The administrators for Greensill Capital are still owed around $587.2m (£472m) from Sanjeev Gupta’s GFG Alliance, it has been revealed, CityAM.com reported. Grant Thornton, the administrators for Greensill, published a report on Sunday, where it outlined how the firm is still in ongoing discussions with a number of debtors, including GFG Alliance, regarding outstanding balances owed.

The owner of Britain’s Royal Mail said it rejected a £3.1 billion ($3.9 billion) bid from Czech entrepreneur Daniel Kretinsky because it “significantly undervalues” the company, Bloomberg News reported. International Distributions Services Plc said it turned down the cash offer, worth 320 pence a share, on April 11. The shares surged 28% on Wednesday, closing at 276 pence — still well below the offer price. “The board believes the timing of the proposal is opportunistic,” IDS said in a statement.

Thames Water Utilities Ltd.’s board members are set for last-ditch talks to update their business plan this week after shareholders branded the previous one “uninvestible,” Bloomberg News reported. Directors of the heavily indebted utility are set to meet Thursday, with the plan expected to be released Friday, according to a person familiar with the plans who asked not to be identified discussing private matters. Thames supplies a quarter of the water and sewage services to England, including London.

Superdry Plc plans to quit the London Stock Exchange as the troubled fashion retailer pushes through a radical restructuring to stay afloat, Bloomberg News reported. The British clothing chain, which soared to popularity in the 2000s for its bold lettered tops, said delisting from the stock market, raising more funds and implementing a program to cut some UK store rents and payments owed to local authorities will help it revive the core business. Shares of Superdry fell as much as 35% in early trading in London before paring back slightly. The stock is down about 94% in the past year.

Unemployment ticked higher and wage growth slowed in the U.K. in the three months to February, adding to key signs that inflation is easing and making interest-rate cuts likelier in the coming months, the Wall Street Journal reported. The unemployment rate stood at 4.2% over the period, still relatively low by historical standards but higher than it has been since the three months to August last year, according to Office for National Statistics figures set out Tuesday.

The Bank of England said on Friday that it would overhaul the way it forecast its outlook for the British economy as part of a “once-in-a-generation” review of its process after it was criticized for underestimating inflation, the New York Times reported. After a few turbulent years — which included a pandemic, the war in Ukraine and a surge in inflation — the central bank was accused of bungling its economic forecasts.

A group of creditors of Thames Water’s operating company have picked advisers for potential restructuring talks, Bloomberg News reported. The investors chose Jefferies Financial Group Inc. as a financial adviser and Akin Gump Strauss Hauer & Feld LLP for legal representation, said people familiar with the matter, who spoke to Bloomberg on the condition of anonymity. The creditors own private and public bonds from Thames Water Utilities Ltd. The moves comes as parent company Kemble Water Finance Ltd.

About 15 Ted Baker stores in the UK will be shut down, including shops in London Bridge and Milton Keynes, leading to nearly 250 job losses, joint administrators of the collapsed British fashion retailer said on Monday, Reuters reported. Ted Baker, a popular brand name in the UK, fell into administration last month, after more than a year of being sold to U.S.-based Authentic Brands Group. Authentic Brands is looking for a new operating partner for the retail and e-commerce business in the UK and across Europe.

The mortgage crisis will wipe out the savings of 1.2 million U.K. families this year and push many into insolvency, economists have warned, the Telegraph reported. Households having to remortgage face their bills rising by nearly 50pc, according to the National Institute of Economic and Social Research (NIESR). This will push the total number of families with no savings to 7.8 million, equivalent to 28pc of all households. The warning comes after the Bank of England on Thursday took analysts by surprise when it raised its base rate by 0.5 percentage points to 5pc.

The holding company of Thames Water Ltd. defaulted on some of its debt after failing to make an interest payment, in the latest sign of the deepening crisis at the UK’s largest water utility, Bloomberg News reported. Kemble Water Finance Limited has sent a formal notice of default to the holders of its £400 million ($505 million) bonds due May 2026 as it didn’t pay interest due Tuesday, according to a statement. The parent company now needs to start talks with creditors to avoid a messy restructuring that could wipe out Thames Water shareholders.