UK Business News

Allied Carpets will make 850 people redundant  as administrators have failed to find a buyer for 142 of the companies shops, which will now be closed down.
Allied Carpets went into administration a month ago when the management team immediately formed a new company to cherry pick the profitable parts of the business from the administrator [...]

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Over 5,000 companies in England and Wales have gone into liquidation during the second quarter of 2009 according to official figures released today.
The number of companies going into liquidation has grown by a massive 39.1% over  the same period in 2008, while the number of unemployed rose by 281,000 in the second quarter, the biggest [...]

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It looks as though the longest running retail SALE has finally come to and end as Allied Carpets went into administration today. The UKs second largest flooring retailer appointed business restructuring firm BDO Stoy Hayward as administrator.
Fifty one of the groups 217 stores were immediately sold back to Allied Carpets Retail Ltd, a new company [...]

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The UK High Street greetings card company, Clinton Cards, who put it’s loss making subsidiary Birthdays into administration last month, are in talks with the administrators to buy back the profitable part of the business.
The Birthdays stores were purchased by Clinton Cards in December 2004 for £46.4million. The chain of 332 outlets failed to give [...]

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UK van manufacturer LDV went into administration today after parent company GAZ failed to secure a rescue package, leaving the 850 workforce at it’s Birmingham plant without jobs.
Russian owned GAZ were forced to suspend production at the LDV plant in December, citing funding problems. Talks with Malaysian company Weststar broke down last week after it [...]

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