Good morning, and welcome to our rolling coverage of business, the financial markets and the economy. With Britain now in a technical recession, economic data will be closely scrutinised for signs that the downturn could be ending. And the latest retail sales figures, just released, show that retail sales across Great Britain grew at the…
DetailsThe first monthly insolvency statistics have been released for 2024, focusing on January. Here we provide a detailed overview. Company Insolvencies January 2024 saw 1,769 registered company insolvencies through England and Wales. This is an increase of 5% when compared to the amount registered in the same month of 2023. Compared to December 2023 figures…
DetailsFormer Nexus Independent founder Kerry Nelson has been declared bankrupt, official records show. The Gazette has been updated to show a bankruptcy order for Kerry Kathleen Nelson, as at November 2023, ‘occupation unknown’, of Stroud Green Lane, Fareham. The filing was made in the county court at Portsmouth. A spokesperson for the Official Receiver’s office…
DetailsThe education secretary would be able to determine if a borrowers circumstances entitle them to debt relief under a new proposed plan. Caroline Brehman/CQ-Roll Call Inc./Getty Images Student loan borrowers likely to default and those experiencing hardship because of their loans could see their balances wiped out under the Biden administrations latest debt-relief plan, though…
DetailsKey takeaways Balance transfers can be an effective tool for paying off high-interest debt, but only if handled carefully. You can transfer multiple balances to a new balance transfer card, but there may be restrictions based on your credit limit and creditworthiness While balance transfers can help with debt payoff, its important to be aware…
DetailsIn recent days, the right to disconnect has entered Australias legislative agenda. It refers to employees rights to refuse unreasonable after-hours contact from their employer. In a work landscape where employees are constantly available after hours thanks to smartphones and portable devices, and employers are competing in global markets and operating on tight deadlines, concerns…
DetailsSAN DIEGO, CA, Feb. 15, 2024 (GLOBE NEWSWIRE) — Pacific Debt Relief, a debt settlement company based in San Diego, California, has achieved a significant milestone by settling over $500 million in consumer debt since its inception in 2002. This accomplishment underscores the company’s dedication to providing effective debt relief solutions to Americans struggling with…
DetailsA promotional shot for the Nique fashion brand. Source: Facebook/ Nique Australian fashion label Nique has entered voluntary administration, becoming the latest high-street brand to falter in a tumultuous economic environment. The 26-year-old label, best known for its minimal black and white designs and earth-tone apparel, on Wednesday appointed Justin Howlett of SMB Advisory as…
DetailsOn 25 June 2020, the Corporate Insolvency and Governance Bill (the Bill) received Royal Assent and on 26 June 2020 CIGA came into force. The restructuring team in Mayer Browns London office have previously commented on the different elements of the Bill in a series of blog posts and podcasts. CIGA was swiftly followed by…
DetailsJones Day has been called in to act as the lead law firm on the administration of The Body Shops UK business. A cross-practice team led by London restructuring partner David Harding is working with administrators FRP Advisory to rescue the business, which employs more than 2,000 people in the UK and has around…
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