Day: September 16, 2020

Should I refinance my business loan?

Having worked in the SME space for the past couple of decades, I have noticed a certain pattern that is not all that surprising. The more experience a person has in business, the better business loan they are likely to get.

In general, this is not because banks or lenders are more confident in their ability to succeed, but because experienced business owners know what to look for.

The simple reality is that, until you have run a business, you don’t really know what running a business takes. You underestimate expenses, overestimate profits, and rely on the wrong people to give you accurate information.

Many SMEs run by first-time business owners end up with expensive loans that don’t even cover everything they need. Often, they have listened to their banker without negotiating or even knowing the right questions to ask. I’ve been there before, and it is nothing to be

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Victoria’s Secret secures Next chapter in deal saving 500 hundred jobs

Next has agreed a deal that will resurrect Victoria’s Secret UK and save 500 jobs.

The fashion-to-homeware retailer is to take a majority 51% stake in a joint venture with US-owned Victoria’s Secret after the lingerie firm’s UK arm was placed in administration in June following weak coronavirus lockdown trading that forced all non-essential stores to shut.

L Brands, the company behind Victoria’s Secret, agreed the deal following a bid process led by administrators which attracted interest from dozens of parties including M&S.

It was revealed back in July that Next had been granted a period of exclusivity to secure an agreement – complicated by the fact that cuts to rent bills also had to be secured from Victoria’s Secret landlords.

It had 25 leasehold stores at the time of its collapse and employed 800 people.

Victoria secret

Under the deal, which is subject to regulatory approval, Next gets the majority of

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Justice Department launches probe into Nikola

The Department of Justice has launched an investigation into electric car maker Nikola on allegations for misleading investors.

The Wall Street Journal’s Ben Foldy reported:

The Justice Department has joined U.S. securities regulators in examining allegations that electric-truck startup Nikola Corp. NKLA -8.27% misled investors by making exaggerated claims about its technology, according to people familiar with the matter.

The Justice Department’s inquiry is being handled by the Manhattan U.S. attorney’s office, working in concert with the Securities and Exchange Commission, which has initiated its own examination of the claims about Nikola, the people said.

Breana Noble from the Detroit News wrote:

The claims that Nikola CEO Trevor Milton overstated the company’s capabilities on numerous occasions has led the Phoenix-based startup that went public in June to lose the 40% stock gains earned after announcing a 10-year alliance with GM.

The accusations do not involve GM, but the

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