All the updated news related to insolvency

All the news related to insolvency updated in real time

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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 lower amounts ...

15 Mar 2022 at 15:25

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 there were 5,595 registered ...

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 insolvency in October, compared with ...

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 insolvent in England and Wales has been ...

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 the past three months, the number of ...

21 Nov 2022 at 01:01

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 Alert, which monitors the financial ...

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 small businesses teetering on the ...

24 Jan 2023 at 13:26

Home

High Court approves €4.4m debt write-off for former Waterford councillor

The High Court has approved a Personal Insolvency Arrangement allowing a former Fianna Fáil councillor and General Election candidate to write off over €4.4m in debt. The PIA was approved in respect of Thomas 'Eddie' ...

28 Mar 2023 at 13:33

City

Paperchase collapse and raft of company insolvencies boost Begbies Traynor

Restructuring specialist Begbies Traynor Group says its finances have been boosted by the collapse of Paperchase earlier this year. Begbies Traynor was appointed as administrator after the struggling stationery ...

27 Feb 2023 at 10:50

City

Record number of UK firms facing serious financial strain – report

A record number of UK businesses are facing a serious financial strain, as post-Covid debts squeeze all corners of the economy, a report has found. The warning comes after a series of businesses have been on ...

18 Oct 2024 at 11:33

City

Company failures will stay high amid surge in wage bills, warns Begbies

Insolvency specialist Begbies Traynor has warned that higher wage bills and prospects for fewer interest rate cuts will keep company failures at high levels, as it revealed its own cost hit from the recent ...

18 Nov 2024 at 09:15

Personal Finance

Rising used car prices ‘have been barrier to people entering insolvency’

Rises in used car prices have been a barrier to people entering insolvency in recent years, according to a financial support service. Money Wellness made the comments ahead of changes to debt relief ...

25 Jun 2024 at 12:31

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