HM Revenue & Customs: Making a loss and Corporation Tax
How the wealthy avoid paying tax | Money | theguardian.com
There are lots of losses that can be offset against income or capital gains to reduce your tax bill. Any good accountant will help their clients minimise their tax bill by finding legitimate losses they can use in this way, but some of the more "aggressive" tax avoidance schemes look for ways to make artificial losses.
Mergers and acquisitions - Wikipedia, the free encyclopedia
Taxation: A profitable company can buy a loss maker to use the target's loss as their advantage by reducing their tax liability. In the United States and many other countries, rules are in place to limit the ability of profitable companies to "shop" for loss making companies, limiting the tax motive of an acquiring company.
Comet backers recoup £54m from retailer - Telegraph
It's in fact been Monarch's purpose for a long time.