Businesses in financial trouble

[Andrew_C]

The COST of a holiday in Cornwall!  Don't get me wrong, I love it, but...

 

(I wonder where their funding used to come from?

[TheHyperTechie]

5 minutes ago, Andrew_C said:

The COST of a holiday in Cornwall!  Don't get me wrong, I love it, but...

 

(I wonder where their funding used to come from?

The Government, according to this: https://www.thebusinessdesk.com/south-west/news/29325-visit-cornwall-enters-liquidation-as-government-funding-ends

[LeMarchand]

I thought tourism was the only industry in Cornwall.

[AlistairB1983]

28 minutes ago, Andrew_C said:

(I wonder where their funding used to come from?

 

Before the Government stepped in, the EU.

 

Without wandering into dangerous territory, there's a line about Turkey's voting for Christmas that seems somewhat apt.

[Andrew_C]

45 minutes ago, AlistairB1983 said:

 

Before the Government stepped in, the EU.

 

That was my suspicion.

 

Other industries - pasties, crab, and mackerel.  

[sigma]

10 minutes ago, Andrew_C said:

That was my suspicion.

 

Other industries - pasties, crab, and mackerel.  

Dairy - clotted cream, cheese.  Arts and crafts, Some seriously outstanding gardens, "Heritage" - tin, china clay, Goonhilly.  Rick Stein?

[Andrew_C]

Are they still planning/building a spaceport at St Mawgan?

[6Foot2]

Link: Roberts Bakery: Family-run Northwich business battles to survive - BBC News

 

Quote

A family bakery business has confirmed it is in talks aimed at saving the 138-year-old company.

 

Cheshire-based Roberts Bakery announced on Monday that it was intending to appoint an administrator to help "secure the best possible outcome" and save as many jobs as possible.

 

A blaze at its Northwich factory two years ago resulted in the loss of two-thirds of production capacity for more than a year.

 

About 400 of the 700 jobs at the factory could be lost, said a company spokesperson...

 

[Dos_Box]

Beech's Fine Chocolate here in Preston has had to close due to the international price of cocoa going through the roof 😞
A real shame as they did some very, very good chocolate.

 

https://www.blogpreston.co.uk/2025/09/prestons-beechs-fine-chocolates-closes-after-125-year-of-trading/

 

 

[ZeroHour]

On 13/10/2025 at 10:25, Dos_Box said:

Beech's Fine Chocolate here in Preston has had to close due to the international price of cocoa going through the roof 😞

That’s terrible news after just discovering them thanks to you

[6Foot2]

Link: Pizza Hut to close 68 UK restaurants after falling into administration - BBC News

 

Quote

Pizza Hut UK is to close 68 restaurants and 11 delivery sites with the loss of 1,210 jobs after falling into administration.

 

DC London Pie Limited, which operates Pizza Hut's UK restaurants, appointed FTI Consulting as administrators on Monday.

 

However, Pizza Hut's global owner Yum! Brands has agreed to save 64 restaurants in the UK, preserving 1,276 jobs.

 

Pizza Hut is well known for its family-friendly dining and salad bar, but has been struggling and had previously gone into administration less than a year ago.

 

DC London Pie had bought Pizza Hut UK's restaurants from insolvency in January this year. The company also owns Pizza Hut franchises in Sweden and Denmark...

 

[6Foot2]

Hadn't seen this until tonight:

 

Link: Tomato Energy Faces Administration After £1.5m Fine

 

Quote

Ofgem Escalates Enforcement Action

Just two weeks after confirming a £1.5m redress order for service and compliance failings, Ofgem has now published a proposal to impose a financial penalty on Tomato Energy Limited for failing to maintain sufficient liquidity.

 

Quote

Regulatory Finding: The regulator found that Tomato Energy did not meet standard licence conditions requiring it to "obtain and maintain liquidity at a level that enables it to pay its ongoing financial liabilities."

