Last year Brexit dominated our lives, such was the significance of Brexit a government minister responsible for all things Brexit was appointed. This year Covid-19 emerged and has already proved to be a far more significant issue than Brexit, but no ministerial appointment made. As Secretary of State for Health and Social Care, Matt Hancock has certainly taken a lead in … [Read more...]
Virgin Atlantic files for bankruptcy in New York
Virgin Atlantic declared itself bankrupt in a New York court yesterday seeking protection from creditors. Working under the US Chapter 15 bankruptcy code, Virgin Atlantic can look to shield assets in the US through this process. Non-US companies frequently use chapter 15 to stop creditors filing claims on assets held in the US. The airline is fighting the ongoing impact from … [Read more...]
Accor CEO reports “violent and unprecedented” first half 2020 finances
Accor have today released first half 2020 results that are an almost shocking reflection of the impact from Covid-19 on hotels and hospitality worldwide. The scale and scope of Accor enables a global picture of the crisis, presenting financial numbers emphasising how Covid-19 has hit their balance sheet. The first half of 2019 showed a profit of €141 million, in the … [Read more...]
Pizza Express for sale
Pizza Express has today announced that agreement has been reached with certain of its secured creditors and its majority shareholder, Hony Capital, for a holistic recapitalisation and restructuring transaction which will significantly strengthen the Group and provide funding to deliver its future growth plan. The planned restructuring will both address the … [Read more...]
Apple acquires restaurant payment app for $100 million
Apple has acquired Mobeewave in a move that continues the global adoption of cashless payment from cards to smartphones. The deal follows others where Apple’s strategy is to integrate smart startup apps into its own technology. The price of $100 was reported by Bloomberg sources close to the deal and further adds simple and significant functionality to iPhones. By … [Read more...]