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Coach company may be on the road again
A strategic review of Wigan-based coach holidays firm Shearings is said to be looking at a number of options to deliver its mid-term growth plan and there is press speculation this could include a corporate finance move such as a stock market float or possible sale. The Independent on Sunday...
Royal Liver in takeover talks with largest UK insurer
Struggling with losses brought on by the recession, Liverpool insurer Royal Liver is in takeover talks with larger rival Royal London, which bought Wilmslow-based Refuge Assurance in 2000. This is the second time in less than three years that the Merseyside business, based in the iconic...
Asda in £6.9bn group restructuring deal with Leeds subsidiary
The third-biggest supermarket chain in the UK, Asda, has been sold in a group restructuring deal to Corinth Services Limited, an investment vehicle based in Leeds, which is a fellow Wal-Mart group company. Revealing the company restructuring, which took place in August, the Daily Telegraph...
Manchester jobs lost despite company restructuring
A company restructuring of Sandcity Ltd, the boardwear subsidiary of Blacks Leisure Group plc, has failed to find a buyer for its two Manchester stores which have been forced to close with the loss of a number of jobs. KPMG has transferred the leasehold store premises in Leeds, Sheffield,...
Manchester bars saved in pre-pack administration buy-out of Regent Inns
Popular eating and drinking venues in the Manchester area belonging to Regent Inns are among company sites which have been saved in a pre-pack administration buy-out by the former management. Nationally, nine of the worst-performing sites will close with the loss of 150 jobs but nearly 2,000...
Company Voluntary Arrangement for Blacks Leisure
The specialist retailer of camping equipment and outdoor clothing, Blacks Leisure, is planning to present to its creditors a company voluntary arrangement (CVA) in an attempt to secure its survival. Blacks operates 256 Millets stores, 116 Blacks Outdoor stores and more than 50 surfwear...
Legal ruling clarifies valuation approach in company restructuring
The entire share capital of the IMO car wash group was awarded to a group of banks in a High Court ruling yesterday, which is expected to have significant ramifications for hedge funds and private equity investors. The legal ruling is an important one as most private equity deals arranged...
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