German insolvencies rise amid runaway costs and inflation – DW – 05/06/2025

Leipzig-based Heiterblick, a tram manufacturing company, has filed for insolvency despite having full order books. The company, which employs 250 people, is struggling with increased raw material costs, making it unprofitable to fulfill long-term contracts at previously agreed prices. This issue is not unique to Heiterblick; many companies with viable business models are facing similar…

Government ‘committed’ to further Woking debt support

The government has confirmed that support with Woking BC’s debt will be provided for any new authorities as part of local government reorganisation in Surrey. Woking issued a section 114 in June 2023 and commissioners were appointed in December. The district had a debt of £1.9bn, while its revenue budget was just £16m. Woking BC’s…

Andrea Pirlo’s son racks up €30k debt in illegal betting scandal which forced legendary Italian midfielder to ‘block’ bank account until teenager became lawful adult

Andrea Pirlo had to block his son’s ban account in 2022, as the then teenager amassed gambling debts of €30k in illegal online scheme. Article continues below Article continues below Article continues below Ex-Italy international took decisive action Son forced to learn the hard way Avoid repetition of the same words & topics Read the…

Germany sees uptick in insolvencies – DW – 05/06/2025

Leipzig-based Heiterblick, a tram manufacturing company, has filed for insolvency despite having full order books. The company, which employs 250 people, is struggling with increased raw material costs, making it unprofitable to fulfill long-term contracts at previously agreed prices. This issue is not unique to Heiterblick; many companies with viable business models are facing similar…

UK corporate insolvencies see slight decline in 2024

The UK saw a modest decline in corporate insolvencies in 2024, offering a glimmer of hope for businesses grappling with ongoing economic pressures. Official figures from the Insolvency Service revealed 23,872 registered company insolvencies during the year—a 5% drop from the 25,163 cases recorded in 2023, which marked the highest annual total since 1993. Key…