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Blair Nimmo and Alistair McAlinden of Interpath Advisory have been appointed joint administrators of Bellhill Limited. Incorporated in 2010, the company owns and operates the Lorne Hotel, a 102-bed three-star hotel in the west end of Glasgow. The hotel also incorporates Bukharah, an award-winni

A decade of hotel expansion across Scotland is set to be reversed as many hotel businesses struggling with unsustainable debts, losses and staffing problems decide to close permanently, Derek Forsyth, head of restructuring with Azets has warned. Industry reports indicating the scale of the financial

Louise Laing, senior associate at Brodies, details the intricacies of a pre-pack administration. Pre-pack is the term used to describe an arrangement whereby the sale of all or part of a company’s business and/or assets is negotiated and agreed before an insolvency practitioner (IP) is appoint

Aberdeen Standard Investments (ASI) has invested £50m on behalf of its strategic partner Phoenix Group in Black Sea Trade and Development Bank supporting the implementation of its climate change strategy. Specifically, proceeds will be used for projects financed directly, or through finan

Ahead of the 2021 interim reporting season, a review by the Financial Reporting Council (FRC) has highlighted examples of good practice in company’s interim reporting and areas where further improvements are required.

The Entrepreneurial Scotland Foundation has appointed Sean McGrath as its new chief executive. Mr McGrath, who is currently the Foundation’s finance director, will take up the new role in July.

Law firm CMS is joining forces with Interpath Advisory to stage a free to attend seminar for Scottish hotel and leisure businesses as they reopen after the second COVID-19 lockdown. The event will include a presentation by Stephen Montgomery, spokesperson for the Scottish Hospitality Group, a body w

More UK homeowners are expected to fall into mortgage arrears this year as the economic repercussions of the COVID-19 continue to wreak havoc, according to new figures released by UK Finance. The trade association said mortgage arrears remained close to historically low levels in the first three mon

Kier Group has kick-started its proposed £241 million equity raise to help tackle its deficit. The share placing, which is fully underwritten by Numis Securities and Peel Hunt, will be the final part of its turnaround strategy.

UK Finance and the largest retail banks and building societies in the UK have made five commitments to continue to preserve access to cash for consumers and businesses over the long term. Barclays Bank, Coventry Building Society, HSBC UK, Lloyds Banking Group, Nationwide Building Society, NatWest Gr

International marine renewable energy contractor Leask Marine Ltd has achieved record growth after obtaining a £5.3 million funding package from Royal Bank of Scotland and Lombard. The Orkney-based company, which is a world-leader in the marine renewable sector, secured a complete funding pack

ILC Therapeutics, a Glasgow-based biotechnology company, has announced its latest pre-IPO funding round to advance its lead novel hybrid interferon drug candidate. The firm has also announced the appointment of Peter Bains as non-executive chairman, Richard Morgan as a non-executive director and All

Accountants need to keep up their guard when taking on new clients and make sure anti-fraud checks are rigorous enough to combat a potential increase in criminal activity driven by the global pandemic, according to a new report from the Association of Chartered Certified Accountants (ACCA) ACCA has

The COVID-19 pandemic is making it harder for people living in Scotland to achieve better opportunities in life, according to new research by PwC, which suggests government and businesses must take radical action to avoid furthering inequalities in society. As Westminster and Holyrood Governments pl

Companies are better aligning their board remuneration policy and practices with long-term shareholder interests according to new research conducted by the Financial Reporting Council (FRC) and The University of Portsmouth. This research assessed a sample of FTSE 350 companies to determine the exten