Bed Bath & Beyond said it received a notice of default from JPMorgan and did not have enough cash to repay debts of more than $1bn to the lender, pushing the US home goods retailer a step closer to a potential bankruptcy.The company said in…

The new chief executive of Rolls-Royce has given a brutal assessment of Britain’s flagship engineering group, telling employees it must transform the way it operates or it will not survive.In a global address broadcast to staff, parts of which were shared with the Financial Times,…

An increasing number of small British businesses are holding back their growth to avoid meeting the value added tax threshold, new data show, adding pressure on the government to review its policy around the UK’s third most lucrative tax. Thousands of businesses are keeping their…

Close to 100 companies that took money from the state-backed Future Fund have gone bust, highlighting the risks of the Covid-19 support scheme designed to protect promising tech and early-stage businesses at the height of the pandemic.On Thursday, the government revealed that 83 companies that…

Blackstone is facing more than $5bn in redemption requests from a second property fund, adding to pressure on the world’s largest alternative asset manager as investors try to pull their cash. Blackstone Property Partners, a real estate vehicle for big institutions such as pension funds…

The air has leaked from Party City’s balloons, in more ways than one. Filing for bankruptcy this month, Party City cited the usual factors troubling US retailers such as higher expenses for freight and labour. But the purveyor of banners and festive paper plates has…