#financial-losses

#financial-losses

Zipcar has said it is to close its UK operations by the end of the year. The US-based company, which is owned by car rental giant Avis Budget, told customers it would temporarily suspend new bookings after 31 December, pending the outcome of a consultation with its 71 staff members. In an email to members, UK boss James Taylor said the firm had launched a formal consultation with employees and bookings due to finish by the end of the month were being honoured.

President Donald Trump's social network, Truth Social, is on life support. Shares of the company that runs it, Trump Media and Technology Group (TMTG), hit a record low this week. Despite an initial surge of enthusiasm after its launch, the company has incurred massive losses, with the company showing increasingly blaring warning signs since Trump took office again in January.

With the company posting four straight years of losses (a cumulative $245 million), it's clear why it needed to raise cash, she writes in her Substack.

The first is really interesting after the recent end of their EF Pro Cycling partnership, signaling that not only is Rapha staying in the professional and elite cycling sphere, but is branching out a lot to cover more disciplines, including paracycling. A big driver of that deal is the goal of helping USA Cycling athletes haul in a record number of medals when the Summer Olympics return to the states in Los Angeles in 2028.

We have made this decision to give clarity for the coming week as we build the timeline for the phased restart of our operations and continue our investigation. Our teams continue to work around the clock alongside cybersecurity specialists, the NCSC, and law enforcement to ensure we restart in a safe and secure manner. Our focus remains on supporting our customers, suppliers, colleagues, and our retailers, who remain open.

The last thing any public company wants to see is that it has a "going concern" warning, which acknowledges it may have little time to survive. The term means a company may need to restructure or liquidate part of its business. Electric vehicle (EV) company Polestar Automotive Holding UK PLC ( NASDAQ: PSNY) disclosed the problem yesterday. The announcement caused a collapse in the EV firm's shares.

Wentworth's remark about locking up items hurting sales sparked widespread criticism, demonstrating that even a veteran CEO might overlook fundamental retail dynamics.

The company had already paused its highly anticipated IPO in the US last month, which once valued it at over $15 billion.