Member Article R3 responds to Q2 2023 insolvency statistics There were 6,342 seasonally adjusted corporate insolvencies in Q2 2023 a 8.9% rise compared to Q1 2023s total of 5,824. o Corporate insolvency levels for Q2 2023 were 13.1% higher than Q2 2022s figure of 5,606, 105.8% higher than Q2 2021s total of 3,082, and 44.7%…
The Insolvency Service said the total was predominantly creditors voluntary liquidations, where owners choose to dissolve their businesses (PA) (PA Archive) Insolvencies in England and Wales soared further in the second quarter of the year, reaching the highest level since 2009. In total, 6,342 companies were declared insolvent. That was up 9% from Q1, which…
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails The number of firms falling into insolvency in England and Wales surged to the highest level for 14 years in the past quarter, according to Government figures. Insolvency…
I nsolvencies in England and Wales soared further in the second quarter of the year, reaching the highest level since 2009. In total, 6,342 companies were declared insolvent. That was up 9% from Q1, which was also much higher than normal. Most insolvencies were creditors voluntary liquidations, but the biggest jump was in compulsory liquidations.…
There has been a surge in the number of people seeking breathing space from their debts while corporate insolvencies are running at levels not seen for 13 years, according to official figures. The Insolvency Service data covering England and Wales during the second quarter of the year showed 6,342 companies were registered as insolvent in…
Cineworld said on Friday that it will suspend its listing on the London Stock Exchange as part of plans to restructure its business and accounts to reduce heavy debt. The company revealed last month that it would file for administration in the UK. The worlds second-biggest cinema chain, which owns Regal in the U.S., filed…
Restructuring and insolvency partner Orla McCoy has resigned from Australian corporate firm Clayton Utz to join rival Gilbert + Tobin, just two months after another restructuring partner resigned from Clayton Utz to join White & Case. Both McCoy and Timothy Sackar have resigned but remain working at Clayton Utz before starting at their new firms.…
England and Wales saw the highest number of company insolvencies since 2009 during the second quarter of this year, government figures showed on Friday. On a seasonally adjusted basis, 6,342 companies were registered as insolvent in the three months to the end of June, 13% more than a year earlier and the highest number since…
SuperFi, a debt prevention platform, has announced a 900k pre-seed funding round to support people during the cost of living crisis. The round was led by UK seed fund Ascension and its impact fund, Fair By Design, and includes Force Over Mass, and a number of other prominent investors. Founded in 2021, the London-based fintech…
Restructuring and insolvency partner Orla McCoy has resigned from Australian corporate firm Clayton Utz to join rival Gilbert + Tobin, just two months after another restructuring partner resigned from Clayton Utz to join White & Case. Both McCoy and Timothy Sackar have resigned but remain working at Clayton Utz before starting at their new firms.…