Show Notes
A 217-year-old British pottery just fired its last kiln, and the waterfall tells a familiar story: secured lenders absorb the hit, trade creditors get wiped, and a discount retailer circles the brand. Phoebe Appenteng and Katie McMahon work through the collapse of Denby Pottery in the latest Credit Lens: Europe & Beyond, with Katie dialing in from Dubai and Abu Dhabi after the announced US-brokered pause in the Iran conflict. They open on Denby's slow decline and Valco Capital Partners' double exposure as sponsor and secured creditor (02:05), before turning to what energy costs and a £45 million-to-£18 million revenue collapse really did to the margin story (07:59). Katie then takes the conversation to the Gulf, where Dubai real estate sukuk have bounced back and off-plan deposits are the number investors are now watching (15:17). The pair land on IFFCO, the $2 billion food and beverage restructuring led by HSBC across the Isle of Man and Singapore (18:30). A grounded read on consumer credit decline at home and a market in the Gulf holding its breath until September.----more----Hosted by Phoebe Appenteng and Katie McMahon.Produced by Charlie Hall.Edited by Fawaz Muhammed.A Production of The Octus Podcast Network
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