In the news this morning, the collapse of Toys R Us and Maplin is widely covered. The Times reports that creditors ranging from landlords to suppliers are nursing potential losses of more than £1bn after the two retailers fell into administration.
And the gloomy high street news doesn’t end there. Prezzo is reported to be looking to close up to a third of its 300 sites as part of a CVA, and clothing chain New Look has sought consent from bondholders ahead of a possible restructuring that would involve closing scores of its 600 stores, according to documents seen by the FT.
NEWS ROUND-UP: London construction starts flatline
Creditors on hook for £1bn losses as Maplin and Toys R Us collapse
Foxtons’ profits slump amid property market slowdown
Revenue rise gives Taylor Wimpey firm foundation
Prezzo may close up to 100 restaurants in CVA
Whitbread agrees deal for 19 German hotels
Investors back Tesco’s £4bn deal to merge with Booker