 

This marks another major breach following Ofgem's April 2025 provisional order, which had already banned the supplier from taking new customers until its £3m debt position was resolved...

 

[Ditto]

I suppose Sheffield Wednesday should be added to this thread. Any supporters out there that could pass comment?

[6Foot2]

Link: Oil firm Petrofac files for administration - BBC News

 

Quote

Offshore energy firm Petrofac has filed for administration.

 

The energy services provider, which employs about 2,000 people in Scotland, said its North Sea business would continue to operate as normal.

 

In a statement, the group said it had applied to appoint administrators for its holding company, but that alternative restructuring options were being explored.

 

It added that administrators would work to "preserve value, operational capability and ongoing delivery".

 

The decision comes after Dutch grid operator TenneT terminated a major offshore wind contract, external with Petrofac, which has been undergoing a financial restructuring over the past year...

 

[6Foot2]

Link: Repairs left unfinished as firm behind huge schools PFI contract goes into liquidation - BBC News

 

Quote

The company behind the largest schools Private Finance Initiative (PFI) contract in England is going into liquidation, heightening concerns that 88 schools in Stoke-on-Trent could be left with unfinished building work and repairs.

 

Schools in the city have paid Transform Stoke Schools Ltd (TSSL) to keep their buildings in good condition over the course of a 25-year contract that expired on 25 October.

 

In a letter seen by the BBC, the chief executive of Stoke-on-Trent City Council told schools TSSL was going into Creditor Voluntary Liquidation - meaning its directors are taking steps to close it down.

 

The council told the BBC its priority was ensuring children have safe, high-quality buildings.

 

The council made clear, external as the contract drew to an end in late October that not all repairs would be finished, and said it was working with the main contractor to ensure work continued.

 

Now the letter sent to schools this week says some suppliers may not have been paid and unfinished works not "fully and satisfactorily completed".

 

Warranties for some work that has been done have not yet been obtained...

 

[6Foot2]

Link: Stratford recycling company Unimetals files for liquidation - BBC News

 

Quote

Recycling company Unimetals, which has dozens of sites across the UK, has filed for liquidation.

 

The company's head office is in Stratford-upon-Avon, and has sites scattered around the country, including London, Halesowen, Staffordshire, Greater Manchester and Devon.

 

It is unclear when the firm will go into liquidation, and how many jobs are at risk.

 

"We have worked tirelessly to explore every possible option to secure new financing for Unimetals Recycling (UK) Ltd, with the aim of meeting our financial obligations and safeguarding the future of the business," a spokesperson said on Monday...

 

[Arthur]

Link: Leon to cut jobs and close fast food restaurants

 

Quote

Fast food chain Leon is planning to close restaurants and cut jobs, less than two months after it was bought back from Asda by its co-founder John Vincent.

 

The chain said on Wednesday that it had appointed administrators to lead a restructuring programme, and it was considering how many of its 54 restaurants would need to shut. It did not say how many roles could be affected.

 

Vincent, who founded Leon in 2004 with Henry Dimbleby, who later became a government food tsar, and chef Allegra McEvedy, bought the business back in October, four years after he sold it to the billionaire Issa brothers’ EG Group petrol forecourts business in a £100m deal.

 

The chain has now hired advisers from Quantuma after applying for an administration order, and aims to put the business into administration as soon as possible, a process which will help it to manage debt payments as it attempts to secure its long-term future.

 

Since Vincent’s buyout, 10 outlets have already closed, including three overseas franchises, and the entrepreneur has announced plans to ditch Leon’s £25-a-month Roast Rewards scheme from January. Subscribers could claim up to five coffees a day and discounts on food.

 

He has also signed up staff to training in wing tsun, a martial art, to improve coffee-making times “while lowering heart rates”.

 

Asda, which the Issa brothers also invested in, bought Leon along with most of EG’s UK arm in 2023, but it has struggled under the ailing supermarket.

