Begbies Traynor
| Use attributes for filter ! | |
| Stock price | BEG |
|---|---|
| Disclaimer | |
| Headquarters | United Kingdom |
| Founded | 1989 |
| Number of locations | 50 offices |
| Subsidiaries | Taylors BusineS Surveyors & Valuers Ltd |
| Date of Reg. | |
| Date of Upd. | |
| ID | 1297744 |
About Begbies Traynor
Begbies Traynor is a firm specialising in corporate restructuring. They were formed in 1989, expanded through mergers and organic growth and were floated in 2004. The company employs over 500 people and has 45 offices around the United Kingdom.
Sharp rise in UK firms at risk of going bust, insolvency data shows
... The number of firms in " critical financial distress" jumped by 25% in the last three months, according to insolvency experts Begbies Traynor...
Paperchase: Stationery chain falls into administration
... Begbies Traynor, who have been appointed as joint administrators, said in a statement: " Unfortunately, despite a comprehensive sales process, no viable offers were received for the company, or its business and assets...
Hunt to set out plan for growth as criticism mounts
... The next day, insolvency firm Begbies Traynor said the number of firms on the brink of going bust jumped by more than a third at the end of last year...
Warning that thousands of firms face collapse
... The number of firms on the brink of going bust jumped by more than a third at the end of last year, said insolvency firm Begbies Traynor...
Paperchase hunts for buyer but prepares for insolvency
... The firm said it has a number of buyers interested in the business but was also taking to the insolvency experts Begbies Traynor about options for its future...
Missguided shoppers will not get refunds for returns
... How to get your money back when a company goes bustSource: Many individual customers will end up as " victims of the company s collapse" warned Julie Palmer, partner at insolvency firm at Begbies Traynor...
Boohoo hit as shoppers return more clothes than before Covid
... Julie Palmer, a partner at corporate restructuring firm Begbies Traynor, said that given rising costs, people may hold back on clothes shopping...
Number of firms in critical financial distress rises sharply
... Construction and hospitality are the sectors struggling most, according to insolvency firm Begbies Traynor...
Boohoo hit as shoppers return more clothes than before Covid
Boohoo's profits have taken a hit after online shoppers returned clothes at a faster rate than before the pandemic.
The fast-fashion brand's profits before tax slumped by 94% to £7. 8m in the year to The End of February.
Its sales are still well above pre-Covid levels after high streets closed and shoppers turned to ordering online.
But since restrictions were lifted customers have flocked back to physical stores and Boohoo says its online shoppers are sending more items back.
Overall, Boohoo's sales rose 14% on the year to £2bn. But it warned that challenges caused by the pandemic, including rising shipping costs and overseas delivery delays, would continue this year.
Boohoo's brands include BoohooMAN, Karen Millen , Nasty Gal , PrettyLittleThing, Coast, Misspap, Oasis, Warehouse, Burton, Wallis, Dorothy Perkins and Debenhams.
For online fashion retailers, returns can be a major headache and A Sign that business is not booming.
Wednesday's news of a collapse in Boohoo's profits
The easing of lockdown restrictions has led to customers going out more and return rates have been rising.
Boohoo said customers had returned items faster than expected in the Second Half of the year, with the rate now higher than it was before the pandemic.
'Stay relevant'As shopping habits change following the pandemic, The Rising cost of living is also hitting consumer spending, .
The prices of items in shops has seen the highest increase in More Than a decade.
Shop prices were up 2. 7% year-on-year in April, the highest since September 2011 and up from 2. 1% in March, according to The British Retail Consortium.
Julie Palmer, a partner at corporate restructuring firm Begbies Traynor , said that given rising costs, people may Hold Back on clothes shopping.
" The outlook isn't pretty, with inflation a real concern, " She Said .
" Boohoo is going to have to come up with some new looks if it is going to stay relevant as it doesn't take long for consumers to Shop Around for faster, more relevant alternatives These Days . "
Pandemic disruptionBoohoo said that lockdowns in some of The Key countries it sells in, Like China , meant people were not buying as many clothes.
International delivery delays due to Covid also caused issues in getting stock from factories and out to customers.
The Company said it expects these pandemic-related issues " will continue for the year ahead".
To combat these problems, Boohoo said it was making its supply chain more flexible, its delivery network larger and investing in a new distribution hub in the US.
But its clothes could start to cost more with The Company only committing to " mitigate where possible before passing prices on to consumers".
Are you returning clothes more often? What are your reasons for doing so? .
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Source of news: bbc.com
