All the updated news related to insolvency

All the news related to insolvency updated in real time

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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 the ...

24 Mar 2022 at 01:25

Wimbledon star Boris Becker jailed for two-and-a-half years over bankruptcy

Three-time Wimbledon champion Boris Becker has been jailed for two-and-a-half years for hiding £2.5 million worth of assets and loans to avoid paying his debts. The former world number one, 54, was declared bankrupt on June 21 2017, owing ...

29 Apr 2022 at 16:55

Personal Finance

61% annual increase in people taking out debt relief orders in February

The number of people taking out a debt relief order (DRO) in England and Wales last month was 61% higher than a year earlier, according to Insolvency Service figures. DROs are a formal type of personal insolvency aimed at people with ...

15 Mar 2022 at 15:25

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 ...

20 Aug 2022 at 09:56

Scotland

Corporate and personal insolvencies increase as costs soar

Both corporate and personal insolvencies have risen compared to last year as inflation and the cost-of-living crisis affect businesses and individuals, according to new analysis. There were 270 corporate insolvencies in ...

26 Oct 2022 at 15:38

City

Company insolvencies jump 40% for latest quarter amid rising costs

Company insolvencies in England and Wales jumped by 40% year-on-year over the past quarter as firms faced rocketing costs, higher interest rates and labour shortages. Official data from the Insolvency Service showed ...

28 Oct 2022 at 13:59

Almost 2,000 firms slide into insolvency in October

Company insolvencies leapt by 38% last month in England and Wales as the economic downturn caused more firms to collapse. Fresh figures from the Insolvency Service showed that 1,948 companies tumbled into ...

15 Nov 2022 at 13:34

Insolvencies rise as companies worry about energy bills

Nearly a quarter of small businesses say that energy prices are their main concerns as insolvencies spiked to their highest level since the wake of the financial crisis. The number of companies going ...

07 Oct 2022 at 14:06

Restaurant company insolvencies rise by 59% over past year

Restaurant company insolvencies have increased by 59% over the past year, according to research. The total has risen from 984 in 2020/21 to 1,567 in 2021/22, according to advisory firm Mazars. In ...

21 Nov 2022 at 01:01

City

August saw highest number of companies collapsing this year, analysis shows

August saw the highest number of insolvencies this year as nearly 100 companies went into administration amid worsening financial pressures. Businesses have been grappling with higher costs and ...

20 Sept 2022 at 17:23

Tens of thousands of firms at risk of failure over spiralling energy bills

The UK could witness the collapse of an “unprecedented number of otherwise healthy businesses” over the coming months due to rocketing energy bills, insolvency experts have warned. Red Flag ...

07 Sept 2022 at 12:39

City

Surge in companies facing collapse as Government chases down Covid debts

The number of companies in critical financial distress increased by more than one-third year-on-year at the end of 2022, according to an insolvency specialist which warned of an influx of ...

24 Jan 2023 at 13:26

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