 

Edited December 11, 2025 by Arthur

[synaesthesia]

The moment someone is described as a "tsar" or "champion" is the moment you know to get the hell out of there

[Syman_a]

Roomba vacuum cleaner firm iRobot files for bankruptcy - BBC News

[RedwayNetworks_Michael]

On 24/10/2025 at 23:10, Ditto said:

I suppose Sheffield Wednesday should be added to this thread. Any supporters out there that could pass comment?

Unfortunately yes i am haha

we have light at the end of the tunnel though.

 

For some reason the football industry works a lot different to any other industry. 

Consequences can cause a whole community to suffer yet nothing can be done about bad owners.

[6Foot2]

Link: Lidar-maker Luminar files for bankruptcy | The Verge

 

Quote

Luminar, the lidar manufacturer that rode a wave of self-driving car hype to land deals with major automakers like Volvo and Mercedes-Benz, filed for bankruptcy Monday. The company has been mired in a legal fight with its founder and former CEO, Austin Russell, who was ousted earlier this year following an ethics inquiry.

 

As part of its bankruptcy, Luminar is seeking permission to sell both its lidar and semiconductor businesses, the latter of which it has already agreed to sell to Quantum Computing for $110 million. The company plans to continue to operate during the bankruptcy proceedings “to minimize disruptions and maintain delivery of its LiDAR hardware and software.” That said, Luminar will cease to exist once the process is complete.

 

“As we navigate this process, our top priority is to continue delivering the same quality, reliability and service our customers have come to expect from us,” CEO Paul Ricci said in a statement...

 

[6Foot2]

NOTE: Not a political post: No political replies are expected, nor are they invited.

 

Link: PPE company linked to ex-Tory peer Michelle Mone goes into liquidation | Michelle Mone | The Guardian

 

Quote

The company linked to the former Conservative peer Michelle Mone, which owes the government almost £150m for supplying unusable personal protective equipment during the Covid-19 pandemic, has been put into liquidation.

 

The Department of Health and Social Care (DHSC) applied for PPE Medpro to be wound up at a high court hearing on Thursday, arguing that the company was “hopelessly insolvent” and should not continue in administration.

 

Mone’s husband, the Isle of Man-based businessman Doug Barrowman, owned PPE Medpro, which was awarded two contracts worth £203m to supply PPE after Mone approached Michael Gove, the then Cabinet Office minister, in May 2020.

 

The contracts were processed via the “VIP lane” operated by Boris Johnson’s Conservative government during the pandemic that gave high priority to people with political connections. Mone was appointed to the House of Lords as a Conservative peer by David Cameron in 2015...

 

[sigma]

11 minutes ago, 6Foot2 said:

NOTE: Not a political post: No political replies are expected, nor are they invited.

 

Link: PPE company linked to ex-Tory peer Michelle Mone goes into liquidation | Michelle Mone | The Guardian

 

 

 

Mone and Barrowman "should" be disqualified from owning companies or holding directorships.

[dmj]

1 hour ago, sigma said:

 

Mone and Barrowman "should" be disqualified from owning companies or holding directorships.

 

They "should" pay the money back too, but hey...

[6Foot2]

Link: Sixes: Social cricket-themed bar chain goes into administration - BBC News

 

Quote

Sixes, the cricket-themed social chain backed by England captain Ben Stokes, has gone into administration following a "challenging trading period".

 

All of the company's 15 UK-based venues remain open, but one branch in Southampton has closed following the decision, with three staff members losing their jobs.

 

Administrators FRP Advisory said talks were under way with a "number of interested parties" about a sale for the business and its strongest-performing sites, suggesting some other closures could happen.

 

Tony Wright, joint administrator, said the priority was to "secure the best outcome for the business" while honouring customer bookings "through the Christmas period and beyond".

 

Sixes, which was launched in 2020, is a chain that combines hospitality with cricket. It hosts parties in which people face bowling machines and try to score as many runs as possible...

 

They are at sixes and sevens!