News

The number of profit warnings by listed companies in Scotland has reached a record level in the first quarter of this year, according to the latest Profit Warning report from EY.

Insolvency practitioners across Scotland are preparing for an upsurge of insolvencies stemming from the economic impact of the coronavirus pandemic which is likely to accelerate the demise of companies that were struggling in any event. And they are warning that cash will be king in the coming reces

David Provan, managing director of Hillington-based Provan Sports, which trades as Pitch Teamwear is urging Scottish businesses needing financial support to apply for the government-backed Coronavirus Business Interruption Loan Scheme (CBILS). He has said that businesses should not be deterred

As the coronavirus lockdown continues giving many businesses restricted or no option to trade, Angela Paterson, associate director of Dunedin Advisory, specialist restructuring and insolvency advisors, highlights a potential lifeline to consider – a CVA. A CVA is a procedure governed by Insolv

UKSE, a subsidiary of Tata Steel, has appointed finance veteran Scott Webb as its area manager for Scotland. With a background in business finance, including roles at Clydesdale Bank, North Ayrshire Council and the West of Scotland Loan Fund, Scott Webb joined UKSE almost eight years ago.

MPs are to question senior bankers today over the slow roll-out and low level of emergency loans extended to businesses during the last six weeks.

British Chambers of Commerce (BCC) president, Baroness Ruby McGregor-Smith, has written an open letter to the Prime Minister setting out principles for a phased restart of the UK economy. The leading business group set out its integrated approach, the first step in a three-stage proce

The UK Government has set up a discretionary fund to help financially support certain small businesses who previously fell outside the scope of the business grant funds scheme.

Royal Bank of Scotland is supporting a new drive to help children and families across Scotland who have no books at home or any access to books during the coronavirus pandemic.  The Scottish Book Trust is working with local authorities across Scotland and other charities, in

The Royal Mint has issued a commemorative £2 coin to celebrate the 75th anniversary of VE Day.

Profits at the Royal Bank of Scotland have halved in the first quarter of this year as the bank allocated £802 million to accommodate for a rise in loan losses stemming from the coronavirus pandemic. RBS posted pre-tax profits of £519 million for the period, down from £1 billion th

Scottish businesses are facing a catastrophic decline in cashflow due to the impact of the coronavirus pandemic and are coming up against barriers in government support, according to a new survey conducted by the Scottish Chambers of Commerce (SCC).

The Financial Conduct Authority (FCA) has today announced it intends to seek legal clarity on business interruption insurance to resolve doubt for businesses who are facing uncertainty on their claims. It is also proposing a series of measures to support both consumers and businesses who hold insura

The latest research from CBI has highlighted that the UK private sector is experiencing a significant downturn as businesses and professional services experienced the sharpest fall since 2009. 

High-street fashion chains Oasis and Warehouse are to close permanently with 1,800 employees set to lose their jobs after administrators Deloitte failed to find a buyer to rescue the firm. Deloitte was appointed administrators of the retailer in April.