Eleanor Temple, chair of the insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds Corporate insolvencies decreased by 31.8% in April 2023 to a total of 1,685 compared to Marchs total of 2,471, and decreased by 15.2% compared to April 2022s figure of 1,988. Corporate insolvencies increased by…
Tom Hill and Julius Steinert DB3 Group, the UK-based architecture, engineering and building services consultancy, has made some “significant” operational changes to the company. The changes follow a restructuring of the business to include key promotions and repositioning of business leaders. In December 2022, DB3 transitioned to an employee-owned model, and since then have been…
As a result of its failure to secure long-term investment, responsive space launch provider Virgin Orbit Holdings, Inc. along with its US subsidiaries, has filed for Chapter 11 bankruptcy protection in order to effectuate a sale of the business. The Chapter 11 filing comes after the companys sixth mission in January, in which its centrepiece…
Member Article R3 responds to the April 2023 insolvency figures Corporate insolvencies decreased by 31.8% in April 2023 to a total of 1,685 compared to Marchs total of 2,471, and decreased by 15.2% compared to April 2022s figure of 1,988. o Corporate insolvencies increased by 82.2% from April 2021s total of 925 and by 18.2%…
Financially desperate Britons are increasingly turning to gambling as a quick fix as wealth levels fall to historic lows, a study suggests. The annual LifeSearch Health, Wealth and Happiness Index compiled by the Centre for Economics and Business Research (Cebr) fell 11% over the last year to lows not seen since the height of the…
LONDON, May 16 (Reuters) – Company insolvencies in England and Wales last month were sharply lower than a year earlier after a big rise in March, although they remained higher than before the COVID-19 pandemic, government data showed on Tuesday. Some 1,685 companies were registered insolvent in April, down 15% from the same month a…
Telecoms giant Vodafone Group was the leading FTSE 100 faller on Tuesday as it announced full-year trading numbers and restructuring plans. At 84p per share Vodafone shares were trading 6.7% lower. Revenues at the business edged 0.3% higher in the 12 months to March, to 45.7bn. Organic service revenues meanwhile increased 2.2% year on year…
A senate inquiry report into a bill that would freeze $74 billion in student debt is set to be tabled in federal parliament next week. Key points: The Greens are also pushing for a rise in the minimum repayment threshold Two thirds of submissions received by the senate were from students struggling to repay debt The…
Ease of doing business for MSMEs: The number of companies in wholesale and retail trade admitted for Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016 has increased by 24.9 per cent year-on-year as of March 2023. According to the report by credit rating company CareEdge, the number of cases belonging…
The familiar silks of Marwan Koukash, the flamboyant owner famed for his passionate support of Chester races, will be absent from this weeks May meeting after he was declared bankrupt and removed as a registered owner. Koukash, 69, was once regarded as one of British racings leading forces and won 582 races from 2007 to…