Italian Retailer Modes Placed Under Judicial Liquidation

MILAN — Italian retailer Modes has been placed under judicial liquidation after failing to carry forward with its business restructuring plan. As reported, the company had filed for a “compositions with creditors” procedures with a Milan court in May 2024 against slowing sales and a deteriorated business environment. More from WWD In the final verdict…

Festival-goers lose Glastonbury tickets and face being thousands out of pocket as company ‘ceases trading’

Yurtel Limited told customers the company is “unable to fulfil any ticket and accommodation bookings” for Glastonbury 12:45, 22 May 2025Updated 14:27, 22 May 2025 Glastonbury Festival. File picture(Image: PA/Yui Mok) A Glastonbury glamping company has “ceased trading” in an email to customers. Yurtel, a luxury glamping accommodation and hospitality, has informed customers it has…

Scarp is a solid and much-needed tool

Crowe Ireland has noted a significant number of distressed companies seeking advice as to whether the Small Company Administrative Rescue Process (Scarp) could be used to reduce their liabilities and resize their balance sheet, so the restructured operation can become a going concern again. “We adopt an approach where we will quickly establish from consultation…