Made.com today confirmed that its brand has been bought by Next after the online furniture retailer, whose stock soared during the pandemic, fell into administration putting 500 jobs at risk.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Companies House is dysfunctional and facilitates fraud, ministers told
The anti-fraud leader at the trade body UK Finance has said the government needs to fix the “dysfunctional” Companies House because it is helping to facilitate business fraud.
Number of restaurants and food outlets entering liquidation up by almost 50%
The number of restaurants and food outlets entering liquidation has increased by almost 50%, amid warnings the sector is in a state of impending collapse.
Joules sounds alarm over possible loan default as it calls on investors for emergency funding
Joules warned yesterday that it may default on a bank loan at the end of this month and could call on investors for more funding in an emergency capital raise. The news sent its share price down by more than a fifth.
Festive spending to suffer as households tighten belts
Half of Britons plan to cut down on Christmas gifts and activities to try to save money amid the biggest squeeze on household budgets in decades, a survey shows.
Energy windfall tax a ‘disaster’ for small North Sea producers
Increasing the oil and gas windfall tax would be “disastrous” for the sector and hasten a flight of investment to more stable tax regimes overseas, a group of leading independent North Sea producers has warned.
UK’s first lithium refinery to be built in boost for electric car industry
Britain’s first lithium refinery is to be built on Teesside in an effort to boost the UK’s electric car supply chain despite uncertainty over the future of the industry.
UK house prices fall at sharpest pace in almost two years
UK house prices suffered their biggest monthly drop for almost two years in October, with the fall largely brought on by the mini-budget and the “significant shock” it caused the property market.
Now strikers threaten Black Friday chaos as Amazon packaging workers vote to walk out
Shoppers could be hit by Black Friday shortages after nearly 1,000 workers at an Amazon packaging company voted in favour of strike action, it was announced today.
CVC makes £1.5bn approach for IWG’s Instant Group arm
The private equity backer of Six Nations Rugby has approached Britain’s biggest serviced offices provider about a £1.5bn deal that could trigger a broader break-up of the group.
Furniture retailer Made.com to enter administration
The online furniture retailer Made.com’s dream of becoming the “new Ikea” will die today when administrators are appointed, triggering about 500 job losses and leaving thousands of customers in the lurch.
Apple warns iPhone shipments will be delayed due to Covid restrictions at Foxconn plant
Apple has said it expects fewer iPhone 14 Pro and iPhone Pro Max shipments than previously anticipated as Covid-19 restrictions temporarily disrupt production at an assembly facility in Zhengzhou, China.
Facebook’s parent Meta prepares to slash thousands of jobs
Facebook’s parent company, Meta, is reportedly preparing to cut thousands of jobs after $80bn (£69bn) was wiped off its market value last month amid the global economic downturn.
Push to ban export of plastic waste
MPs have called for a total ban on the export of plastic waste by 2027, arguing that the present system merely outsources the problem and causes significant environmental harm elsewhere.
Services sector shrinks for first time since lockdown
Activity in Britain’s dominant services sector contracted last month for the first time since the start of the third Covid-19 lockdown in January last year, according to a closely watched survey.
