempstead, Scunthorpe and Wrexham...

 

[6Foot2]

Link: Cornwall's tourist board enters liquidation - BBC News

 

Quote

The official tourist board of Cornwall has entered voluntary liquidation, the organisation has confirmed.

 

A spokesperson for Visit Cornwall said the decision was due to "insurmountable financial problems".

 

It comes after a business review and organisational changes instigated by the board in August.

 

The spokesperson said it had been an "incredibly difficult decision" but was "the only responsible choice" and they "needed to take it before another round of membership payments was due in two months".

 

Chairman of the board Jon Hyatt said non-executive voluntary directors had worked "tirelessly, in an extremely challenging environment, to create a long-term sustainable future for Visit Cornwall".

 

He said the board had explored "every avenue possible"...

 

[Ditto]

If the beautiful county of Cornwall can not sustain a tourist board, I would fear for many more counties in the UK.