Fast food chain Taco Bell may still get a new lease on life in the Netherlands. Curator Maarten Jansen is currently in talks with several potential buyers interested in taking over the bankrupt franchise operator of burritos, tacos, and quesadillas. “I hope to conclude these discussions by the end of next week,” Jansen told ANP on Friday. The ten Dutch Taco Bell locations, including in cities like Eindhoven, Rotterdam, and Utrecht, were operated by franchisee T Bello Netherlands. Two years ago, the company reported being profitable and announced plans to expand within the country.
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The solar energy firm De Groene Energie Corridor (DGEC) is reportedly facing financial ruin and escalating legal pressure after a Dutch court ordered the removal of more than 78,000 solar panels near Schiphol Airport, citing a serious risk to flight safety caused by glare. DGEC has warned that full dismantling of the park, which includes nearly 230,000 panels, would force the company into bankruptcy, while Schiphol continues to push for complete removal and has asked the government to intervene, De Telegraaf reports.
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Swiss annual inflation inched higher last month, though remained close to negative territory, suggesting the Swiss National Bank is still on course to push interest rates below zero later this year, the Wall Street Journal reported. Consumer prices were 0.2% higher in July than the same month of last year, compared with annual inflation of 0.1% in June, Switzerland’s statistics office said Monday. July’s data came after the U.S. last week slapped a shock 39% tariff on most imports of Swiss goods, a higher rate than had been signaled earlier by the Trump administration.
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Germany’s “oldest and biggest” gay dance club has declared itself bankrupt after nearly half a century in business, falling victim to inflation and an evolving party culture threatening Berlin’s nightlife, The Guardian reported. Management troubles and dating apps were among the factors putting SchwuZ on the ropes last year and in May the club shortened its opening hours, laid off staff and asked regulars for help to plug a growing shortfall, to little avail. On Thursday, the management team posted on Instagram: “SchwuZ has filed for insolvency.
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Sales of new cars in Italy fell by 5.11% year-on-year in July, transport ministry data showed on Friday, indicating a persistently weak market in the European Union's third largest economy. Total sales in July stood at 118,493 vehicles, Reuters reported. Market leader Stellantis, whose brands include Fiat, Jeep and Peugeot, suffered an even bigger sales slide of around 13% year-on-year, according to Reuters calculations.
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The bankruptcy of Groupcard, a company that provided prepaid cards such as city passes for municipalities, has affected roughly a third of all municipalities in the Netherlands, according to an estimate by the Association of Dutch Municipalities (VNG), NLTimes.nl reported. The bankruptcy, first reported by AD on Friday, was officially declared last month by the court in Amsterdam. Many municipalities had contracts with the company, and the financial damage appears to run into the millions.
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Ballooning spending on children with special educational needs and disabilities is putting England’s already stretched local councils under even more financial strain, adding urgency to Prime Minister Keir Starmer’s plans to reform the system, Bloomberg News reported. Across the country, cumulative overspends on the so-called SEND program were forecast to double to £8 billion ($10.6 billion) by 2027 from about £4 billion in March, according to a report earlier this year by the Chartered Institute of Public Finance and Accountancy.
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Five South London companies which claimed to have turnovers topping £1.6 billion have been shut down, after an investigation revealed that their accounts had been faked, The Standard reported. The Insolvency Service and Companies House obtained a High Court order on Thursday to close down Automarket Europe Limited, Integra Group Limited, Maxell Limited, Montana & Montana Limited, and Supermarket Plus Ltd.
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Millions of drivers will miss out on tens of billions in compensation after Britain’s highest court rejected claims drivers were mis-sold car loans, The Telegraph reported. The Supreme Court on Friday rejected arguments that customers should have been informed about “secret” commissions paid to car salesmen when they arranged loans to fund vehicle purchases. Judges overturned earlier rulings that had claimed payments from banks amounted to “bribes” and salesmen had a “fiduciary duty” to look out for customers.
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