“Madhouse” retail fashion chain goes into administration

February 3, 2012 by · Comments Off on “Madhouse” retail fashion chain goes into administration
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Poor sales performance over Christmas and the New Year has ended with the Deluxe Retail trading arm “Madhouse” entering administration. 700 jobs at the fashion retail store are in danger as corporate accounts show net losses nearing £200,000. Administrators have been appointed. This is yet another hit for the high street retail sector.

Don’t Pay the Ferryman

January 10, 2012 by · Comments Off on Don’t Pay the Ferryman
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By order of a French Court, the Tribunal de Commerce, SeaFrance went into liquidation yesterday Monday 9th January. After going into receivership in 2010, and the rejection of the workers co-operative plan to try and save the company, the court decided that none of the options were ‘financially viable’. Hundreds of jobs will be lost in Kent, Dover and France. There is already speculation over possible buyers of SeaFrance including a potential bid from Eurotunnel.

Sea France taking on water, but will she sink?

November 16, 2011 by · Comments Off on Sea France taking on water, but will she sink?
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The cross-channel ferry operator, Sea France, suspended its service on 15th November for 48 hours, while it awaits a legal decision on its future. It comes after the European Commission ruled that a €200m “bailout” by the French Government breached EC state aid rules. A decision on the company’s future is expected shortly from the Tribunal of Commerce in Paris. Nearly 200 jobs in Dover are at risk.

Bona Vacantia rules change

October 14, 2011 by · Comments Off on Bona Vacantia rules change
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As from today (14 October) the Treasury Solicitor has removed the concession whereby if the share capital paid out during a striking off was less than £4000, they would not seek to recover that sum. Directors still need to comply, if applicable, with HMRC’s ESC 16, although this itself is being removed and replaced with a statutory provision in due course.