Samantha Keen, UK Turnaround and Restructuring Strategy Partner at EY-Parthenon: Quarterly company insolvencies reached over 6,300 for the first time since 2009 in Q2 as many businesses struggled to contend with a sustained mix of pressures. Although company insolvencies have been steadily increasing over the last 18 months, largely driven by Creditors Voluntary Liquidations (CVLs),…
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%…
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…
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…
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…
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…
LONDON, July 28 (Reuters) – 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…
SINGAPORE The accounting industry watchdog will re-evaluate the sectors regulatory framework in a bid to keep pace with the changing business environment and maintain standards. The Accounting and Corporate Regulatory Authority (Acra) review will likely take some time, given the need to engage with key stakeholders and conduct public consultations before proposals are made to…
A leading Victorian company has collapsed owing tens of millions of dollars and leaving all of its employees without a job. Richstone Group Pty Ltd, the states largest privately-owned plumbing contractor, last month announced it was entering voluntary administration and restructuring. BRI Ferriers David Coyne and Peter Krejci were tasked with acting as joint administrators…