There are 124,000 businesses across Greater London in significant financial distress, with almost all sectors being affected. Red Flag Alert data for Q3 2019 found that significant financial distress is increasingly prevalent throughout the capital, with 21 out of 22 sectors experiencing an increase.
In yet another blow to the UK high street, Mothercare is the latest retailer to collapse into administration. In truth, the writing has been on the wall for the children’s retailer for quite some time now; it has failed to compete with cheaper rivals and keep up with fast-changing shopping habits and tastes of consumers.
Ask anyone today what the top reason for economic uncertainty is, and they’ll give you a one-word answer – Brexit. Indeed, Brexit is now cited in around a quarter of all profit warnings as being a contributor to poor financial performance.
If Financial Markets Infrastructure (FMI) services are left open to risk, the consequences can have a devastating impact on people’s lives. Just take the 2008 banking collapse as an example: banks went bust, companies closed, redundancies were made, families lost homes.
Recently I reread a report by McKinsey & Company on what customers care about most in B2B sales. The article is called “The basics of business-to-business sales success”, and it contains some useful insight into the differences between what customers say they want, and what they actually want from a salesperson.
Like many industries, insurance is transforming as new technologies emerge. These new products that fall under the umbrella of ‘insurtech’, offer a raft of unique solutions for consumers, innovators and incumbent brands.
Pizza Express is the latest restaurant chain to hit the headlines as its financial woes reach boiling point. The company is saddled with a mountain of debt – debt that is eating their profits and leaving the business technically insolvent. And now the latest news is that the company is hiring financial advisers to help negotiate a deal with its creditors.