Monthly UK insolvencies remain stubbornly high ahead of Budget Economics The release noted that monthly insolvency numbers so far in 2024 have been similar to 2023, which saw the highest annual number of insolvencies since 1993.
Summer of sport helps provide respite but insolvency trend continues Business A summer of sport and warmer weather helped provide some respite to the retail and hospitality industries in England and Wales helped the number of insolvencies dip last month compared to July, according to new figures. Around 10,000 individuals entered insolvency in August 2024, five per cent lower than July’s total but 16 per cent [...]
Compulsory liquidations hit highest level in almost six years Economics New figures from the Insolvency Services showed that there were 320 compulsory liquidations in July, the highest number since before the pandemic.
Financial distress soars in ‘extremely testing’ UK business environment July 22, 2024 Although consumer facing firms were hit the worst, levels of distress increased across 20 of the 22 sectors covered in the Red Flag Alert.
Firms still face ‘significant pressure’ despite slight decline in insolvencies June 18, 2024 Last year saw the highest number of company insolvencies since 1993, with 25,000 firms going under.
Debt headache as just a quarter of execs have experience of higher interest rates May 28, 2024 "For many of the people tasked with tackling higher interest costs, this is a new challenge," Nick Forest, a partner at the firm said.
Insolvency expert Manolete Partners reports revenue growth as higher interest rates bite April 18, 2024 Manolete Partners, the insolvency litigation financing company, overall revenue jumped by 26 per cent, as the business benefits from uplift of the temporary suppression of insolvencies.
SYK Recruitment Specialists among the 400+ recruitment agencies that went bust last year April 16, 2024 Insolvencies of UK recruitment agencies have increased by 14 per cent in the last year to 413, as the sector struggles with the slowdown in the hiring market across the country.
‘Death by a thousand cuts’: UK insolvencies soar 17 per cent and exceed pandemic levels March 15, 2024 The government agency said this was higher than levels seen during the pandemic "while the government support measures were in place", with things like the furlough scheme. It is also higher than pre-pandemic figures.
‘Fragile’ UK at risk from ‘another acceleration’ in business insolvencies, Allianz warns February 28, 2024 The insurer's global insolvency outlook estimated 15 per cent of small and medium-sized businesses in the UK are at risk of going bust, the highest proportion of "fragile firms" in Europe.