Business & Technology
UK wine merchant to close after falling into administration
Friarwood Wine and Spirits, founded in 1967, is a family-run business that has built a reputation for its close relationship with some of the world’s most prestigious vineyards and wineries in regions such as Bordeaux, Burgundy, Champagne, Loire, Rhône, and Tuscany.
The independent merchant supplied Michelin-starred restaurants, caterers, top hotels, and private members’ clubs across the UK.
Friarwood’s array of fine wines and spirits is also available on the company’s website or in its London-based store (Parsons Green, Fulham).
Friarwood Wine and Spirits to close after falling into administration
After 59 years, Friarwood Wine and Spirits is now set to close after falling into administration.
William Antony Batty and Hugh Francis Jesseman were appointed as joint administrators on July 3, according to The Gazette.
A statement on Frairwood’s website said: “It is with great sadness that we share the news that we will soon be closing our business.
“We would like to sincerely thank you for your loyalty and support over the years.
“It has been a privilege to share exceptional wines and build lasting friendships with so many loyal customers.
“As we begin this final chapter, we invite you to explore our Closing Down Sale.”
The closing-down sale is on now, with discounts of up to 60% on Friarwood products.
Other UK companies that have closed or entered administration/liquidation in 2026
It has been a tough year for the UK high street, with several other retailers entering administration or liquidation and others announcing widespread store closures.
Major high street brands LK Bennett, Claire’s, and Quiz have been forced to close all their remaining stores after falling into administration.
UK fashion retailer Leading Labels is also set to close its remaining 15 stores after falling into liquidation.
TG Jones will be closing 150 stores across the UK as part of a “restructuring” plan approved by the High Court on Wednesday (July 1).
Other retailers have been forced to close stores this year, including:
Several UK travel companies have also ceased trading or entered administration in 2026:
Luxury UK holiday company Salamander Voyages shut down back in April after entering administration.
Meanwhile, four UK airlines have fallen into administration or liquidation:
UK delivery company Yodel is set to be phased out over the coming months after being acquired by InPost.
It’s also been reported that Morrisons is looking to sell some of its in-store pharmacies as it continues to cut costs.
It hasn’t all been bad news for the UK high street, with several major brands announcing new store openings for 2026, including Aldi, M&S, and Superdrug.
Plus-size clothing brand Evans also returned to the UK high street recently after closing all its stores and concessions in December 2020.
Bodycare is also set to return to the UK high street in 2026 after closing all its stores last year, having fallen into administration.
Which company/store closure in 2026 has impacted you the most? Let us know in the comments below.
Business & Technology
Octopus customers ‘disappointed’ by rewards scheme change
Octopus Energy has scrapped its popular coffee reward.
Until now, customers could claim a free hot drink at Caffè Nero or Greggs, with codes generally released before 6am.
Instead, Octopus has introduced a weekly digital scratchcard that offers the chance to win a coffee, among other prizes.
In an email to customers, the company said: “Every Monday, you’ll get a chance to scratch and win an epic prize.
“Tens of thousands of treats, from free coffees to tasty snacks, dinner delivery discounts, chocolate bars and more will be up for grabs weekly to make Mondays a little more bearable.”
The change has sparked disappointment among some Octopus customers, many of whom took to social media to express their frustration with the decision.
One user commented: “Awful decision for the customers, another way of saving money for the company, nothing ever lasts long that is good for the customer and then they try and spin it that it is.”
Another wrote: “Very disappointed to hear we will no longer get our coffees. It stopped me from looking at other energy suppliers but as my fixed deal is coming to an end next month there is no reason not to change supplier now.”
A third added: “Absolutely rubbish. A pretty much guaranteed weekly coffee for a lot of people – to a scratchcard with a slim chance at rubbish nobody wants, and a much bigger chance of getting nothing at all.”
Octopus Energy defended the decision, saying the new system is designed to be fairer for all.
In a response to the complaints on Twitter, the company said: “We wanted to make things fairer so every Octoplus member gets an equal chance to win throughout the day, without the morning rush.”
Business & Technology
UK accountants could add GBP £463,000 from clients
Ravical has published research suggesting UK accounting firms could generate more than £463,000 in extra annual revenue from existing clients. The study focuses on small and medium-sized businesses in the UK.
The findings suggest many firms are missing sales opportunities not because clients are unwilling to spend more, but because accountants are not clearly explaining what else they can offer. Almost half of UK SMEs surveyed (47%) said they would pay up to 25% more for additional services from their current accountant.
The research puts average annual spending on accounting services across UK businesses at about £19,700. The largest concentration of clients sits in the £10,001 to £25,000 spending band, which the study identifies as the main area for incremental revenue growth.
That matters as parts of the accounting sector face weaker demand and staffing changes. Recent job cuts at Deloitte, KPMG and PwC have added to concerns about market conditions, even as firms look for ways to offset slower growth in some service lines.
Client demand
Ravical’s data points to a broad demand for a wider relationship with existing advisers. According to the company, 92% of businesses would be willing to pay more if their accounting firm offered the extra support they needed, while 94% would consider expanding the relationship with their current provider.
