COVID-19



UK car manufacturing drops to lowest level since 1954

UK car manufacturing output has declined -42.8% in the first half of the year, marking the lowest decline in the industry since 1954.

Published 30 July 2020

Begbies Traynor: Continued financial distress puts over 500,000 UK firms in danger

A record 527,000 UK businesses were in significant financial distress at the end of June 2020 thanks to seven consecutive quarters of increased financial impairment, according to the latest Red Flag Alert research by Begbies Traynor.

Published 30 July 2020

Fraser Campbell: The known and unknown unknowns

This latest blog considers life from the perspective of SMEs and OMBs working to exit from lockdown. Much of the subject matter to date has focused on how to manage the massive uncertainties caused byCOVID-19. Hopefully, the duration and on-going impact of lockdown are beginning to clear as we move into the revival phase.

Published 30 July 2020

Dunedin Advisory: Restructuring tool for sole traders and partnerships in Scotland

In light of the difficult trading situation amid the COVID-19 pandemic, Dundee-based restructuring and insolvency specialists Dunedin Advisory details how business debt arrangement schemes can help firms through these times. Dunedin Advisory has said it may be necessary for firms to consider a formal mechanism to put a repayment plan in place. The firm's director, Jill Glen has set out some key considerations.

Published 29 July 2020

Virgin Money allocates £42m for bad loans

Virgin Money, owner of Glasgow-based Clydesdale Bank, has allocated an extra £42 million to cover potential losses from an increase in bad loans as the bank braces for the economic fallout from the coronavirus crisis.

Published 29 July 2020

Scottish retailers lost £2bn during lockdown

Retailers in Scotland lost almost £2 billion in sales during lockdown, according to the latest data from the Scottish Retail Consortium (SRC).

Published 29 July 2020

Barclays takes further financial hit from coronavirus pandemic

Barclays has taken a £1.6 billion hit from the coronavirus pandemic in the second quarter of this year.

Published 29 July 2020

Scotland's GDP fell by 2.5% in first quarter

Scotland’s GDP is confirmed to have fallen by 2.5% during the first quarter of 2020, according to statistics announced today by Scotland's chief statistician.

Published 29 July 2020

AG Barr sees revenues fall 8% amid market volatility

Cumbernauld-based drinks company AG Barr has posted a year-on-year drop in revenues as the coronavirus pandemic continues to wreak havoc on firms across the UK.

Published 28 July 2020

Bank of Scotland: Scottish business confidence remains low

Despite business confidence rising by four points during July to -37%, the overall confidence of firms in Scotland remains low, according to the latest Business Barometer from Bank of Scotland Commercial Banking.

Published 28 July 2020

Nationwide offers fresh round of community grants as financial security dops by 14%

Nationwide is launching a fresh round of community grants to help people stay in their homes through local charities and partnerships as the bank's latest quarterly poll reveals a 14% drop in financial security.

Published 28 July 2020

Starling Bank provides over £31m to Scottish businesses through CBILS loans

Challenger lender Starling Bank has provided £31 million of Coronavirus Business Interruption Loan Scheme (CBILS) funding to Scottish businesses throughout the coronavirus lockdown.

Published 27 July 2020

ABI: Pension savers press pause on withdrawals in lockdown

Pensioners have resisted the temptation to access their pension pots during lockdown, according to new data from the Association of British Insurers (ABI).

Published 27 July 2020

UK economy will not recover until 2024, warns EY Item Club

The UK economy will not get back to pre-pandemic levels for four years according to the EY Item Club.

Published 27 July 2020

£10m funding package for Scottish events sector

A funding package of £10 million has been established by the Scottish Government to help the Scottish events sector recover from the coronavirus pandemic. 

Published 27 July 2020