Sports Direct ends two-month wait for new auditor, appointing RSM October 23, 2019 Sports Direct has appointed an auditor two months after Grant Thornton quit as billionaire Mike Ashley’s company’s accountant. Read more: Sports Direct launches ‘skulduggery’ screed against Goals Soccer Centres RSM will now take up the post. The auditor had most recently stepped in to look after Patisserie Valerie’s accounts after the bakery chain became embroiled [...]
Bank of England leaves rates at record low despite expecting persistent inflation spike November 4, 2021 The Bank of England today decided to scupper a flurry of bets on interest rate hikes and leave them unchanged at a record low. Despite mounting speculation from financial markets, economists and experts, the Old Lady left interest rates at 0.1 per cent and will see through the final leg of its QE programme. The [...]
Bonmarche hires administrators in further blow to UK high street December 2, 2020 Budget fashion retailer Bonmarche has fallen into administration for the second time, putting 1,500 jobs at risk, in a further blow for the UK high street after days of grim announcements. RSM Restructuring Advisory has been appointed as administrator to BM Retail Limited, which operates the Bonmarche brand from 225 stores in the UK. No [...]
Exclusive: Questions over Chilango’s future after burrito chain calls in restructuring firm RSM November 14, 2019 Mexican chain Chilango, best known for its “Burrito Bonds”, is in talks to secure its long-term future with restructuring firm RSM and is more than six weeks late posting its accounts. City A.M. understands from a source familiar with the discussions that the firm is considering all options including administration or a company voluntary arrangement [...]
City Moves for 18 October – Who’s switching jobs at RSM, Black Isle and Octopus? October 18, 2019 Today’s City Moves includes RSM, Black Isle and Octopus RSM Leading audit, tax and consulting firm RSM has appointed Neil Griggs as an audit partner in its financial services team. Neil joins RSM from BDO, prior to which he worked at both Big Four and boutique firms. He has 20 years of financial dervices experience [...]
End of Euro 2020 dampens retail sales in July August 20, 2021 UK retail sales fell sharply over the last month driven by the end of the Euro 2020 football tournament in July stemming Brits’ spending on food and drink, according to official figures released today. Data from the Office for National Statistics shows retail sales volumes dropped 2.5 per cent between June and July of this [...]
Hospitality sales drop by 26 per cent in May despite indoor reopening June 11, 2021 Pubs, bars and restaurants across the UK saw sales slide more than a quarter below pre-pandemic levels last month despite the reopening of thousands of venues, according to new figures. The latest Coffer CGA business tracker revealed that hospitality operators reported a 26 per cent decline for May against the same month in 2019. Trading [...]
Exclusive: Bust burrito chain Chilango sold out of administration August 27, 2020 Burrito chain Chilango has today been sold out of administration after the Covid-19 pandemic finished off the already struggling business, City A.M. can reveal. The Mexican-themed fast-food chain told investors today that administrators RSM had secured a buyer for the business. RSM confirmed this afternoon the the chain had been sold to Investment group RD [...]
Britain’s economic adjustment only ends in one way October 7, 2021 The ails of the nation’s favourite sausage roll maker are a microcosm of the problems afflicting the UK economy. In a trading update yesterday, high street baker Greggs warned it is suffering from a “supply of ingredients.” A couple months back, it pulled its iconic chicken bite for similar reasons. Severe shortages plaguing the British [...]
UK unemployment rate shrinks faster than expected to 4.7 per cent August 17, 2021 The UK jobless rate shrank faster than expected over the last quarter as employers hired workers rapidly to cope with soaring demand triggered by the lifting of Covid restrictions, according to official figures published today. Latest data from the Office for National Statistics shows the unemployment rate dipped 0.2 per cent over the last quarter [...]