The trustee of Safe Hands Plans has received a £17 million High Court claim from administrators of the collapsed pre-paid funerals company, The Times reported. Safe Hands slumped into insolvency last year, leaving about 46,000 people with a combined £60 million shortfall and triggering concerns in parliament and several investigations. Administrators at FRP Advisory were appointed to Safe Hands and its parent company SHP Capital Holdings, a special purpose investment vehicle, as the Financial Conduct Authority prepared to take on regulation of the pre-paid funerals market.

Lloyds Banking Group Plc has received £1.2 billion ($1.5 billion) from the owners of the Telegraph newspaper, marking an end of the bank’s involvement in a saga that’s spawned government investigations and sparked a nationwide discussion on freedom of the press, Bloomberg News reported. Lloyds received the repayment from Penultimate Investment Holdings Limited, according to an emailed statement. Penultimate Investment Holdings Limited is the Barclay family company that indirectly owns Telegraph Media Group Ltd. and the Spectator (1828) Ltd.

Robert Bull, the owner of beleaguered caravan giant RoyaleLife that is facing £725 million ($916 million) in debt, was declared bankrupt by an English court on Friday, Bloomberg News reported. It’s a stunning reversal for a man who, just seven months ago, was said to have a wealth of £1.9 billion and was the second-highest ranking new entry in The Sunday Times rich list. Judge Michael Giddins made a bankruptcy order against Bull on Friday in a hearing at County Court in Southampton, England.

Nottingham City Council became the latest major casualty of Britain’s growing crisis in local government finances after being crippled by inflation and rising demand for its services, Bloomberg News reported. The council declared effective bankruptcy by issuing a so-called section 114 notice on Wednesday after finding a £23 million hole in this year’s budget. The city in the Midlands in central England is one of the largest local authorities to succumb to a myriad of financial pressures battering councils.

A judge has dismissed a bankruptcy petition lodged by tax officials against former Liverpool and England footballer John Barnes, YahooFinance.com reported. Judge Mark Mullen was told by an official from HM Revenue and Customs (HMRC) at an Insolvency and Companies Court hearing on Wednesday that a tax debt had been paid and a settlement reached. But the judge was also told that Barnes, 60, was facing another claim, from the liquidators of a company he used to run.

The UK has paid £1.41 billion ($1.8 billion) to lenders that issued small business loans during the Covid-19 pandemic that are now suspected of being fraudulent, Bloomberg News reported. That’s a jump from the £640 million total refunded by the end of 2022, as banks that participated in the state-guaranteed emergency support programs three years ago work through a total of £77 billion in loans. The government said Tuesday that most businesses have repaid or are paying on schedule, though banks have now received £8.5 billion for loans that have defaulted.

Thousands of former Wilko staff have been paid a combined more than £42 million since losing their jobs, it has been revealed, Leicester Live reported. The Leicester-founded firm collapsed earlier this year, but parts of the business have been saved by discount rivals. The news of payments was revealed by the Government’s Insolvency Service which said it had been covering redundancy pay or statutory notice pay for former Wilko staff. The historic high street chain, which was founded in Leicester, was forced to close all its stores after falling into administration in the summer.

Bank of England Governor Andrew Bailey said getting inflation down to the central bank's 2% target will be "hard work" as most of its recent fall was due to the unwinding of the jump in energy costs last year, Reuters reported. "The rest of it has to be done by policy and monetary policy," Bailey said in an interview with website ChronicleLive published on Monday. "And policy is operating in what I call a restrictive way at the moment - it is restricting the economy.

Around a quarter of Helical Plc’s portfolio will sit empty after the loss of a lease with bankrupt WeWork Inc., Bloomberg News reported. The departure of law firm Baker McKenzie from its central London office ahead of a redevelopment will also contribute to the higher vacancy rate, the London property developer said in a statement. Helical said EPRA earnings per share fell to 1.1 pence in the first half through September, down from 4.8 pence a year earlier.“While interest from potential occupiers has been encouraging, lease negotiations are taking longer to conclude,” the company said.

The coming holiday season could be as good as it gets for strongly performing U.K. retail stocks, according to Deutsche Bank AG, Bloomberg News reported. “Christmas trading is likely to be robust, in our view, but there is a risk this represents the last hurrah of post-pandemic spending recovery,” analyst Adam Cochrane wrote in a note. U.K. retailers are headed for their best year since 2019, with an index for the sector up 24%, boosted by the return of shoppers to physical stores following the end of pandemic-era restrictions.