A training company whose state funding was cut after a Sunday Mail investigation into job agencies luring the unemployed into subsidised courses has collapsed into liquidation. It comes as nine companies remain under investigation by the State Government, which will consider hiking penalties for companies caught breaching contract rules under the training scheme. A special…
The founder of office provider IWG, Mark Dixon, faces a legal challenge as landlords battle his decision to put the Jersey-based subsidiary which guaranteed their rents into bankruptcy. IWG angered landlords with the move in October, which came after it drew a 644m dividend from the Regus plc subsidiary last year. The decision effectively left…
UK-based firms are facing losses of around 1.86 billion (appr. $2.46 billion) which could result from unpaid invoices, even though the nations businesses have received financial support from the governments COVID-19 relief packages. Red Flag Alert, an insolvency company that assists businesses with safeguarding their operations from financial risks, has revealed that UK firms may…
New data from Coresight Research reveals American retailers have announced 8,400 closures this year. Ascena Retail closed the most locations, at nearly 1,200. Coresight anticipates closures will snowball and set a new record this year, breaking the 2019 record of 9,302 closures tracked by the firm. Business is equally bleak for the US restaurant industry.…
In the past week, suicides of a bank employee, a small business owner and a lathe operator in Tamil Nadu had one thing in common mounting debt caused by an addiction to online gambling. In July, it was a 20-year-old part-time tattoo parlour staffer who hanged himself after losing 20,000 on a gaming app.Although exact…
Deficit hawks have been attacking the idea of student debt relief using straw men and deceptive data. The offenders include the Brookings Institution, Goldman Sachs, and the Pete Petersonspawned Committee for a Responsible Federal Budget. Here are their key arguments: First, a lot of student debt is held by relatively well-off people and those with…