Week's Popular Reads: Highlights from M Squared's CEO's Collapse and Other Notable Stories

Boohoo is considering a sale of PLT and is pivoting to become an 'online department store' under the Debenhams rebrand, according to recent reports. This move comes as the company faces a drop in revenues and profits, as detailed in its annual results.

Meanwhile, another fashion company, Belstaff, has a new owner. The British sportswear manufacturer Castore, which acquired Belstaff from Ineos on August 28, 2025, is now at the helm. Ineos, the previous owner since 2017, simultaneously took a stake in Castore's holding company as part of the deal.

In other news, the AI-powered intelligence platform, once included on Deloitte Fast 50, is now under administration. The business, which had offices in Lisbon and the US, had raised nearly $80m.

The listed retail giant, Poundland, narrowly avoided collapse, but 68 shops, two distribution sites, and its online store are still set to close. Nick Stockley has warned that Poundland may still be headed for insolvency despite a rescue deal.

Sad news came from the photonics & quantum technology business, M Squared Lasers. The Glasgow-based company, once included on Deloitte Fast 50, has entered administration after nearly two decades in business. Interpath managing directors have been appointed as administrators.

Founder Adam Minto, who paid a £2.9m settlement to Revolution Beauty, is returning to the business. Minto's return comes as M Squared Lasers and Streetbees, another company that entered administration, both face uncertain futures.

Streetbees, which was valued at $200m five years ago, has also entered administration. The listed Sheffield firm, ZOO Digital, is under scrutiny as many freelancers claim to be owed money.

In a different development, the Glasgow-based Streetbees entered administration five years after a $200m valuation. Volt founder Tom Greenwood is in critical condition following a quad bike crash on the island of Mykonos last Wednesday.

Next 15 permanently closed its Silicon Valley arm, Mach49, due to potential serious misconduct. The AI-powered intelligence platform had raised nearly $80m and had offices in Lisbon and the US.

In a positive note, Sir Jim Ratcliffe's INEOS sold 100% of fashion brand Belstaff and made a 'significant strategic investment' in Manchester unicorn Castore. Halma, a FTSE 100 constituent, acquired a 31-year-old Netherlands-based firm, Brownline, for £129m.

These developments highlight the dynamic and ever-changing landscape of the British business world. As always, stay tuned for more updates.

Week's Popular Reads: Highlights from M Squared's CEO's Collapse and Other Notable Stories