Page 77 - Interpath Advisory News Today

Scottish builders under financial threat By Kristy Dorsey Thousands of construction firms in Scotland face a “high risk” of closing in the coming months as new tax rules and the end of government financial support combine to create pressure that will be felt particularly by sub-contractors. The warning from restructuring specialist Azets comes as furlough has started winding down to its eventual closure in September. The end of the employment support scheme also coincides with the exp...

Picture: Colin Mearns By Ian McConnell The number of larger corporate insolvencies in Scotland in the six months to June was less than half of that in the same period of 2020, prompting one expert to flag concern “in some quarters” about “an army of zombie companies”. Interpath Advisory, formerly KPMG Restructuring, noted an “array of government Covid-19 support measures and a supportive lending community continued to help businesses trade their way through the pandemic”. It s...

Market Halls launches CVA proposals Market Halls has launched a Company Voluntary Arrangement (CVA) proposal for four group entities in a bid to secure its future following more than a year of closure. The London-based food hall operator, which has three locations across the capital in Victoria, Fulham and the West End, announced in July last year​​ that it had taken the decision to keep all of its sites closed while social distancing remains. With Market Halls...

Why fashion is paying green dividends Boohoo Group’s new remuneration policy is the latest "green" financing initiative to offer incentives for fashion’s environmental and social performance Boohoo Group announced in its annual report, published on 19 May, that its remuneration policy for the financial year ending February 2022 will link the bonuses of its senior executive directors – including its co-founders, CEO Carol Kane and executive chairman Mahmud Kamani – to its environmental, ...

The Richoux brand and its intellectual property has been sold by administrators to Naveen Handa of Newcastle-based hotel and bar operator the Cairn Group.

High Court gives Virgin Active CVA green light in further blow for landlords Landlords have lost their legal challenge against Virgin Active’s restructuring plan, in the second high profile defeat for commercial property owners this week. Today’s High Court judgement will come as a further blow to landlords hoping to challenge tenants over Company Voluntary Arrangements.  It comes after the court gave New Look the green light to press ahead with its restructuring plan earl...

(2) H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with over €35 billion of equity capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire KPMGs UK restructuring business, a leading provider of insolvency, financial restructuring and turnaround services in the UK and globally. Terms of the transaction, which is expected to complete in April 2021, were not disclosed. KPMG UK Restructuring is a leadin...

KPMG unit sale creates new restructuring behemoth Interpath Advisory KPMG has agreed the sale of its restructuring arm to HIG Europe, creating a new restructuring company in the process. KPMG has signed an unconditional agreement to sell its restructuring practice to Interpath Advisory, a newly-formed company backed by private equity firm HIG Europe. The sale will see 22 partners and around 528 staff currently employed in KPMG’s restructuring practice transfer to Interpath A...

KPMG sells restructuring arm to avoid conflicts of interest Staff will move to a new independent firm backed by private equity giant HIG (Liam McBurney/PA) KPMG has sold its restructuring arm in a bid to avoid conflicts of interest in its business, becoming the second Big Four auditor to exit the fluctuating insolvency market in the last month. The unit will be spun off as Interpath Advisory, which KPMG said will become the largest independent restructuring and turnaround business in the UK. It...

So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money, says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme...