Virgin Australia owed more than $6.8bn to more than 12,000 creditors, including employees, banks, aircraft financiers and landlords, when its board decided to appoint administrators last Monday.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Landlords dreading ‘government sanctioned’ mass non-payment of rent
Businesses have been given “a licence not to pay rent” after the government banned landlords from taking action against tenants who don’t pay as a result of the coronavirus.
Give every business a three-month rates holiday, demands CBI
All companies should be given a three-month business rates holiday as part of almost £16 billion of potential new aid, according to the CBI.
Over 200 disgruntled Hiscox customers combine to launch legal action against insurer
Hiscox Action Group, set up by policy holders to ensure that Hiscox Insurance honours its Business Interruption insurance, has today announced it has retained top city law firm, Mishcon de Reya, to handle its claim.
Jaguar Land Rover joins Aston Martin, Rolls Royce and Vauxhall in resuming production
Jaguar Land Rover plans to gradually resume production from 18th May, starting with manufacturing plants in Solihull in the UK as well as in Slovakia and Austria.
Ryanair boss Michael O’Leary says airline won’t fly with ‘idiotic’ social distancing rules
Ryanair planes won’t return to the skies if the airline is forced to leave the middle seat empty to comply with “idiotic” in-flight social distancing rules
More than 380,000 firms apply for government scheme to pay 2.8m furloughed staff
More than 380,000 businesses have applied for a government scheme to pay the wages of 2.8 million furloughed workers, Business Secretary Alok Sharma has revealed.
Amazon identified as mystery £250,000 donor to UK bookshops
Amazon, the internet retail giant vilified for years as public enemy No 1 to booksellers, has been revealed as the surprise mystery benefactor that donated £250,000 to help UK bookshops weather the coronavirus pandemic.
Third of British households believe they will need state support
A third of British households believe that they will need financial support from the state in the next three months as concerns grow about job security and the economy.
Taylor Wimpey and Aston Martin to restart work next month
One of Britain’s biggest housebuilding companies has announced that it will restart work on its construction sites in just over a week’s time, amid growing signs that the economy is slowly starting to reopen.
Delta rules out cash lifeline for struggling Virgin Atlantic
Sir Richard Branson’s co-investor in Virgin Atlantic has ruled out injecting cash into the struggling airline – and indicated he expects it to go into administration.
Government set to borrow £180bn to fund virus recovery package
The government will borrow £180 billion from the markets in the next three months to fight the economic collapse caused by the shutdown, providing the first official indication of the cost of the pandemic.
Admiral to give £25 car insurance refunds over coronavirus lockdown
Admiral has become the first major UK motor insurer to offer its customers partial refunds, as many drivers are stuck at home because of the Covid-19 pandemic, but industry experts say the move does not go far enough.
Boots and Matalan among firms targeted over unpaid rents
Commercial property landlords are starting to tighten the screw on retailers including Boots and Matalan for failing to pay overdue rent, in some cases starting legal action to reclaim money they are owed.
Hiscox amongst insurers braced to pay out over $350m from coronavirus claims
Hiscox told shareholders that it expected to pay out $150 million to settle claims including for the cancellation of events if the social distancing measures and travel bans that began in March last for six months.