Dive Brief: Ruby Tuesday instructed Regions Bank to stop paying pensions to at least 112 retirees as of July 21, only to declare insolvency on Sept. 2, according to documents obtained by Business Insider.The agreement between Regions and Ruby Tuesday shows that the chain needed to let the bank know of its insolvency prior to…
It was just a few weeks ago that Scott Morrison put his team in “election mode”. There should be no doubt that Morrison hopes that the budget, to be brought down next Tuesday, will carry them through to an election next year. Given the considerable uncertainty about whether the virus can be effectively contained to…
Photo: Shutterstock With so much economic strife and uncertainy on our doorstep, many HR leaders will have to take a deep breath and confront the difficult issues of company insolvency and administration. Raoul Parekh and Ben Smith, offer guidance These are difficult times for businesses in almost every sector, and sadly a rise in insolvencies…
An FFA spokesperson said Neill and Ferguson-Cook were there in an ambassadorial capacity to help co-ordinate Gustavsson’s unveiling but would not confirm if a formal deal was in place with the 42-year-old. However, sources close to the federation indicated the former Blackburn, West Ham and Everton defender was not making a one-off cameo but had…
ONE of East Lancashires leading insolvency law firms has appointed a new specialist to its business recovery team as part of a planned expansion. Matthew Martin will be joining Blackburn firm Napthens after completing his training contract in Cheshire and developing specialist skills and knowledge in insolvency law. Mr Martin, a University of Sheffield graduate,…
Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called regulatory shield) that expires…
New rules will allow insolvent small businesses to keep trading rather than go straight into administration. Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of…
Thousands of employers could see substantial rises in levies paid to the Pension Protection Fund as Covid-19 prompts a wave of business failures, the UK industry lifeboat scheme has warned. Roughly 5,500 corporate pension schemes pay annual levies to the PPF, which pays compensation to members of defined benefit plans where the sponsoring employer has…
Treasurer Josh Frydenberg. Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called regulatory…
Bankrupt gunmaker Remington Outdoor will split up its business and sell the pieces to seven different buyers following a bankruptcy auction, court records show. The biggest sale will go to Minnesota-based Vista Outdoor, which said it will pay $81.4 million for Remingtons brand and trademarks along with parts of its ammo and accessories business including…