The British-based company which set out plans to become a global pioneer in electric vehicle manufacturing has taken a step closer to insolvency after lining up a new set of advisers to oversee contingency planning. Sky News has learnt that Arrival, which is listed on New York’s Nasdaq stock exchange, is in discussions with EY,…
From bankrupt to billionaire to bankrupt again, all in the space of seven years. Robert Bull, the bungalow tycoon nicknamed Bob the Builder, is being chased by creditors just nine months after being crowned as one of Britains richest men with an estimated fortune of 1.9bn. Now, his holiday park empire is being broken up…
Corporate insolvencies in England and Wales are now at their highest level since 2009. The rise in insolvencies follows the end to the Governments Covid-19 support schemes, the buildup of debt post-pandemic, unprecedented inflation and interest rate increases. More frequently than ever, questions are being raised as to what happens if a company is suffering…
The last few months have been challenging for startups and scaleups, and this month, Berlin impact startup SIRPLUS filed for insolvency- German startup SIRPLUS was founded in 2017. It brings excess food back into the retail cycle by selling it through subscription boxes, including food rejected by supermarkets due to size, colour or overproduction. Through…
States regulate insurance companies, and all 50 states have systems in place to protect policyholders if an insurance company goes out of business. That means youre not totally out of luck if your insurance company goes under. Its important to understand how the process works and what sort of protection it offers. Better yet, know…
Corporate insolvencies in December continued to rise, with an increase of two per cent compared to December 2023. However, the increase was significantly lower than last Decembers year-on-year increase of 32 per cent, according to figures published this week by the Insolvency Service. This takes the number of corporate insolvencies in the month of December…
Corporate insolvencies in December continued to rise, with an increase of 2% compared to December 2023. However, this increase was significantly lower than last Decembers year-on-year increase of 32%, according to figures published this week by the Insolvency Service. This takes the number of corporate insolvencies in the month of December to 79% higher than…
With a rise in the number of businesses collapsing, construction companies need to be aware of how to protect themselves against risks. According to UK Government data, construction firms in England and Wales topped the list of industries that experienced the highest number of insolvencies in the 12 months ending 30 September 2023. The number…
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 Insolvency Service is looking into concerns around the potential mis-selling of IVAs (individual voluntary arrangements). The service said it wants to understand the experience of some consumers…
The monthly insolvency statistics have been released for the month of December 2023. This article explores the findings. Company Insolvencies December 2023 saw 2,002 registered company insolvencies through England and Wales. This is an increase of 2% when compared to the amount registered in the same month of 2022. This is also higher than figures…