U.K. retailers are facing a wave of bankruptcy filings. On Monday, Ireland's Waterford Wedgwood plc, the 250-year-old crystal and china maker, filed for bankruptcy protection. Talks with an unidentified U.S. private equity investor broke down when creditors refused to offer any concessions.
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British retail group Mosaic Fashions Ltd., a portfolio company of Icelandic investor Baugur hf, will enter talks with Kaupthing Bank hf over a reported £400 million ($582.2 million) loan.
And in the latest sign that tough times are hitting lesser-known names as well as big brands, Deloitte was appointed administrator to Manchester, England-based retailer Passion for Perfume Ltd., which has 45 stores. - Barbara Rudolph
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You might also want to check out www.Bankruptcy-filing-guide.com for more information about how to properly go about filing for bankruptcy.
-Mark