A bleak picture Data by a leading insolvency specialist shows that 5,919 United Kingdom (UK) construction companies find themselves in dire straits, with a further 72,257 companies (representing 20 percent of the total number of construction companies in the UK) in a less critical but still concerning state of financial distress. In the UK, there…
HMRC has announced that it will no longer provide pre- and post-tax clearances in members voluntary liquidation (MVL) cases. This decision, effective immediately, has significant implications for insolvency practitioners and businesses alike. In a statement on December 6, 2023, HMRC revealed the cessation of tax clearance services for MVLs. The decision was based on the…
Unsecured creditors of Metroland have approved an insolvency proposal by the Toronto Star’s sister company. The creditors, including former employees, voted Monday at a meeting chaired by proposal trustee Jonathan Krieger, a partner at Grant Thornton, a restructuring and insolvency consultancy. The proposal still needs court approval. The company says it intends to pay former…
Are you a resident in a RoyaleLife bungalow village? Email [email protected] By Elizabeth Haigh Published: 03:45 AEDT, 12 December 2023 | Updated: 04:04 AEDT, 12 December 2023 Residents at a bankrupt billionaire’s bungalow village have told MailOnline of multip… Read the full article at: https://www.dailymail.co.uk/news/article-12850837/royalelife-bungalow-village-sewage-security-bin-collection-problems.html
With all the job cuts and studio closures, 2023 has been a rough year for developers of all sizes. Danish indie team Triple Topping has unfortunately joined the list, announcing that it had to lay off its entire workforce. Dead Pets Unleashed On December 8, Triple Topping CEO Astrid Refstrup published a statement on X…
Insolvency specialist Begbies Traynor is hiring more staff as thousands more companies fall into trouble. The London-listed business said it had grown its headcount by 12pc over the past 12 months in response to continuing increase in demand for insolvency services. Begbies has hired 50 more staff to work on insolvencies, taking the total headcount…
Higher interest rates are pushing an increasing number of companies into insolvency, according to one of the UKs biggest insolvency practitioners. Begbies Traynor said it expected to see more businesses tip into insolvency in tandem with the indicators of corporate financial stress in the UK, alongside its financial results published on Monday. The Bank of…
Former Wales star Craig Bellamy lost his fortune and was declared bankrupt His financial ruin is the result of a series of failed investments made on his behalf He hopes that his situation offers a stark warning to young players of today By Oliver Holt For The Mail On Sunday Published: 02:30 AEDT, 2 April…
It is an unfortunate fact that many companies will find themselves facing financial or operational challenges at some point in their life cycle. Often times this is due to situations that are out of the control of the companys directors and management team. Things such as a changing marketplace, shifting consumer expectations, the loss of…
All employees at a Sydney joinery and manufacturing business heavily involved in corporate and commercial construction have lost their jobs and the firm has ceased to trade. On Friday morning, 30 cabinet makers rocked up to the Wetherill Park factory of GDK Group expecting work as usual. But just 15 minutes earlier news.com.au had revealed…