All posts tagged: firms

12 firms investigated over suspected repairs ‘bid-rigging’

12 firms investigated over suspected repairs ‘bid-rigging’

Twelve building companies are being investigated by the UK competition watchdog over suspected “bid-rigging” on contracts for school repairs. The Competition and Markets Authority (CMA) has named the firms at the centre of its months-long probe into the supply of construction services to academies. This is the first indication officials have given of the scale of the investigation – but the number of schools impacted, and the amount of public cash involved remain unclear. Probe expanded In December 2024, the watchdog opened an initial investigation into suspected bid-rigging in the government’s condition improvement fund (CIF), which provides repairs cash to academies in small trusts, sixth-form colleges and voluntary-aided schools. At the time the CMA said it had “reason to suspect that several companies providing roofing and construction services – including building contractors and technical advisers – illegally colluded to rig bids to secure contracts”. It had “particular concerns” over roofing deals. This came after the Department for Education identified “serious irregularities” in a number of successful CIF applications and withdrew funding for the projects. The …

4 UK travel firms plunge into liquidation or cease trading – all bookings cancelled | UK | News

4 UK travel firms plunge into liquidation or cease trading – all bookings cancelled | UK | News

4 UK travel firms have plunged into administration or ceased trading in 2026 (Image: Getty) Four travel firms have ceased trading in 2026 and cancelled all bookings. With jet fuel prices soaring following the Iran crisis and international travel hit with uncertainty thanks to travel warnings, there could yet be more companies pushed to breaking point. When holiday businesses do collapse, bookings are cancelled and holidaymakers lose their trip and their money, unless their firm was covered by ATOL protection. In January, Regen Central Ltd went into liquidation and cancelled all trips without refunds. The firm, which was founded in Hertfordshire in 2011 before moving to London, lost its ATOL protection on January 13. The Civil Aviation Authority (CAA) said Regen Central had no outstanding ATOL protect bookings, and that those sold as accommodation only, non flight or flight only bookings are not protected by ATOL. Read more: Three airlines plunge into administration or liquidation – all flights cancelled Read more: UK chocolatier plunges into administration – in business since 1986 On January 23, British …

China restricts some overseas-incorporated firms from Hong Kong IPOs

China restricts some overseas-incorporated firms from Hong Kong IPOs

Beijing is restricting certain Chinese companies incorporated overseas from seeking initial public offerings in Hong Kong, requesting them to change their domicile back to China before going public, according to China’s securities regulator. The China Securities Regulatory Commission (CSRC) said on Tuesday (Mar 17) some red-chip firms, companies that are registered abroad, but hold assets and businesses in China via equity ownership, received the guidance to unwind the structure recently. “Regulators at home and abroad have long scrutinised red-chip vehicles given their opaque shareholding structures and relatively high compliance risks,” the CSRC said in a statement responding to Reuters queries. Sources with knowledge of the matter told Reuters earlier on Tuesday that the CSRC had requested a number of IPO candidates in recent days that they should not list in Hong Kong unless they overhaul their corporate structure. It was not immediately clear how many IPO candidates have received such guidance. The CSRC said it has since December allowed five red-chip companies to complete their filings in order to list offshore. FOCUS ON RED CHIPS …