The number of corporate insolvencies in the North East has fallen slightly in the first three months of the year but remains at worrying levels, industry experts say. Official insolvency figures revealed a 3.7% quarter-on-quarter fall in the number of corporate insolvencies across England and Wales between the final three months of last year (5,969)…
This article covers a developing story. Continue to check back with us as we will be adding more information as it becomes available. Financial troubles have reached the breaking point for Indian low-cost carrier Go First. As reported by The Times of India, the airline has filed initial bankruptcy proceedings with the National Company Law…
Daily News View All News 02 May 2023 Go2 People Ltd. (GO2:ASX), the Australia-based provider of vertically integrated recruitment and training services, announced that it has entered voluntary administration. The announcement comes after the group announced last week that its securities would be suspended from quotation immediately under Listing Rule 17.2, at the request of Go2,…
Go First (G8, Mumbai International) has filed for insolvency at the National Company Law Tribunal in Delhi, blaming Pratt & Whitneys defective and failing engines for a cash-flow crisis, it said in a two-page statement on May 2. According to local media, it has suspended its flights for May 3 and 4. The low-cost carrier…
Fresh blow for the construction industry as ANOTHER building company collapses into administration Qld Cedar Constructions has gone into administration Questions raised over whether it had a proper licence Latest blow to embattled construction industry By Max Aitchison For Daily Mail Australia Published: 16:51 AEST, 2 May 2023 | Updated: 17:56 AEST, 2 May 2023
As the Reserve Bank board braces for another interest rate decision tomorrow and over-borrowed interest rate worriers pray for no change, the news is growing that10 interest rate rises are starting to bite, big time. One industry expert called it an insolvency Armageddon with cash-troubled business wind-ups reaching 828 in March, after starting the year…
The post-pandemic economic recovery initially exceeded expectations. Now many Canadian businesses are struggling with rising interest rates, heightened residual debt loads, ongoing supply disruptions, a labour shortage, and threats of an economic downturn. Consumers and business debtors are both faltering. Pressures are increasing on small and medium-sized enterprises (SMEs) as Canada Emergency Business Account (CEBA)…
It was the winter that never came: Europe rode out the energy crisis thanks to good weather, and the EU has so far avoided a recession that was thought a nailed-on certainty a year ago. You can read the full report by Larry Elliott, the Guardians economics editor, here: Holger Schmieding, chief economist at Berenberg,…
Courgettes former owner and chef James Mussillon. Photo: Supplied. Award-winning Canberra restaurant Courgette has gone into voluntary administration as of Wednesday (26 April), according to Australian Securities and Investments Commission records, although the business is continuing to trade as usual and is encouraging customers to keep their reservations. This comes just weeks after its former…
S cotlands businesses are still suffering from a Covid hangover with new figures showing the number of firms becoming insolvent has reached an 11-year high. Corporate insolvences rose to 1,132 in 2022-23, with this up by almost a third (32.6%) on the previous year, new figures from the Accountant in Bankruptcy showed. The 2022-23 total is nearly…