The West Australian exclusive The WA insolvency firm that has taken an unusual deviation by buying failed seafood company Catalano is backing itself to take on and run other companies pulled back from the brink. Having started out restructuring or temporarily running businesses on behalf of creditors, Avior Consulting is now calling the shots in…
ElectricBrands states that it has filed an application for insolvency under self-administration with the Darmstadt Local Court and is seeking to reorganise the company by taking this step. The court ordered provisional self-administration on 29 January 2024. The aim is to completely reorganise the company, according to a company press release. In addition, The affiliated…
TURNKEY a leading provider of software solutions to the insolvency industry, is thrilled to announce the appointment of Craig McDonnell as the Director of Personal Insolvency and Creditor Services. With approx. 90% of the Corporate Insolvency case management market in the UK, Craig joins the team, and brings with him a wealth of experience and…
Simon Edel, UK Turnaround and Restructuring Strategy Partner at EY-Parthenon: Company insolvencies in 2023 reached their highest annual total in 30 years reflecting the difficult business environment that companies have faced over the last 12 months. The final quarter of 2023 also saw the highest quarterly number ofCreditors Voluntary Liquidations (CVLs)since this data started to…
The Liverpool-based businessman behind the ailing Signature Living empire has been handed a 12-month bankruptcy order along with his wife. Lawrence and Katie Kenwright, the husband-and-wife duo behind a host of well-known hotels across the region, were declared bankrupt by the insolvency service on Tuesday. The 12-month bankruptcy orders follow a difficult few years for the…
Liverpool property developers and hotel bosses Lawrence and Katie Kenwright have been declared bankrupt. The husband and wife team behind the Signature Living brand, which opened a host of well-known hotels, apartment blocks and wedding venues in Liverpool and Merseyside, received the order at Liverpool County Court on January 30, according to the government’s individual…
Member Article R3 responds to the 2023 annual insolvency statistics There were 25,158 seasonally adjusted corporate insolvencies in 2023. This was an increase of 13.7% from 2022s figure of 22,123, an increase of 78.9% on 2021s figure of 14,059, and an increase of 46.6% on pre-pandemic figures in 2019 (17,163). There were 103,454 seasonally adjusted…
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…
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…