Read Breakingviews latest daily column: Time Out magazine looks to replenish its bank accounts and McLaren becomes the latest company seeking to pawn the family valuables
The McLaren P1 car is pictured during the second media day of the 83rd Geneva Car Show at the Palexpo Arena in Geneva March 6, 2013.DOUBLE PARKED. Virus-prone cruise ships. Tropical Caribbean islands. Now bondholders may be adding vintage racing cars to a growing medley of niche collateral pledged by hard up companies. Auto industry aristocrat McLaren is set to follow cruise operator Carnival, and Necker Island-based Virgin boss Richard Branson in pawning the family valuables.
TIME IN. Lockdowns mean online magazine Time Out is having to fill its pages with what isn’t happening instead of what is. It cancelled its own events and shut its markets. After losing almost 70% of its value this year, the 61 million pound Oakley Capital-backed venture is restructuring its debt and on Friday launched a 49 million pound share issue.
WIGGLE ROOMS. Hoteliers Down Under may be able to sleep a little easier. If Australians take more vacations domestically through 2021 because of international travel restrictions, they could replace the lost business from overseas and then some, according to newly published calculations from analysts at Dransfield.
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