Insolvencies in the hotel sector doubled over the winter and are set to
worsen, according to PricewaterhouseCoopers.
Thirty-six hotel businesses failed in the final quarter of 2008, double the
18 reported in the previous three months, The Times reported.
In total, 87 hotels were plunged into insolvency during 2008, twice the
number that failed in 2007.
The privately-owned Folio Hotels last week had its assets, mainly leasehold
hotels, carved up by administrators MCR.
Niche hotels had two properties placed into administration, including Wyck
Hill House, a luxury estate in the Cotswolds.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.