SOS Wholesale, a large discount wholesaler, went into administration, resulting in the redundancy of approximately 100 employees.
The company, which had been trading for nearly 30 years, was unable to meet its financial obligations due to rising input costs and changing consumer spending habits.
The appointed administrators are exploring a possible sale of the business and its assets.
In Leeds, a well-known restaurant, Meatliquor, has also shut down after 11 years, with the owners stating that 'it's cheaper to close than to stay open' due to the rising cost of living.
Furthermore, homeowners are facing financial shocks as low fixed-rate mortgage deals expire, with some seeing annual bill hikes of nearly £4,000.
Rates on five-year fixes have jumped from 1.88% in 2020 to around 5% today, with major lenders increasing prices again.
2025-09-10 19:03:00
New factory activity data for China reflects persistent weakness in the world's second-largest economy, with analysts noting that manufacturing measures show 'sluggish domestic demand' and companies are under pressure to cut prices amid fierce competition.
2025-09-30 19:57:00
Sunnova, a rooftop solar firm that filed for bankruptcy, has won court permission to have its payout plan voted on by creditors.
2025-09-12 18:48:00
Cyber-attack halts Asahi production, leading to potential shortages of Super Dry beer and other products in Japan.
2025-10-04 18:27:00
Strike action planned by some staff at Bournemouth Airport, which was set to begin on Tuesday, has been suspended after the Unite union secured an improved offer from the employer.
2025-10-02 10:37:00
Medical technology firm Convatec announces £500 million UK investment but will relocate R&D jobs from North Wales to a new Manchester hub.
2025-10-01 21:52:00
Beverage giant Asahi has confirmed that its European and UK beer supply lines, including brands like Peroni and Grolsch, have not been impacted by a cyberattack limited solely to its operations within Japan.
2025-10-01 17:29:00
Energy giant BP is proceeding with a $5 billion project to tap oil in the Tiber field, a Gulf of Mexico location previously considered too hazardous to exploit.
2025-10-01 17:11:00
Government allocates 25m to Liverpool City Region and Greater Manchester for film, TV, music, and video games industries.
2025-10-01 17:00:00
Administrators announce 125 redundancies at Prax Lindsey oil refinery, leaving 255 workers amid ongoing sale efforts.
2025-10-01 13:09:00
Cannabis company stocks, including Canopy Growth and Tilray, jumped on Monday after President Trump shared a nearly three-minute-long video on his Truth Social platform promoting the use of hemp-derived CBD as a pain and stress reliever for seniors and advocating for its coverage under Medicaid.
2025-10-01 12:33:00
A Las Vegas man has pleaded guilty to federal bribery charges related to an investigation into the area's cannabis licensing process, following a high-profile case involving a former Clark County Commissioner.
2025-10-01 12:26:00
Japanese brewer Asahi, the parent company of brands like Peroni and Grolsch, has been hit by a cyberattack causing a 'system failure' that is limited to its operations within Japan, while assuring consumers that its UK beer supply remains unaffected.
2025-10-01 12:05:00
BOE's Catherine Mann indicates UK inflation persistence scenario is unfolding, signaling caution for policy.
2025-10-01 11:00:00
Supermarket giant Asda has been hit with a £130,000 fine after products, including ham and cheesecakes, were found to be sold past their use-by dates.
2025-09-30 23:26:00
Jaguar Land Rover (JLR) has confirmed it expects to restart operations in the 'coming days' after a sophisticated cyberattack earlier this month impacted its manufacturing plants across the UK, Slovakia, India, and Brazil.
2025-09-30 22:17:00
Supermarket giant Asda has been fined £130,000 for multiple failures in food safety, specifically for selling expired meat, including out-of-date ham and cheese, following inspections by environmental health officials.
2025-09-30 21:35:00
The President of the Japan International Cooperation Agency, Akihiko Tanaka, apologised after the agency announced it would scrap its 'Africa Hometown initiative' due to misinformation and an excessive burden on participating municipalities.
2025-09-30 15:07:00
Mitsubishi Estate Co plans more UK investments amid US uncertainties, diversifying from American markets.
2025-09-29 17:34:00
Britain's largest car manufacturer, Jaguar Land Rover, has secured a £1.5 billion rescue to maintain operations until Christmas following a crippling cyberattack that has halted production for nearly a month.
2025-09-28 20:28:00
Liverpool sees surge in tech startups in 2025, with £100m in investments fueling job growth.
2025-09-23 21:11:00
A roundup of today's business news, featuring Porsche's struggles, HSBC becoming the UK's most valuable company, and a new deal for Vodafone-Three.
2025-09-23 14:42:00
A collection of recent UK business news, including financial struggles for major companies, new investment deals, and warnings about AI adoption.
2025-09-22 20:03:00
A fashion retailer has announced the closure of 35 stores, including one in Stoke-on-Trent, as part of a restructuring plan following a £33.2 million loss.
2025-09-22 17:52:00
Norwich launches £10m plan to revitalize high street with pop-up shops and cultural events.
2025-09-22 17:27:00
UK retail sales fall 0.3% in November 2025, raising concerns for high street ahead of Christmas.
2025-09-21 21:27:00
Audi is marking its 60th anniversary by simplifying its model naming system and launching a new electric vehicle, the A6 Sportback e-tron.
2025-09-21 19:36:00
BoE poised to slow QT, leave rates unchanged; stocks rise post-Fed cut.
2025-09-21 18:59:00
Fed adjusts interest rates for first time in 2025, impacting economy amid inflation concerns.
2025-09-21 17:32:00
Northern Ireland's working-age economic inactivity rises to 26.5%, with more young people out of work or education.
2025-09-20 21:13:00
Failure to meet Labour’s public sector productivity targets could cost billions, forcing increased spending.
2025-09-20 19:26:00