This year was brutal for a number of well-known companies and their bottom lines. As inflation continued to rear its ugly head, consumers slashed their discretionary spending, tilting some companies to file for bankruptcy. Other brands fell victim to changing trends or even more malicious ailments, like cyberattacks. At least 19 companies have cut a…
In 2024, there were 23,872 company insolvencies, with a rise in company voluntary arrangements (CVAs) to 202, the highest figure since the first year of covid, as businesses looked for rescue options. The majority of collapses were down to compulsory liquidations at 18,840, although this figure was 8% down year on year. Company insolvencies might…
Jordan Allen fraudulently secured a £50,000 Covid Bounce Back Loan in 2020 – the most businesses were entitled to under the scheme – by overstating his turnover by more than £200,000 His plastering business should only have received around £5,000 if he had submitted an accurate application for the loan Allen, who was declared bankrupt…
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails Company collapses in England and Wales fell last year, according to new official figures, but experts warned of more uncertainty…
Company collapses in England and Wales fell last year, according to new official figures, but experts warned of more uncertainty for firms in the coming months. Some 23,872 companies went out of business in 2024, the Insolvency Service said, down 5% on the previous year. Despite the drop year-on-year, the number of insolvencies was far…
Some 23,872 firms went out of business last year, the Insolvency Service said (Joe Giddens/PA) Company collapses in England and Wales fell last year, according to new official figures, but experts warned of more uncertainty for firms in the coming months. Some 23,872 companies went out of business in 2024, the Insolvency Service said, down…
According to the latest government statistics, the number of registered company insolvencies across the UK has decreased to 23,872, reflecting a reduction of 5% compared to 2023. Stephen Goderski, Partner at restructuring and insolvency firm PKF Littlejohn Advisory, notes that while a decline in insolvencies is welcome news, businesses are not out of the woods…
The number of people going financially insolvent in England and Wales last year was 14% higher than in 2023, driven by debt relief orders (DROs) jumping to a record high, according to the Insolvency Service. Some 117,947 personal insolvencies were registered in 2024, 14% higher than the 103,434 recorded in 2023. Within the total, there…
Personal insolvencies jumped by 14% annually in 2024 across England and Wales Evening Standard Read the original article here
December insolvencies down by a quarter year-on-year Insider.co.uk Read the original article here