Getty Images By Simon Jack Business editor The number of companies going bust this year is on track to be the highest since the depths of the financial crisis in 2009. Insolvencies rose 10% from a year ago in the three months to the end of September, the latest official figures for England and Wales…
A fall in the number of start-up businesses in the East Midlands, as well as a rise in insolvency activity, indicates a significant economic challenge for local entrepreneurs entering the final quarter of 2023. This is according to the Midlands branch of national insolvency and restructuring trade body R3 and is based on an analysis…
A residential building company has collapsed into liquidation just a few months after landing in court over nearly $1 million in unpaid debts. News.com.au can reveal that the Victorian Supreme Court ordered Melbourne-based Como Homes Pty Ltd to wind up on Tuesday. Honourable Associate Justice Gobbo ordered that Como Homes Pty Ltd be wound up…
FTX Founder Testifies , About Alameda Research , Concerns Prior to Collapse. ABC reports that Sam Bankman-Fried testified that he expressed concerns Alameda Research could become insolvent four months before FTX declared bankruptcy. . ABC reports that Sam Bankman-Fried testified that he expressed concerns Alameda Research could become insolvent four months before FTX declared bankruptcy.…
A canning line at Deep Creek brewery in Auckland a few years ago, when the company was focused on expanding the brewery with its beers headed for national distribution in Australia. Another homegrown brewer has found itself in financial trouble after a horror few months for the sector. Deep Creek described itself as a company…
No one sets out in business expecting the company to become insolvent. However, in an increasingly challenging trading environment, many companies will unfortunately experience issues with cash flow, increased costs of doing business, and changing consumer preferences, all of which have the potential to threaten the ongoing viability of the business. If the situation continues,…
Advertisement Almost a quarter of Brits will have to go into debt to fund their Christmas shopping this year as the cost of living bites, a new survey has revealed. The Cost of Christmas survey of over 2,000 people, by personal insolvency provider, Creditfix, revealed what their spending habits will look like this Christmas. –…
Dozens of ASX-listed companies are on the brink of collapse and in need of drastic change to turn things around, with potential investors warned to be on the lookout for zombie firms. According to data from big four accounting firm KPMG released on Monday, there has been a disconcerting rise in zombie companies in the…
ASIC has prosecuted 100 individuals for failing to assist liquidators with insolvency proceedings, reaping over $430,000 in fines during the first half of the year. The 100 prosecuted individuals were guilty of 194 offences under the Corporations Act 2001 by not providing liquidators with access to company books and failing to submit a report on…
Article content An Alberta woman forced into bankruptcy after taking out loans to help her alleged boyfriend fight a bogus impaired driving charge wept in court as she recounted his betrayal. Anthony Renella-Dugas was sentenced to 21 days in jail Oct. 24 after pleading guilty to a charge of fraud over $5,000. The 30-year-old was…