All posts tagged: debts

UK whisky firm enters liquidation with £500k debts leaving customers uncertain | UK | News

UK whisky firm enters liquidation with £500k debts leaving customers uncertain | UK | News

A British whisky firm has collapsed into liquidation after accumulating debts running into the thousands. The Scottish company, Whisky Merchant Trading Limited, which ran brands including Cask 88 and Braeburn Whisky, was pushed into administration owing to severe financial difficulties. Stephen Hunt, of Griffins, has been appointed as liquidator. The downfall left “thousands of global customers uncertain of their asset ownership” after the Edinburgh-based firm had previously raised roughly £80 million in investment funds. Customers need not despair, however, as administrators confirmed the business was salvaged following the sale of key assets to Edinburgh Cask Management (Resolution) Limited. The new owners are currently working to reunite investors with their casks. Griffins said: “As part of this sale agreement, ECMR has committed to addressing the issues faced by customers who may have purchased casks from the companies but have not yet been located. “They will replace these casks and offer trade-out options for better stock. “Each offer will be tailored to the specific circumstances of individual customers, and ECMR will provide further details in due course. …

Dubai’s largest food company collapses into liquidation – £1.5m of debts | World | News

Dubai’s largest food company collapses into liquidation – £1.5m of debts | World | News

A major food company in Dubai is set to be placed into provisional liquidation, according to reports. IFFCO Group is said to have debts of nearly £1.5 billion and made little progress in restructuring talks amid disputes among key shareholders and the Iran war. The conflict, which began in late February, and the continued disruption in the Strait of Hormuz has put additional pressure on the company’s supply chains, it is claimed. The United Arab Emirates — where much of IFFCO’s business is based — is heavily reliant on food shipments via its ports. IFFCO is described in reports as one of the largest food companies in Dubai, if not the biggest. The company is a conglomerate and its brands span more than 20 food and personal care categories, its website says. IIFCO’s products include olive oil, biscuits, poultry, as well as animal feed. It is best known by Dubai residents as the operator of the London Dairy ice cream brand, according to the Financial Times which first reported the news of the provisional liquidation. …

Collapsed high street chain’s debts revealed as it closes store in UK | UK | News

Collapsed high street chain’s debts revealed as it closes store in UK | UK | News

A well-known UK discount chain entered administration earlier this year, and its debts have now been revealed. The Original Factory Shop faced difficulties and began to close its stores. The Factory Shop Ltd, trading as The Original Factory Shop, was established in 1969 and operates as a UK-wide discount department store chain. The retail brand went into administration in January after its owners, Modella Capital, said “last-ditch” measures to rescue the high street shop had not worked. The brand had an outlet in Lancaster Leisure Park which is now closed. It also has a store in Garstang which is set to close on March 29. It underwent restructuring amid fears over its future, with investment firm Modella Capital stepping in to save it. However, in January this year, the group said it would have to start insolvency proceedings for the business. Insider reports that details around the insolvency have now been revealed. According to an estimate included in a new report by administrators Interpath, The Original Factory Shop owed more than £30m to unsecured trade …

Should the bank of mum and dad pay university debts? | Student finance

Should the bank of mum and dad pay university debts? | Student finance

Our child is heading to university soon – should we try to pay their tuition fees upfront so they are not saddled with a debt for decades? Our child is a recent graduate and their student loan debt is ballooning – should we help pay off some or all of it? Up and down the country, these questions are being asked and argued over as families try to navigate their way through the unfolding student loans crisis. On average, young people now leave university with just over £50,000 in student loan debt. But some have seen what they owe rise dramatically: data issued this month shows that almost 180,000 now owe more than £100,000, and one graduate has a £314,000 debt. Martin Lewis, the MoneySavingExpert founder, says your child’s tuition fees are not a parent’s priority. Paying off the fees means ‘money gone that you can’t give towards a mortgage deposit later’. Photograph: Kirsty O’Connor/PA A survey of 2,000 UK parents aged 45 to 65 commissioned by Octopus Money found that some have tried to …

Ex-wife among six Londoners charged over fatal acid attack allegedly linked to drug and gambling debts

Ex-wife among six Londoners charged over fatal acid attack allegedly linked to drug and gambling debts

The ex-wife of a drug dealer who grew up in south-east London is among ten charged with his murder following a fatal acid attack in Plymouth, a court has heard. Jurors were told that the victim had built up a £120,000 ($164,000) drug debt after a junior dealer ran off without paying him and after further losses through gambling. Danny Cahalane, 38, died after sulphuric acid was thrown over him at a property in Lipson Road, Plymouth, in the early hours of February 21 last year. He died in hospital on May 3 after spending 10 weeks receiving treatment for his injuries. A mother conspired with a drug dealer to murder her ex-husband in an acid attack to get rich, a court heard… Danny Cahalane trial hears his former partner took a ‘couple of grand’ to help killers ambush him pic.twitter.com/BrPEwF1t1e — London & UK Street News (@CrimeLdn) January 24, 2026 Cited by the Enfield Independent, Jo Martin KC opened the prosecution’s case, saying Mr Cahalane was targeted because he owed a “large amount of …