All the updated news related to insolvency service

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Insolvency Service says P&O will not face criminal action over mass sackings

The Insolvency Service has determined P&O Ferries will not face criminal proceedings over its actions in firing almost 800 workers earlier this year. The company sparked public anger and was hauled in front of MPs to answer questions when it sacked ...

20 Aug 2022 at 09:56

Personal Finance

Thousands seek breathing space from debts as insolvencies rise

More than 75,000 registrations for breathing space from debts have been recorded since May last year, as the number of people going financially insolvent across England and Wales has increased annually. And with households facing a tough winter ...

02 Aug 2022 at 11:53

P&O chief executive to be quizzed by MPs over sackings

The chief executive of P&O Ferries is to be quizzed by MPs on Thursday over the controversial sacking of nearly 800 workers without notice amid continued protests over the dismissals. Peter Hebblethwaite will appear before a joint hearing of ...

24 Mar 2022 at 01:25

City

Bankruptcies in England and Wales slump to lowest levels since 1989

The number of people going bankrupt across England and Wales last year was the lowest since 1989, according to official figures. The decrease helped the overall number of personal insolvencies fall to a four-year low last year. Some 110,022 ...

28 Jan 2022 at 11:55

Personal Finance

Personal insolvencies in England and Wales at highest level since 2018

The number of people going financially insolvent across England and Wales jumped to the highest level in more than three years in the first quarter of this year. There were 32,305 personal insolvencies between January and March, according ...

28 Apr 2022 at 11:25

Personal Finance

Annual jump in number of people taking up debt ‘breathing space’ schemes

The number of people taking “breathing space” from their financial problems has jumped by more than a third annually, according to figures from the Insolvency Service. There were 23,179 breathing space registrations in the first three ...

28 Apr 2023 at 12:54

Bosses at P&O Ferries confident of avoiding fine for mass sackings

P&O Ferries is confident of avoiding a fine for sacking nearly 800 seafarers without notice. The annual report of the DP World-owned ferry operator, seen by the PA news agency, said its directors think an ongoing inquiry by the ...

25 Apr 2023 at 11:22

Personal Finance

Company insolvencies in England and Wales jump to 14-year high

The number of firms falling into insolvency in England and Wales surged to the highest level for 14 years in the past quarter, according to Government figures. Insolvency Service data revealed that there were 6,342 company ...

28 Jul 2023 at 11:59

Personal Finance

26% annual jump in people registering for ‘breathing space’ from debts

The number of people across England and Wales registering for “breathing space” from their debts jumped by 26% in the second quarter of this year compared with the same period in 2022, according to the Insolvency Service. ...

28 Jul 2023 at 15:10

Personal Finance

25% jump in people needing breathing space from debts last year

The number of people needing breathing space from their debts jumped by 25% in 2023 compared with the previous year. Across England and Wales, there were 88,390 registered breathing spaces in 2023, comprised of 86,928 ...

30 Jan 2024 at 11:25

Personal Finance

Insolvency Service probes concerns around potential mis-selling of IVAs

The Insolvency Service is looking into concerns around the potential mis-selling of IVAs (individual voluntary arrangements). The service said it wants to understand the experience of some consumers when taking out ...

16 Jan 2024 at 15:43

City

Company insolvencies on track for 14-year annual high after December rise

The number of companies in England and Wales that went bust in 2023 are on track to hit the highest annual level since the aftermath of the financial crisis in 2009 after a jump last month. The Government’s ...

16 Jan 2024 at 15:06

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