BUSINESS NEWS

A ROUND-UP OF WHAT’S BEEN HAPPENING ACROSS THE UK

Rights

GlaxoSmithKline tops gender equality index

BANKING

Barclays to close 15 high street branches

BARCLAYS is to close 15 branches across the country in April and May.

The sites scheduled to shut are Gosport, Bedale, Bridgwater (all on April 26), Heywood, Stamford, Oakham, Wymondham (all on April 28), London Fleet Street and Watton (both on May 3), Chislehurst and St Helens (both on May 4) and Radlett, Leyburn, Talbot Green and Oundle (all on May 5). The news came days after NatWest said it was closing 23 branches.

SURGE

Business insolvencies leap to 13-year high

THE number of firms that collapsed into insolvency in England and Wales last year surged to its highest total since 2009.

Insolvencies registered in 2022 leapt by 57 per cent to 22,109 from the previous year, new data from The Insolvency Service has revealed.

Experts said it was partly driven by the end of government measures to support firms during the pandemic.

ADMINISTRATION

PHARMACEUTICAL giant GlaxoSmithKline has been revealed as the top-performing FTSE 100 business for gender equality, according to a new index.

The Equity Index 2022/23 produced by Lead 5050, a crossindustry accreditation body, ranked companies using official data on average salaries, bonuses and pay at every level.

Jobs at risk as Paperchase brand sold to Tesco

PAPERCHASE’S 106 branches face potential closure after Tesco agreed to buy the high street stationery chain’s brand but not its shops or workforce.

The struggling retailer hired administrators on January 31 after it was unable to secure a rescue sale. Tesco announced a deal to buy the brand and intellectual property from the insolvency specialists. But the stores are expected to shut, with hundreds of workers likely to face redundancy.