Who are the frontrunners in the race to save Wilko? August 30, 2023 Why did Wilko go bust? A cocktail of dwindling demand for physical stores and competition in the discount market appeared to tip Wilko into administration. Even when a squeeze on public finances forced shoppers back to the high street in search of cheaper goods, they seemed to favour rivals B&M and Poundland when nabbing a [...]
Encourage investment and tackle skills shortages in Spring Budget, businesses say February 26, 2024 Chancellor Jeremy Hunt is unlikely to have significant scope for major tax cuts given the constrained fiscal position, but businesses are hoping Hunt will announce further measures to boost the economy.
Poundland owner Pepco snaps up 71 Wilko sites after its collapse September 12, 2023 Poundland owners, Pepco, will acquire 71 Wilko sites to be transformed into Poundland chains. Yesterday, it was confirmed that all Wilko stores would vanish after a deal with HMV owner Doug Putman fell through due to over concerns about the costs of the retailer’s infrastructure. Rival discounter store chain B&M also bought 51 Wilko stores [...]
Wilko: Second last-minute bid launched to save stricken retailer August 28, 2023 A second last-minute bid worth £90 million has been made by restructuring specialist M2 Capita, according to reports, which could keep the entire Wilko chain trading.
PwC partners take 10 per cent cut as profits suffer December 17, 2020 Partners at PwC have suffered a 10 per cent cut to their earnings as the impact of the coronavirus hit the Big Four firm’s profits. Profits at the audit giant fell by 8 per cent to £938m in the firm’s latest financial year, as Covid-19 impacted on the business from March, with distributable profit per [...]
Private funds expect incoming ESG regulations to boost sector – but UK will trail US and EU May 30, 2023 Private investment firms in the UK think incoming ESG regulations will boost sector but funds worry divergence from global norms could harm progress. According to research from PwC, 59.1 per cent of Limited Partners (LPs) and 58.0 per cent of General Partners (GPs) surveyed believed incoming regulations in the UK targeting ESG would have a [...]
UK entertainment and media market tops European charts with £100bn revenue hit June 27, 2023 The UK’s entertainment and media market is expected to hit revenues of £100bn by 2027, according to PwC’s latest forecast. The accounting firm’s Global Entertainment & Media (E&M) Outlook 2023-2027 also expects the UK to cling onto its top position in Europe as the leading E&M market over the next four years. In 2023 the [...]
KPMG slashes bonuses again as dealmaking fees dry up November 10, 2023 KPMG has slashed bonuses for its UK deals team again in the latest sign of the strains facing the firm after a drop off in fees this year, City A.M. has learned.
Bah humbug! PwC staff to work an extra day this Christmas November 30, 2020 Staff at big four auditor PwC will have to work an extra day this Christmas in light of challenges brought about by the coronavirus pandemic. PwC staff are usually offered an extra day off at Christmas time, but this year the giant told staff it would not be able to offer such a perk. The [...]
UK M&A deals sink in 2023 as private equity surges February 7, 2024 UK Mergers and Acquisitions (M&A) fell sharply last year, declining by 17 per cent compared to a global decline of just six per cent. In total, the UK saw 3,628 M&A deals across 2023, compared to 4,362 the previous year, though this was still around pre-pandemic levels, data from PwC has revealed. In the second [...]