BusinessBusiness RecoveryBackgrounder: More adminstrations, but a bit of good news

Backgrounder: More adminstrations, but a bit of good news

More insolvency woe, but a glimmer of hope from a couple of retailers

Another week, another great big pile of administration stories.

The banking industry got involved of course, with investor Stodir entering
administration after its investment in Glitnir was diluted after the bank was
effectively nationalised by the
Icelandic
government
.

PwC warned that the
pub sector would face a sharp rise in insolvencies, which is enough to drive you
to drink.

KPMG was called into rescue
Royal
Worcester
, and David Rubin’s practitioners went to work on retailer
JOY.

But it hasn’t all been bad. MFI
was rescued
from collapse when it successfully refinanced through
an MBO.

Other retailers,
Tesco
and GAME Group posted
good numbers.

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