Two of the UK’s largest peer-to-peer platforms are “urgently” seeking access to government schemes and financing to help them keep lending, as the coronavirus pandemic increases the risk of loan defaults by individuals and small businesses, the Financial Times reported. RateSetter, one of the UK’s biggest P2P lenders with more than £800m on its loan book, has called on the Bank of England and the Treasury to allow it access to stimulus schemes that provide liquidity to banks.

Burger King, Carluccio’s and Yo! Sushi are among hundreds of businesses in the UK planning to withhold rents this week as they battle to conserve cash to survive the coronavirus outbreak, the Financial Times reported. Alasdair Murdoch, chief executive of Burger King UK, said he would skip rent payments due on the chain’s more than 500 British restaurants to free up funds to pay staff, after the government announced that those who did not pay would not forfeit their lease.

Laura Ashley Holdings said on Monday it will permanently shut 70 stores and cut hundreds of jobs as the struggling fashion retailer appointed administrators following a damaging blow to its business from the coronavirus pandemic, Reuters reported. The pandemic has compounded challenges faced by British retailers. Laura Ashley, a favourite of late Princess Diana in its 1980s heyday, has seen sales fall, store closures and weakness at its home furnishings business.

Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday, Reuters reported. Valaris has tapped debt restructuring attorneys at law firm Kirkland & Ellis LLP for advice on ways to rework its roughly $6.5 billion debt pile, and is exploring enlisting a turnaround firm that specializes in urgently addressing stressed finances to bolster its roster of advisers, the sources said.

Cath Kidston, the British modern vintage retailer known for its floral and polka dot designs, is this weekend racing to find a buyer as it tries to avoid becoming the latest high street casualty of the coronavirus pandemic, Sky News reported. Sky News has learnt that Cath Kidston, which was set up by its eponymous former boss in 1993, has drafted in advisers to undertake an urgent review of its strategic options. Insiders said on Saturday that Alvarez & Marsal (A&M) had notified prospective bidders this week that offers were required imminently for the business.

The coronavirus pandemic is ravaging the UK high street, with clothing chain Primark on Sunday becoming the latest to announce it was closing all its stores, the Financial Times reported. Associated British Foods, the family-controlled conglomerate that owns the brand, intends to close its 189 Primark stores in the UK for the foreseeable future. It has already shut 187 shops across Europe and the US. Department store John Lewis and sandwich chain Pret A Manger announced the closure of all outlets on Saturday.

Carmakers across the UK are dusting off plans drawn up to cope with Brexit to help their businesses during the wave of factory shutdowns because of coronavirus, the Financial Times reported. They are restoring emergency measures, including letting warehouses to stockpile parts, as they prepare for weeks of plant downtime while still accommodating shipments of goods from across the world.

In a related story, Bloomberg News reported that OneWeb, the satellite operator backed by SoftBank Group Corp., is mulling a possible bankruptcy filing to address a cash crunch as it grapples with high costs and stiff competition, according to people with knowledge of the preparations. The company is considering seeking court protection even as it continues to review possible out-of-court alternatives, said the people, who asked not to be named discussing private company plans. OneWeb would be among the first SoftBank-backed companies to file for bankruptcy.

Banks from Qatar, the United Arab Emirates and India risk losing millions of dollars due to their exposure to Finablr Plc, the foreign-exchange operator that’s preparing for potential insolvency, according to people with knowledge of the matter, Bloomberg News reported. Qatar National Bank, Doha Bank, National Bank of Fujairah, Commercial Bank International and Bank of Baroda are still owed about $300 million by Finablr’s parent BRS Ventures, which is owned by Bavaguthu Raghuram Shetty, some of the people said, asking not to be identified because the matter is private.

The collapse of Thomas Cook will land the UK government with a bill of more than £156m and drain the travel industry’s insurance scheme of funds just as airlines have warned that they may not survive the summer, the Financial Times reported. The National Audit Office said in a report that the Air Travel Organiser’s Licence (Atol) scheme will pay £481m to refund Thomas Cook customers, wiping out almost all of its resources.