Keep up with the latest business and accountancy news in our weekly round-up…
Casual Dining Group, owner of Bella Italia, Cafe Rouge and Las Iguanas, is to cut more than 1,900 jobs and close 91 restaurants after calling in administrators.
The government has provided an emergency loan to a Cardiff-based steel producer in the first taxpayer-funded bailout under its “Project Birch” scheme for firms struggling during the coronavirus crisis.
The head of the review into the auditing industry has called on the government to press on with an overhaul of the sector, after a Big Four firm failed to uncover fraud at Wirecard.
Overstated bonuses and “fraudulent expense claims” were discovered, and a draft report from Grant Thornton identified areas requiring “behavioural and cultural” change in the business, the dealer group said.
Partners with the KPMG’s restructuring practice have been appointed joint administrators to Intu Properties, the owner of some of the UK’s largest shopping centres, which has collapsed under the impact of its debt burden and the impact of coronavirus on shopping habits.