Member Article R3 responds to Q3 2023 insolvency statistics There were 6,208 seasonally adjusted corporate insolvencies in Q3 2023, a fall of 1.8% compared to Q2 2023s figures of 6,319 and a 10.2% increase compared to Q3 2022 (5,635). Q3 2023s figures were also 54.8% higher than Q3 2021s figure of 4,010 and 41.3% higher…
People walk past a shop with closing down signs in the window in Chester, Britain, Nov 17, 2022. REUTERS/Phil Noble/File photo LONDON The number of companies in England and Wales declared insolvent during the three months to the end of September remained close to levels seen after the 2008 financial crisis and was down only…
Friday, 3 November 2023, 9:30 amPress Release: BWA A leading insolvency firm warns that a potential second wave of business failures is on the way, with consumer-facing sectors in the firing line. BWA Insolvency managing director Bryan Williams says the continuing pressures of reduced consumer spending and slowing global economies are impacting NZ businesses, as…
An independent Western Australian building company attached to a major national construction franchise has collapsed into liquidation. On Thursday afternoon, RPH Australia Pty Ltd appointed Robert Brauer and Linda Smith of insolvency firm McGrath Nicol as voluntary liquidators. RPH Australia Pty Ltd was trading under the name GJ Gardner Perth West as it was part…
On 1st November 2023, the new Luxembourg law of 7 August 2023 on the continuation of businesses and modernisation of insolvency law (the “Law”) enters into force. This long-awaited reform implements Directive 2019/1023 to introduce a modern restructuring regime, with out-of-court and court supervised mechanisms to protect companies in distress. The Law is expected to…