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England and Wales insolvencies increase

Slower growth, legal changes and a shift in attitudes to debt have led to a sharp rise in personal insolvencies, according to Department of Trade and Industry figures published yesterday. There were 17,562 personal insolvencies in England and Wales in the three months to September -a 46 per cent rise compared with the same quarter […]

HSBC Troubled Merchant Rhodes Furniture

Richmond, Va.-based The RoomStore, partnering with a liquidation specialist, has signed a letter of intent to acquire 51 Rhodes stores and other assets for $38.8 million. Rhodes Furniture President and CEO Steve Fishman is leaving the bankrupt chain to become the top executive at closeout retailer Big Lots. Rhodes named its veteran chief financial […]