Listed below are our UK press releases, providing an overview of our activities and opinions over the last 18 months. Our most recent press releases can be found at the top of the page.
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| Railway Tile Store (UK) Limited trading as Right Price Tiles – update |
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05 February 2007 |
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Deloitte, the Administrator of Railway Tile Store (UK) Limited trading as Right Price Tiles, has announced the closure of nine stores. A total of 44 people have been made redundant which includes 38 staff at the affected branches and six staff at Head Office.
Railway Tile Store (UK) Limited was placed into Administration on 25 January. Robin Allen and Dominic Wong from Deloitte were appointed Joint Administrators.
The business continues to operate from 44 stores across England and Wales, employing around 255 staff.
Robin Allen, Joint Administrator, said: “Following our initial assessment of the... |
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| 67 Music Zone stores sold |
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05 February 2007 |
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Deloitte, the administrator of Music Zone, has announced the sale of substantially all the Music Zone stores which had been open at the time of the announcement of 25 January 2007.
67 stores, the Head Office and warehouse in Stockport and the Music Zone warehouse in Denton have been sold to an associate of music retailer Fopp Limited.
Bill Dawson, Partner at Deloitte said: “We are pleased with the disposal to Fopp, and wish them every success in the future. This represents a much better outcome for creditors and other stakeholders than a piece-meal disposal.”
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Notes... |
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| Beauty products group enters administration |
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02 February 2007 |
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Disperse Group plc, a North West-based importer and distributor of branded cosmetics and beauty products, has been placed into Administration. Debbie Young and Bill Dawson of Deloitte’s Reorganisation Services division have been appointed to act as Joint Administrators.
Disperse Group, whose headquarters are in Warrington, Cheshire, is best known for its Elizabeth French and Woods of Windsor branded products, which are supplied to department stores, grocers and discount stores across the UK. The Group also operates from retail outlets and concessions across the country.
A total of 72 people have been... |
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| A benign economy? Administrations jump by over 25% |
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01 February 2007 |
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Latest analysis of administration figures by Deloitte, the business advisory firm, has shown that UK businesses suffered in 2006 with an increase of 26% going into administration compared with 2005. Neville Kahn, reorganisation services partner at Deloitte, commented: “Many businesses have shown signs of distress over the past year. Our research shows that the worst hit were in the financial services, hospitality & leisure and recruitment and business support services sectors. The overarching theme of increased costs appears to have hit a large number of the businesses. In the financial and recruitment sectors we have seen an... |
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| Transfer spending remains buoyant, despite big clubs no show |
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01 February 2007 |
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Transfer spending by Premiership clubs over the past month was over £60m, not quite reaching the record level of January 2006 (£70m), but ahead of spending levels in each of the previous transfer windows according to analysis by Deloitte.
Dan Jones, Partner in the Sports Business Group at Deloitte, commented: “Despite the lack of recent transfer activity by some of the Premiership’s biggest clubs, player spending was still over £60m in the January transfer window. The prospect of enhanced broadcasting monies from next season has been a key driver for some clubs at both the lower end of the Premiership and amongst the Championship... |
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| External shock or domestic bliss? |
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31 January 2007 |
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In the latest issue of the Deloitte Economic Review, Economic Adviser, Roger Bootle, considers the prospects for the UK economy over the next couple of years. His main points are as follows:- The UK economy appears to have built up a reasonable head of steam in recent quarters. But at the same time, concerns have grown over the threat of a slowdown in the US economy and the impact of higher UK interest rates. What, then, should we expect for 2007?
- There certainly...
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| Railway Tile Store (UK) Limited trading as Right Price Tiles – in Administration |
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29 January 2007 |
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Robin Allen and Dominic Wong of Deloitte were appointed Administrators of Railway Tile Store (UK) Limited on 25 January 2007.
The Company is a retailer of ceramic tiles which currently trades as Right Price Tiles and was formerly Tiles R Us. The company trades from 53 leasehold stores across England and Wales, employing around 300 staff. Its turnover in the last financial year was £21m and its Head Office is in Bridgend, South Wales.
Robin Allen, principal in Deloitte’s Reorganisation Services practice said: “Right Price Tiles has a good customer base and stores in excellent locations across the country. We... |
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| 50% of population believe the UK’s status as a global power is decreasing |
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29 January 2007 |
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50% of the working population believe the UK’s status as a global power is decreasing, according to a Deloitte/YouGov survey of attitudes to global economic competition. Only 5% believed the UK’s status was increasing and 36% believed it to be ‘stable’. John Kerr, Managing Partner for Innovation at Deloitte, commented: “The global competitive outlook for the UK economy is an issue the public is becoming increasingly concerned about. This isn’t surprising considering we face rapid global change with the advancing economies of China and India and an increasingly mobile workforce is adding to... |
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| Deloitte kicks off City singing initiative |
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25 January 2007 |
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Business advisory firm Deloitte today kicked off the BBC Radio 3 ‘Singers in the City’ initiative by becoming the first of seven city firms to perform a concert with the BBC Singers (the UK's only full time professional choir) at its Strand offices in London. More than 45 Deloitte choir members from across the firm - including partners and recent graduates - participated in the concert attended by more than 100 guests from the BBC and Deloitte. Deloitte partner Ed Shedd commented: “We are delighted to be hosting the inaugural Singers in the City event and look forward to working with the BBC... |
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| Music Zone update |
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25 January 2007 |
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Deloitte, the Administrator of Music Zone, has announced that it has not been possible to find a buyer for the business in the time available and it is no longer viable to continue trading. Whilst discussions continue as regards the business, trading has ceased at this time as there is no certainty that any sale can be achieved. Music Zone was placed into administration on 3 January 2007 and Bill Dawson from Deloitte’s Reorganisation Services division was appointed Administrator. The result of the cease in trading is that 800 people will be made redundant. Ends About Deloitte |
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