Keep up with the latest business and accountancy news in our weekly round-up…

 

Coronavirus: Cafe Rouge and Bella Italia owner cuts 1,900 jobs

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. 

Celsa Steel gets UK’s first Covid-19 corporate bailout

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. 

Head of audit review calls for urgent reform after Wirecard scandal

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. 

Lookers uncovers £19m shortfall in fraud investigation

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. 

KPMG called in a shopping centre giant faces financial collapse

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.

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