UK furniture company enters administration after 8 years

Furneo is a family business offering “quality furniture at affordable prices”. It operates a store in Buntingford and sells to customers across the UK through its website. The company, incorporated in June 2018, had built a positive reputation with a 4.2-star rating from 149 reviews on Trustpilot. Many customers praised its “excellent” products, service, and…

Raleigh and Lapierre initiate legal steps to secure futures following Accell Group insolvency

Bicycle brands Raleigh and Lapierre have initiated legal steps to secure their own futures, following Accell Group’s suspension of payments. Lapierre has filed for judicial reorganisation with the Dijon Commercial Court, while Raleigh has filed a notice of intention to appoint administrators. “We will fight to preserve as many jobs as possible” If the authorities approve…

NUMSA wins bid to block liquidation of diamond mine

Ekapa Minerals’ diamond mine in Kimberly has been placed into business rescue after a court challenge by NUMSA. Photo supplied The Northern Cape High Court has set aside the liquidation of Ekapa Minerals and placed it into business rescue. This comes after NUMSA challenged the liquidation and proposed a rescue plan that includes a R25-million…

Raleigh owner Accell Group enters insolvency proceedings

Accell Group, the Dutch owner of Raleigh bicycles, has entered court-supervised insolvency proceedings in the Netherlands after takeover talks collapsed, while Accell UK and Ireland has filed a notice of intention to appoint administrators. The group, whose brands also include Haibike, Lapierre, Ghost and Babboe, said in a statement that Dutch courts had granted a…