The issue appears to be communication and responsiveness rather than resistance to buying more. In figures published alongside the study, 38% of businesses said they would take up additional services from their accounting firm if it matched the speed and responsiveness of other providers.
That gap may be opening the door to alternatives. Seven in ten SMEs (70%) said they had acted on financial, tax, or business advice generated by an AI tool during the past year without first checking it with their accounting firm. A related version of the findings put the share at 71%.
The figures suggest businesses are not waiting for formal advice channels when they need answers quickly. Instead, some are using AI tools to fill gaps when they feel their accountant is too slow to respond or is not offering the guidance they want.
AI pressure
The study argues that automation is reshaping the balance of work in accountancy. As more compliance tasks become automated, firms may need to rely less on routine processing and more on advisory work to protect revenue and deepen client relationships.
For smaller businesses, that advisory work can extend beyond annual accounts or tax filings. The survey suggests clients increasingly want help with financial planning, tax questions, commercial decisions and broader business issues.
Joris Van Der Gucht, Co-founder and Chief Executive Officer of Ravical, said the market signals were stronger than some firms might assume.
“There’s a misconception that the market is shrinking. Our findings show 92% of businesses would be willing to pay more if their accounting firm offered the additional support they need,” said Van Der Gucht.
He said the opportunity for growth already exists within many firms’ current books of business.
“Accountants are sitting on a pool of opportunities to unlock commercial expansion, and those that strategically engage with existing clients will prevail,” Van Der Gucht said.
Growth route
The findings are likely to feed into a wider debate about how accounting firms should respond to AI and changing client expectations. For years, many practices have chased growth through client acquisition, but Ravical’s research suggests there may be more immediate gains in selling additional services to existing customers.
That route could also be less costly than winning new accounts in a competitive market. Existing clients already have an established level of trust, know the firm’s processes and may be more likely to buy adjacent services if they see clear value.
Still, the survey indicates that trust alone is not enough. If businesses are already acting on AI-generated financial or tax guidance without consulting their accountant, firms risk losing influence over decisions that once would have been more likely to come through a direct adviser relationship.
Van Der Gucht said AI should be seen as a tool that changes how firms work rather than as a simple substitute for accountants.
“Businesses aren’t necessarily looking to replace their accountant with AI, but they want more value from the one they already trust,” he said.
He added that the combination of existing client demand and workflow changes could alter how firms pursue growth.
“The fact that 94% of businesses would consider expanding their relationship shows the fastest route to growth is already on their books. With the support of AI, accounting firms can now streamline workflows and focus on delivering more tailored services to clients,” Van Der Gucht said.
Business & Technology
Fears for Didcot Post Office amid TG Jones ‘restructuring’
Owner of High Street business TG Jones, Modella Capital, which bought out the High Street branches of long-standing brand WH Smith last year, has embarked on a huge restructuring which will see up to 150 shops close.
Modella blamed ‘challenging retail conditions’ on the changes and a hearing to approve the restructuring plans in the High Court at the end of June heard the business was ‘highly distressed’.
READ MORE: Thames Water probe into swim spot human faeces ‘mystery’
Securing a rescue deal rather than going into administration, the wide-ranging restructuring includes some 120 landlords will not receive rent for up to three years, and rent will be cut on hundreds of other stores by between 15 and 75 per cent.
On top of planned store closures, the extreme measures may result in some landlords choosing to cut their losses and terminate the TG Jones lease.
Olly Glover (Image: Oxford Mail)
Olly Glover, Liberal Democrat MP for Didcot and Wantage, said if the TG Jones on Broadway in Didcot were to close, it would leave 37,000 residents of the town and others in nearby villages relying on just one Post Office branch, Georgetown.
It would also follow the controversial closure of East Hagbourne Post Office due to the resignation of the postmaster in February.
READ MORE: Oxford LTNs – fines from motorists breaks £770,000
Mr Glover said: “Not only would the post office face a significant increase in demand, but residents would also lose access to vital services such as passport applications, DVLA renewals and identity verification services, which are not available at this branch.
“I have written to Post Office Ltd outlining the impact these proposed changes would have on the community and the lack of nearby, accessible alternative services.”
Post Office has been approached for comment.
-
UK News4 weeks agoUK defence spending plan ‘well short of what’s required’ and harder choices needed, says John Healey – UK politics live | Politics
-
Student Life4 weeks agoHome Office proposes doubling of Campsfield capacity
-
Oxford News3 weeks agoJune heatwave would be ‘virtually impossible’ in 1976
-
Oxford Events3 weeks agoStage Watch: ‘I think we need much more laughter in the world’ says John Cleese
-
UK News3 weeks agoDriver killed in Bedford train crash named
-
UK News4 weeks agoUS to review benefits of having troops in Europe with ‘era of free-riding’ over – Europe live | World news
-
UK News3 weeks agoCCTV shows moments leading up to arrest in anti-Muslim attacks probe
-
Student Life4 weeks agoOxford Union holds “This House Believes the West is Right to be Suspicious of Islam” Debate
