Total insolvencies rise in England and Wales, and Northern Ireland, while Scotland sees a modest dip. Total insolvencies rise in England and Wales, and Northern Ireland, while Scotland sees a modest dip. The latest statistics from the Insolvency Service reveal a rise in company insolvencies across the United Kingdom, with January 2025 witnessing a notable…
UK pay growth picks up Good morning, and welcome to our rolling coverage of economics, the financial markets and the world economy. UK pay growth has accelerated at the end of last year, bringing relief to workers and a headache for the Bank of England The latest employment data, just released, shows that total pay…
Company insolvencies in Scotland saw a 15% decrease in January 2025 compared to the same period last year. A total of 75 insolvencies were registered, comprising 37 Creditors’ Voluntary Liquidations (CVLs), 32 compulsory liquidations, and six administrations. No Company Voluntary Arrangements (CVAs) or receivership appointments were recorded. The insolvency rate for the 12 months to…
Warning: This article may contain graphic and/or adult content unsuitable for minors and sensitive readers. Read the article EC Provincial Government The Eastern Cape Provincial Government, in partnership with the Manufacturing, Engineering, and Related Services Sector Education and Training Authority (MerSETA), has launched a R70 million debt relief initiative to assist unemployed graduates burdened by…
The matter of Salesio Kinyua Njagi and Nine Others v Invesco Assurance Company Limited [2021] (eKLR) dealt with the application of the law around the insolvency of insurance companies. Public interest is of great concern to the insurance industry, necessitating its consideration when filing liquidation proceedings against such companies. It is imperative to have clarity on…
The start-up suffered from a fire at its manufacturing site a few weeks ago. Liquidators have been appointed to the Galway-based battery systems manufacturing start-up Xerotech. The company, founded in 2015, employs 100 people. Luke Charleton and Alan Large of EY-Parthenon’s Turnaround and Restructuring Strategy team have been appointed as joint liquidators to preside over…
Haydale places “loss-making” US arm into corporate insolvency process Insider Media Read the original article here
Stats released today by The Insolvency Service unveiled a 6% increase in company insolvencies in the year ending January 2025 compared to the month before, and 11% more than in January 2024, as the dust beings to settle following a disruptive Autumn Budget for British business. According to Giuseppe Parla, Business Recovery Director at Menzies, December stats bucked…
The number of people going financially insolvent across England and Wales jumped by 12% in January compared with the same month a year earlier, according to Insolvency Service figures. Some 9,706 people entered insolvency last month, which was 3% lower than in December 2024 but 12% higher than in January 2024. Personal insolvencies are made…
Scottish company insolvencies down 15% year-on-year Insider.co.uk Read the original article here