Amigo Holdings PLC on Monday said it needs funding by early July to avoid insolvency as Chief Executive Officer Kerry Penfold steps down, Alliance News reported. Amigo is a Bournemouth, England-based former mid-cost credit provider now in an orderly solvent wind-down. The company said Kerry Penfold will immediately step down as CEO of the public limited company, but will remain CEO of the firm's subsidiaries until the end of May. Chief Restructuring Officer Nicholas Beal will join the board as an executive director and will take on Penfold's responsibilities alongside his existing role.

Britain’s £60bn textile industry faces a wave of insolvencies because of the Government’s new trade deal with India, an insurer has warned, The Telegraph reported. A free trade agreement unveiled last week means factories will be forced to compete with imports from Indian businesses who have cheaper labour costs and can undercut domestic UK manufacturers, trade insurance company Coface warned. Textile imports from India currently face 10pc to 20pc tariffs – meaning that British firms with tight margins will struggle to keep up once these are slashed to zero.

Australian hospital operator Healthscope Ltd., owned by a unit of Brookfield Corp., is trying to avoid company receivership by asking lenders to support a plan that will give them board control, after struggling to pay interest on an outstanding A$1.6 billion ($1 billion) loan. Under the plan, lenders have the ability to appoint their own board nominees as soon as they’re in a position to do so, Healthscope said in a Monday statement, adding that it has sent all financiers a letter detailing and committing to the transition of control.

A company with two London art galleries which marketed itself as selling works by famous artists such as Banksy, Andy Warhol and Tracey Emin has been shut down, MirageNews.com reported. Artwork Holdings Ltd traded under the banner of Yield Gallery, which described itself as an internationally established "reputable and respected" contemporary and modern art gallery with two locations in London.

A finance company which funded loans to entities associated with Patrick McKillen junior is seeking judgment of some €8.7 million against the businessman, the Commercial Court has heard, the Irish Times reported. Cabriz Finance Ltd, of Riverside Road, Carrickmacross, Co Monaghan, claims that Mr McKillen, with an address for communication at Ely Place, Dublin, provided various guarantees and indemnities for four loans to four companies.

The number of insolvencies of joint partnerships and corporations in Germany has reached its highest level in 20 years, data published on Thursday by the Halle Institute for Economic Research (IWH) showed, DPA International reported. It reported there were 1,626 insolvencies of business partnerships and corporations in April. This was 11% more than in the previous month and 21% more than a year ago. The April figures even exceeded the figures from the time of the 2008/2009 financial crisis, it said.

Sanjeev Gupta is set to call in administrators to place his main commodities trading business into insolvency, marking the final chapter for one of the controversial metals magnate’s oldest companies, the Financial Times reported. Liberty Commodities, which last month renamed itself to 3349135 Limited, on Thursday filed a “notice of intention to appoint an administrator”, according to UK court records. Liberty Commodities once claimed to trade billions of dollars in metals a year and is one of the oldest companies in Gupta’s GFG Alliance conglomerate.

Austrian prosecutors said on Friday they had placed a woman under investigation on suspicion of helping property tycoon Rene Benko hide assets from administrators and creditors dealing with his real estate group Signa's collapse, Reuters reported. Benko has been in custody for more than three months as the Central Prosecutors' Office for Economic Crimes and Corruption (WKStA) continues its investigation into whether assets that should have gone towards paying back creditors were hidden in a trust of which his immediate family are beneficiaries.

The wind industry is crucial to Europe’s ambitions to tackle climate change and enhance energy security, but three months into President Trump’s second term in office, industry executives are reassessing their approach to renewable energy, the New York Times reported. An important question is whether the president’s initial flurry of actions, as well as worries about what may come, will derail what looked like the beginning of an industry recovery.

A group representing General Motors, Ford and Stellantis blasted President Donald Trump's trade deal announced with the United Kingdom, saying it would harm the U.S. auto sector, Reuters reported. British carmakers will be given a quota of 100,000 cars a year that can be sent to the United States at a 10% tariff rate, almost the total Britain exported last year, compared to 25% for Mexico and Canada and nearly all other countries. "Under this deal, it will now be cheaper to import a UK vehicle with very little U.S.