T he number of UK firms entering insolvency jumped last month as businesses came under pressure from higher borrowing costs and waning consumer demand. Official figures from the Insolvency Service revealed that 2,163 insolvencies took place in June. It said this represented a 27% jump against the same month last year and put the UK…
STORY CONTINUES BELOW THESE SALTWIRE VIDEOS SaltWire’s Atlantic regional weather forecast for July 18, 2023 | SaltWire Watch on YouTube: “SaltWire’s Atlantic regional weather forecast for July 18, 2023 | SaltWire” LONDON (Reuters) – England and Wales are on track for the highest quarterly number of company insolvencies since early 2009, as businesses struggle to…
Dutch electric bike maker VanMoof, whose popularity earned it the name “Tesla of e-bikes” but has faced financial problems, has been declared bankrupt by a court. The company had raised 117m in September 2021 in an effort to expand as it rode a boom in the e-bike sector after the Covid pandemic prompted people to…
VanMoof has been declared insolvent. According to the latest report by The Verge, the court in Amsterdam has withdrawn the so-called suspension of payments order and said the e-bike brand is bankrupt in what appears a rather abrupt manner. The news comes only days after the first reports of VanMoof facing severe difficulties appeared. Insolvency…
Company insolvencies in England and Wales jumped by 27 per cent in the year to June amid rising borrowing rates and broader economic weakness. Some 2,163 companies were declared insolvent in June, which is up from 1,698 at the same time last year, fresh data from the Insolvency Service published by the Government on Tuesday…
The number of businesses being wound up has increased again as firms are hit by the withdrawal of COVID-era support, higher interest rates and dwindling consumer spending. The level of business insolvencies is higher than pre-pandemic times and when the state was supporting businesses throughout the COVID-19 years, figures from the Insolvency Service show. Registered…
AMSTERDAM (AP) Dutch bicycle maker VanMoof has been declared bankrupt, slamming the brakes on a company that won design awards for its stylish, minimalist electric bikes but struggled to meet soaring demand and fix glitches with the app powering its service. The Amsterdam-based company, started in 2009 by brothers Taco and Ties Carlier, posted a…
AMSTERDAM — Dutch bicycle maker VanMoof has been declared bankrupt, slamming the brakes on a company that won design awards for its stylish, minimalist electric bikes but struggled to meet soaring demand and fix glitches with the app powering its service. The Amsterdam-based company, started in 2009 by brothers Taco and Ties Carlier, posted a…
LONDON, July 18 (Reuters) – England and Wales are on track for the highest quarterly number of company insolvencies since early 2009, as businesses struggle to repay COVID-19 loans against a tough economic backdrop, government figures showed on Tuesday. The Insolvency Service, a government agency, said 2,163 companies were declared insolvent in June, up 27%…
A total of 29 food and drink businesses in Nottinghamshire have been declared insolvent in a restaurant crisis sweeping the country. New data has revealed that 3,347 restaurants, pubs and cafes across the UK have been unable to pay their debts in the two years to March 2023, according to data from the Insolvency Service.…