Swedish carrier BRA, Braathens Regional Airlines and its subsidiary Braathens Regional Airways have begun a court-approved financial restructuring process, similar to US Chapter 11, to secure the future of their ATR turboprop operations. The move follows the bankruptcy of its Airbus-operating units just a week earlier on 30 September.

The restructuring aims to cut costs, renegotiate contracts, and support BRA’s transition to operating solely as an ACMI (Aircraft, Crew, Maintenance, Insurance) provider. The airline confirmed that operations for SAS Scandinavian Airlines and Austrian Airlines will continue unaffected. 

Whilst job redundancies are expected, no decisions have been finalized. BRA also stated that there are currently no plans to scale down its fleet of 17 ATR72-600s.

Further details on the restructuring plan will be announced in the coming weeks as BRA focuses on strengthening its position in the turboprop ACMI market.

More at ch-aviation.com

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On 13 August 2025, Claire’s UK and Ireland operations entered administration, placing over 2,000 jobs and around 300 stores at risk - specifically affecting 306 stores across those regions. Following the collapse of Claire's US, for the second time in seven years, Claire's France was put into receivership earlier in August and stores in Germany, Austria and Italy are also closing. In the UK the chain is continuing to trade whilst exploring strategic options.

The popular high street brand, known for its accessories, follows its US parent’s recent bankruptcy filing, underscoring a precarious financial position. Insolvency practitioners have been appointed and plan to keep all 306 UK and Ireland stores open for now while they explore strategic options, including a possible sale of the business as a going concern. The administration has halted Claire’s online orders. The collapse reflects deep structural challenges amid rising competition, shifting consumer habits, and debt pressures.

Read more here

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Quantum, a company founded by private investors with ties to Industry 4.0, has acquired all assets of BCN3D following its bankruptcy filing in May. The acquisition, which includes BCN3D's headquarters and production facility, was formally approved through legal proceedings.

Quantum aims to ensure the long-term viability and sustainable growth of BCN3D. The new company has stated that all operations remain fully functional, and the entire BCN3D team is staying on. This move allows BCN3D to continue developing its 3D printing technology and expand its offerings for the light industrial market, ensuring its product roadmap evolves under a new, agile structure.

Full story here

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The UK’s third-largest steelworks, Speciality Steels UK (part of Sanjeev Gupta’s Liberty Steel), has been placed under government control after being declared insolvent. Nearly 1,500 jobs in Rotherham and Sheffield face an uncertain future as the High Court ordered its winding up, citing debts of hundreds of millions and just £600,000 in the bank against a £3.7m monthly wage bill. The official receiver will now oversee operations while the government covers wages and keeps the plant running as a buyer is sought.

Gupta’s team had asked the court for more time to pursue a “pre-pack administration” with financial backing from BlackRock and Fidera, aiming to buy back the business and shed much of its debt. Liberty Steel argued it was best placed to run the plant after a decade of investment and operation.

Creditors, however, pushed for liquidation under independent oversight, claiming this would safeguard UK steelmaking better than a Gupta-led rescue. The collapse stems from Liberty’s financial struggles after its main lender Greensill Capital failed, leaving the group exposed and with numerous entities already in insolvency across multiple countries.

Read more at the BBC

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