Canadians enter the workforce with an average of nearly $27,000 in student loan debt, finds a survey by Consortium, C.U. The debt typically takes 10 years to repay, which means many delay saving for traditional life goals like home ownership, starting a family or retirement. Great-West Life is piloting a voluntary retirement and savings program with select…
The owner of an electrical contractor that has ceased trading after more than three decades admits it is a sad day. Steve Marshalls Netherfield-based company SJ Marshall Electrical Limited has entered voluntary liquidation, with all 34 staff made redundant yesterday (Monday, October 23). The firm had worked with national retailers and pub companies, as well…
Billionaire Sears Holdings (SHLD.O) Chairman Eddie Lampert is wading into the blame game over Sears Canadas demise. In a lengthy blog post, Lampert, who owned a large stake of the firm through ESL Holdings, said company management sowed the seeds of the retailers slide into insolvency by undertaking an ill-fated strategy when former Executive Chairman…
Two directors of a company that traded in fine wines have been disqualified for a combined 20 years, following an Insolvency Service investigation, after scamming its customers out of nearly £1 million. Explosion of a glass with red wine The investigation by the Insolvency Service found that Crimson Fine Wines Limited, based initially in London…
A plan to help people in serious debt, by potentially giving them a six-week grace period from things like higher interest charges, has been announced by the Treasury. The Government said it was launching a consultation until January on how its “breathing space” scheme could work and in what circumstances amid concerns about growing problem…
People who are suffering from problem debt could be granted a six-week grace period to get their finances back on track, under new plans being considered by the Treasury. Under the plans, those plagued with excessive household debt would be exempt from further interest, charges and enforcement action for a period of six weeks, which…
Published on Friday, January 6, 2017 A report coming out later this month will show that nearly four in 10 travel companies are now in ‘significant’ financial distress. Data analysed by insolvency firm Begbies Traynor found 2,679 businesses in the travel sector – thought to be made up of around 7,000 companies – were experiencing…