The number of company insolvencies has risen by 51% in a month to reach a four-year high as companies battled rising costs and interest rates, according to the latest government figures. The figures show that there were 2,552 corporate insolvencies in England and Wales in May. The figure was also 40% higher than in May last…
Daily News View All News 16 June 2023 Go2 People Ltd. (GO2:ASX), the Australia-based provider of vertically integrated recruitment and training services, announced that its administrators have confirmed that the Deeds of Company Arrangement were completed with control passing to IntoWork effective from 15 June, with the exception of Go2 Recruitment. In May, the group announced…
From 10h ago Sir Ed Davey, leader of the Liberal Democrats, is calling for a 3bn emergency mortgage protection fund to protect people who would otherwise be repossessed. Speaking on Radio 4s Today programme, Davey says the government should provide the kind of help that was available after the last financial crisis. Davey explains: Weve…
Company insolvencies in England and Wales jumped by 40% in May to the highest level since monthly records began in 2019. Government data from the Insolvency Service showed 2,552 companies entered insolvency during the month. It said the overwhelming majority of these were creditors voluntary liquidations (CVLs), where bosses agree to wind up the firm…
Business insolvencies shot up by 40 per cent year-on-year in May, as macroeconomic pressures mount up. 2,552 businesses collapsed in May, according to the Office for National Statistics (ONS) data, which was higher than levels seen while Covid support measures were in place, and also higher than pre-pandemic numbers. Read more: Acquisition top cause of…
The conviction last year of former world number-one tennis player Boris Becker, for hiding millions of pounds of assets and loans in an attempt to evade tax liabilities, was a much-needed shot in the arm for the insolvency industry. Coming at a time when several high-profile prosecutions had ended in well-publicized failure for the UK…
FTSE 100 follows US and Asia higher, up 28 points Tesco sees signs of easing inflationary pressures Mortgage rates continue to rise, heading towards 6% 12.40pm: Intel to invest 4.2bn in Polish plant Computer chip manufacturer Intel Corp announced plans on Friday to build a large factory in Poland to assemble and test microprocessors. Intel Chief…
Northern Ireland sees second biggest increase in liquidations after Scotland, led by Mid and East Antrim Only one business declared voluntary liquidation in the council area back in 2019 and none in 2020 when Covid-19 support measures were in place. But business insolvencies in Mid and East Antrim rose to 16 in 2021 and then…
LONDON, June 16 (Reuters) – Company insolvencies in England and Wales last month jumped 40% year on year to the highest level since monthly records began in January 2019, government data showed on Friday. About 2,552 companies were declared insolvent in May – overwhelmingly through creditors’ voluntary liquidations, in which a company’s directors agree to…
Ensos CEO believes this move is essential for the companys long-term survivability. Credit: I99pema/commons.wikimedia.org. Finnish company Stora Enso is planning to implement company-wide restructuring actions to improve its profitability and competitiveness in the long term. The company intends to swap its focus on capital allocation in the strategic growth markets with an increased focus on…