Business failures continue to propel personal insolvency chain reaction: ‘Trumponomics’ could trigger further bankruptcies, says insolvency solutions firm

Bankruptcy

Media release 1 December 2024   Business failures continue to propel personal insolvency chain reaction ‘Trumponomics’ could trigger further bankruptcies, says insolvency solutions firm   Business-related personal insolvencies are on the rise, the latest quarterly figures from AFSA show. And geopolitical uncertainty – particularly ‘Trumponomics’ – could trigger greater numbers in 2025, warns insolvency and…

Could an NDIS Small Business Restructure help you?

Bankruptcy

Many Australian disability service providers are struggling with increased costs, rising interest rates, cash flow issues and regulatory changes.  It should be no surprise that NDIS businesses are increasingly facing financial distress.  When facing financial challenges, it’s crucial to seek effective solutions. The Small Business Restructure (SBR) process provides assistance to NDIS providers dealing with…

Lion Électrique Faces Imminent Bankruptcy Threat

Bankruptcy

Lion Électrique, the Quebec-based manufacturer of electric buses and trucks, is facing dire financial challenges, with warnings of imminent insolvency looming over the company. With liquidity issues seriously hindering its operations, analysts are increasingly voicing concerns about whether the company can survive without major financial intervention. Professor Yan Cimon from Laval University characterizes the situation…

From Tupperware to Evergrande, top companies that filed for bankruptcy in 2024

Bankruptcy

In 2024, several high-profile companies faced financial turmoil, culminating in filing for bankruptcy—a legal process that allows businesses unable to meet their debt obligations to restructure or liquidate their assets. Bankruptcy often signals a last-ditch effort to salvage operations, address creditor claims, or wind down entirely. This year, a mix of economic pressures and shifting…

What’s changed one year on?

Bankruptcy

BBC Nottingham City Council issued a section 114 notice a year ago One year ago, Nottingham City Council confirmed the news that many had been expecting for some time – that it had effectively gone bankrupt. The Labour-run council joined a growing list of local authorities that have issued a section 114 notice, an acknowledgement…