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British Steel rescue deal to ‘preserve thousands of jobs’

British Steel rescue deal to ‘preserve thousands of jobs’

Business
British Steel has been saved in a rescue deal by a Chinese industrial giant safeguarding up to 4,000 jobs, it has been confirmed.The sale to the Jingye Group will go through "as soon as reasonably practicable", said the Official Receiver, which has been handling the insolvency of Britain's second-biggest steel producer. The Chinese firm said it plans to invest £1.2bn in British Steel over the next decade and would "preserve thousands of jobs". Image: The business will continue to trade as normal between exchange and completion The completion of the sale depends on a number of issues, including gaining the necessary regulatory approvals.The business will continue to trade as normal during the period between exchange and completion.
Mothercare UK administration plan threatens 2,500 jobs

Mothercare UK administration plan threatens 2,500 jobs

Business
Baby goods retailer Mothercare has said it plans to call in administrators to the troubled firm's UK business, putting 2,500 jobs at risk.Mothercare said its 79 UK stores were "not capable of returning to a level of structural profitability and returns that are sustainable for the group"."Furthermore, the company is unable to continue to satisfy the ongoing cash needs of Mothercare UK," it added.It said stores would continue to trade as normal for the time being.Also affected is Mothercare Business Services Limited (MBS), which provides certain services to Mothercare UK.'Necessary step'Mothercare has already gone through a company voluntary arrangement (CVA), which allowed it to shut 55 shops."These notices of intent to appoint administrators in respect o...
‘Actors are allowed normal jobs too’

‘Actors are allowed normal jobs too’

Entertainment
Soap actors have been speaking out in support of ex-EastEnders star Katie Jarvis, who made the news this weekend for having taken a job in a shop.The Daily Star's front page revealed the actress, who played Hayley Slater, was now working as a security guard at a B&M store in Romford.The story prompted an outpouring of empathy on social media, as many noted the uncertain nature of the acting profession."So much love and respect for Katie Jarvis," tweeted Gillian Taylforth, who plays Kathy Beale in the long-running BBC soap. "Hard work being a jobbing actor. Actors are allowed 'normal' jobs too, you know."Jarvis, who has two children, first made her name starring as Mia Williams in the 2009 British drama film Fish Tank, before ...
Thomas Cook buyers pledge to save 555 shops and 2,500 jobs

Thomas Cook buyers pledge to save 555 shops and 2,500 jobs

Business
All 555 Thomas Cook shops are to be bought by rival Hays Travel in a move that could save up to 2,500 jobs.The independent travel agent said the move gives it shops in areas where it had little or no presence, including Scotland and Wales.John Hays, who set up the Sunderland-based firm 40 years ago, said he hoped the shops would reopen within days.It had been an emotional day, he said, with many staff crying when they were told their jobs were saved.He said it was difficult to give cast-iron guarantees about every Thomas Cook shop, because there would now be talks with individual landlords. However, "it is certainly our intention to take on all the staff; to welcome them back," he added. The shops will be branded under the Hays n...
Up to 2,500 jobs saved as Thomas Cook UK shops sold

Up to 2,500 jobs saved as Thomas Cook UK shops sold

Business
Hays Travel has agreed a deal to buy all 555 Thomas Cook stores in the UK, saying its expansion could lead to 2,500 jobs being saved.Hays, the country's largest independent travel agent, told Sky News it had already taken on 494 ex-Thomas Cook employees and job offers were pending for many more. There were 9,000 staff in the UK who lost out when the company collapsed last month - prompting the country's biggest peacetime repatriation exercise to recover more than 150,000 holidaymakers stranded abroad. ...