As reported earlier in February, BrewDog co-founder James Watt was organising external investors to acquire BrewDog in its entirety, with plans to plough around £10 million of his own funds into the deal - a bid that would have seen him reclaim the company he co-founded in 2007. However, this buyout never materialised and instead, BrewDog was sold to US cannabis and drinks company Tilray Brands for just £33 million after falling into administration - a fraction of its former £1 billion+ valuation. 

The deal saves 733 jobs but results in the closure of 38 bars and 484 redundancies. The outcome is a bitter one for the crowd of small backers: some 220,000 'Equity for Punks' shareholders who committed around £400 each are expected to receive nothing. Watt's attempted comeback, it seems, was not enough to save the brand he built.

More on this update at The Guardian

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Dutch hyperloop startup Hardt Hyperloop has been declared bankrupt, marking the end of an ambitious transport vision. The company was founded in 2017 by students from Delft University, following their win at a 2015 design competition organised by Elon Musk. 

The concept involved propelling passengers through vacuum tubes at speeds of up to 1,200 km/h. The project attracted significant backing, including support from NS railway, the city of Groningen, and a €15 million grant from the European Innovation Council, eventually funding a €10 million test track in Veendam. 

Despite receiving €12 million as recently as 2023, the company struggled to develop a viable business model, with vacuum tube construction proving far more costly than conventional transport alternatives. The Den Haag court issued the bankruptcy ruling on 4 March 2026. 

Read more at Dutch Review

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Global Counsel, the influential lobbying firm co-founded by Peter Mandelson, has collapsed into administration following a rapid and sudden exodus of some of its high profile blue-chip clients. The crisis was triggered by revelations from over three million pages of US Department of Justice files, which detailed the extent of Mandelson’s relationship with the late Jeffrey Epstein.

The files suggest Mandelson sought Epstein's advice when establishing the firm in 2010 and allegedly shared market-sensitive government information with him. Despite recent efforts to sever all ties - including Mandelson’s resignation and the divestment of his shares - major clients such as Barclays, Tesco, and KKR have terminated their contracts. 

The firm’s board concluded that the turbulence of negative attention made the business unviable. Approximately 130 staff now face redundancy as administrators from Interpath begin liquidating assets, marking a dramatic end for one of the UK’s leading public affairs consultancies.

Read more about the collapse here

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French gaming giant Nacon has officially filed for insolvency following a major financial crisis involving its parent company, Bigben Interactive. The move was triggered after Bigben’s banking pool unexpectedly refused to authorise a drawdown needed to repay a €43 million debt. This forced Nacon to seek judicial reorganisation to protect its 1,000+ employees and 16 development studios.

Nacon is currently using the court-supervised process to freeze debts and restructure. Operations remain active, and the company has expressed its intent to move forward with major 2026 releases such as GreedFall II and Styx: Blades of Greed. Trading of Nacon and Bigben shares on the Euronext Paris remains suspended as the Lille Métropole Commercial Court determines the next steps for a continuation plan.

Read more at Indy100

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On February 10, 2026, the European Commission officially approved a €390 million rescue loan for Acciaierie d’Italia (ADI), the operator of Italy’s largest steelworks in Taranto, clearing the path for its recovery. This state aid, granted under strict EU regulations, provides a critical lifeline to ensure the company’s liquidity and business continuity during its ongoing extraordinary administration.

The funding is designed to cover urgent operating costs and essential environmental maintenance, preventing a total production halt that could devastate the regional economy. As a condition of the approval, Italy must present a comprehensive restructuring or liquidation plan by August 2026. 

The intervention marks a pivotal moment in the 2026 recovery strategy, aiming to stabilize the plant’s industrial output while the government seeks a long-term private buyer to modernize the facility and secure thousands of jobs.

Read the full Press Release from the European Commission

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