Embattled retailer New Look has agreed a restructuring plan with creditors that will see it shut 60 British stores, resulting in the loss of up to 980 jobs.

Retailer Toys R Us UK has collapsed into administration, putting 3,200 jobs at risk, after last-ditch rescue attempts failed.

Stores in the North are likely to be casualties of Toys R Us plans to close 26 stores in Britain and the North as part of its bankruptcy restructuring in the US.

Coventry are heading towards liquidation after the owners of Ricoh Arena rejected a Company Voluntary Agreement (CVA) at a creditors’ meeting this morning.

Hotel chain Travelodge was thrown a lifeline today as landlords and creditors backed a controversial rescue deal.

One of the UK and Ireland's biggest budget hotel operators is set to walk away from 49 of its hotels and write off £700m (€892m) of its debts under a controversial rescue deal.

Portsmouth could be liquidated today after 114 years as a football club - although administrator Trevor Birch remains "cautiously optimistic" they will survive.

Charles Green and Rangers players were on a collision course last night over whether they should transfer to his new company or not.

Any Rangers player who tries to force a move away from the ‘newco’ club could face legal action, chief executive Charles Green has warned.

Rangers chairman Malcolm Murray has urged fans to unite behind the new regime after a Walter Smith-led consortium withdrew their interest in buying the club.

Ally McCoist will remain as Rangers boss following a constructive meeting with new chief executive Charles Green.

Rangers' creditors meeting began this morning amid increasing uncertainty over the future of Charles Green's new regime, with focus soon shifting to the future of manager Ally McCoist.

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Rangers’ administrators have played down claims that a deal has been reached with the UK Revenue and Customs service (HMRC) over the club’s debt.

Scottish Premier League chief executive Neil Doncaster has told Rangers not to expect any special treatment if they apply for re-entry to the top-flight as a newco.

Scottish Football Association chief executive Stewart Regan will seek to discover the full composition of the Charles Green consortium which is set to take over at Rangers.

Charles Green has outlined his vision of Rangers as a profit-making exercise able to exploit its name across the globe after succeeding in securing the club for his broad ownership group.

The Blue Knights believe they were on the verge of being named preferred bidder by administrators for a Rangers takeover before a rival bid was tabled at the 11th hour.

Rangers administrators Duff and Phelps have announced that Craig Whyte has confirmed he will transfer his majority shareholding to two parties involved in takeover talks.

Rangers’ administrators claimed Bill Miller could complete his purchase of the club by the end of the season after naming the American businessman as preferred bidder.

Rangers‘ administrators have requested an immediate expedited appeals process over the sanctions imposed on the club by the Scottish Football Association’s judicial panel last night.

Ticketus remain happy to work with Paul Murray despite the former Rangers director announcing his Blue Knights consortium were taking a step back from the race to buy the club.

Rangers have lodged legal papers signalling their intention to enter administration at lunchtime today.

Embattled retailer JJB Sports today announced plans to shut 45 stores and said another 50 were in danger of closure as it moves to shore up its finances.

Portsmouth's creditors have voted overwhelmingly in favour of a deal which should see the club exit administration.

Portsmouth will have more than two-thirds of their debts written off after a deal with creditors was thrashed out today but have been hit with a further £17m claim from the taxman.

Leeds have no more than a 30% chance of getting their 15-point penalty overturned by an independent tribunal, according to sports law specialist Richard Cramer.

The independent tribunal to consider Leeds’ 15-point penalty imposed by the Football League at the start of the season will begin next Wednesday.

Leeds have been barred from full membership of the Football Association after they were unable to prove all their non-football creditors had been paid.

Ray Fell, chairman of the Leeds United Supporters’ Club, has described the Football League’s 15-point penalty as a “recipe for relegation”.

FOOTBALL League chairman Lord Mawhinney yesterday warned that time is running out on Leeds’ chances of starting the new season in Coca-Cola League One.

The Football Association have given Leeds the all-clear to play York in a pre-season friendly at KitKat Crescent tonight.

Leeds United’s future remains dogged by uncertainty after a legal battle over the club’s ownership was put off until September.

Leeds have upped their offer to the Inland Revenue from £77,000 to £616,000 in a last-ditch attempt to avoid a legal challenge to the club being re-sold to Ken Bates.

Former Leeds chairman Gerald Krasner has branded Ken Bates’ offer to pay off the club’s creditors as “utterly derisory”

Former Leeds chairman Gerald Krasner believes the battle for control at Elland Road is only just starting.

Bryan Robson will decide whether or not to walk out on relegated Bradford City after this week’s rearranged creditors meeting.

Nottingham Forest midfielder Andy Reid, rated at £10m (€14.8m) by boss Joe Kinnear, has admitted he faces some big decisions over the summer.

Benito Carbone is set to secure his release from Bradford City tomorrow - saving the jobs of 19 other players in the process.

Irish businessman John Courtenay has bought Carlisle United fooball club and has re-instated former manager Roddy Collins.