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Archive for November 2010

Improved Business Models, Not Foreign Players, Will Save English Football

Over the past five months, I’ve posted several blogs highlighting the need for executives and club chairmen to change their business models if they want English football to maintain solvency. It seems English Football League Chairman Greg Clarke may have been following these posts and taken some of my advice as he’s embarked on an…

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Winding Up Petitions Increase, But Are They Being Served Correctly?

Winding up petitions issued by creditors against firms based in Central London increased by 39 per cent in October 2010 compared with 10.5 percent in the rest of the country, a new study has revealed. The increase is simply a reflection of the government cutbacks and will probably continue throughout 2011. It’s also evidence that…

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Suits You Administration is a Sign of Things to Come

British clothing retailer Suits You has collapsed into administration just eight months after entering a company voluntary arrangement (CVA), which aimed to save the Leeds-based business. Administrators Zolfo Cooper said they would wind down loss-making stores, but support the chain’s successful branches and sell as much of the business and assets as possible. The firm’s…

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Is the Activroll Case Another Example of HMRC Abusing Their Powers?

It appears that a successful Scotland-based payroll company, which describes itself as one of the country’s fastest growing businesses, has become the latest victim of HMRC’s aggressive collection procedures. Last month, bosses at Activroll, which employs around 100 staff and has offices in the US and Australia, were shocked to discover a public notice in…

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Small Businesses Dependent on Public Sector Bank On Xmas Boost for Survival in 2011

An analysis of the government’s recent spending review suggests that George Osborne’s attempts to reduce the UK’s budget deficit of £155 billion will have a devastating impact on smaller suppliers dependent on public sector contracts. According to Andrew Burn of accountancy firm KPMG: ‘For smaller businesses the overall impact is likely to be negative, leading…

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