Nick Corbishley

As the Biggest Restaurant Chains in the UK Fall into Bankruptcy, Attention Turns to KKR & Other PE Firms that Own Them

PE firms sit on lots of cash but won’t invest it in their stripped-bare and failing restaurant chains.More

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UK House Prices in June Fall for First Time Since 2012, Mortgage Approvals Slump to Record Low Despite Reopening

Still waiting for the “Pent-up Demand.”More

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Negative-Interest Rate Champion Bank of France Now Frets About Ballooning Corporate Debt

Central-Bank Forked-Tongue Syndrome.More

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Mall Giant Intu Collapses Into Bankruptcy

A zombie well before the pandemic, the UK company had racked up huge debts to finance rapid growth in a sector that had started shrinking some time ago.More

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Barcelona’s Epic Tourism Boom Is Over, Now the Crisis Begins: My Walk to the Beach

Owner of a small cafe that specializes in fine cakes and sandwiches tells me: “We’ll be lucky if we get half the normal number in July and August.” It’s now “all about damage control.”More

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Massive Credit Losses to Hit European Banks in Q2 and into 2021, Particularly When Debt Moratoriums Are Lifted

But the ECB went into high gear to soothe the pain of the banks.More

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Latin-America’s Airlines Are Crashing, But There May Be No Bailouts. Aeromexico Denies Filing for US Bankruptcy

The AMLO government, which has refused to bail out shareholders and bondholders of large companies, could be on to something: A form of capitalism where investors, not taxpayers, carry the risks.More

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Italy Once Again on the Eurozone Worry List

A new tsunami of bad debts washes ashore while banks are still struggling with the debris from the prior tsunami of bad debts.More

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Commercial Real Estate Sellers Expecting Pre-Virus Prices “Are Smoking Dope,” Says UK Fund Manager

Capital values across all segments (retail, office, industrial) already fell by 6.1% over the three months from March to May.More

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Europe’s Fashion Industry Faces Nightmare

“People do not buy a new outfit to stay at home.” Sales at stores that have reopened languish while ecommerce is booming. McKinsey: up to a third of global fashion retailers will not survive the crisis.More

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