A car company linked to a larger tradie contracting group has collapsed into liquidation with liabilities of $1.4 million. News.com.au can reveal that earlier this month, Sydney-based Surelinc Fleet went into liquidation. Its sole purpose was to lease cars to a sister company, Surelinc Services, which does heating, ventilation, airconditioning, maintenance and fire protection jobs.…
Cost of Living9:05Why instalment loans are the riskiest bet in finance Jolene Chateauneuf was just trying to avoid getting evicted. It was 2021, and she was short $1,500 for the rent on her apartment in Princeton, B.C., where she was living at the time. So she took out a rapid loan from a payday-style lender…
Getty Images By Sam Gruet Business reporter, BBC News The number of companies that went bust last year in England and Wales hit a 30-year high, according to the latest figures. More than 25,000 company insolvencies were registered in 2023, the highest number since 1993, as firms struggled with rising costs and interest rates. Companies…
If it’s getting difficult to make your minimum payments, you may be considering debt relief. But do debt relief services hurt your credit? Getty Images If you’re struggling with credit card debt, you may feel like you’re in a trap that could last a lifetime. After all, credit cards usually come with high interest – interest…
England and Wales saw the most company insolvencies since 1993 last year, although the rate of businesses going bust was not as severe as during the 2008-09 financial crisis when adjusted for a rise in the total number of companies, official data showed. Britain’s Insolvency Service, a government agency, said 25,158 companies were declared insolvent…
More businesses entered insolvency last year than at any point since 1993, as higher interest rates weigh on UK firms, official data shows. The Insolvency Service said 25,158 companies were declared insolvent last year, up from 22,123 in 2022. But the proportion of firms going bust was not as severe as during the 2008 global…
Company insolvencies in England and Wales reached their highest level in 30 years in 2023, official figures have revealed. According to the Insolvency Service, the total number of company insolvencies last year was 25,158, which was the highest number since 1993 and 14% higher than in 2022. Construction was the most commonly affected sector, with…
The number of people needing breathing space from their debts jumped by 25% in 2023 compared with the previous year. Across England and Wales, there were 88,390 registered breathing spaces in 2023, comprised of 86,928 standard and 1,462 mental health breathing space registrations, the Insolvency Service said. A standard breathing space is available to people…
KaDeWe Group, which operates some of Germany’s most famous department stores, has filed for voluntary insolvency. Rising rents and the collapse of its co-owner Signa Holding which recently filed for insolvency have been cited as key reasons for the move. The retail group owns the eponymous Berlin-based Kaufhaus Des Westens (KaDeWe), Oberpollinger in Munich and…
Overview The pandemic has created significant financial and operating challenges for all Australian businesses. While interim government fiscal support measures, and temporary changes to the insolvency regime such as the six month suspension of insolvent trading liability for directors, have helped to calm the storm and delay mass new insolvency filings, the fiscal cliff is…