BusinessConsumer MORE than 80 per cent of respondents to a national survey of insolvency and restructuring professionals said they expect personal insolvency numbers to increase over the next year. Sunday, 26th July 2020, 12:03 pm Updated Sunday, 26th July 2020, 12:06 pm Eleanor Temple, the chair of R3 in Yorkshire and a barrister at Kings…
Robert Barnes | Getty Images A number of retailers were already teetering on the brink of collapsing prior to the coronavirus pandemic slamming the industry. The pressures have intensified immensely. A few big names in retail, including Pier 1 Imports and Modell’s Sporting Goods, filed for bankruptcy much earlier in the year, weighed down by…
Andorra-based European LED screen and lighting manufacturer Llum Creativa, trading as ARCH LED, has been declared insolvent. An administrator, Lourdes Alonso Martnez, has been appointed by the court in Andorra and creditors have 30 days to make contact. The company was founded in 2003 by Belgian entrepreneur Sebastian Clement, and initially served the entertainment and…
British High Commissioner to India Philip Barton says no time frame can be given for Mallyas extradition. IN LONDON Vijay Mallya has managed to stave off the attempt by Indian banks to declare him bankrupt. UKs chief insolvency and companies court Judge Briggs on Thursday refused permission to both Mallya as well as the consortium…
23 Jul 2020 Nearly two thirds of insolvency professionals who expect personal insolvencies to rise this yearbelievethe increase will kick inbetween October and December,a study has found. Lauren Tavener Recent History and Economics graduate and content writer for Credit Strategy. Lauren Tavener Recent History and Economics graduate and content writer for Credit Strategy. R3, the…
When the pandemic eventually recedes and you feel comfortable shopping in malls again, theres a good chance the retail landscape will look very different. For instance, there will be far fewer Ann Taylor, Lane Bryant, and Loft stores to shop from. Ascena Retail Group, the umbrella company that owns these brands along with Catherines, Justice,…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 46 bankruptcies in week 29. This is 10 down on the previous week. In addition, 11 sole proprietorships were declared…
Andorra-based European LED screen and lighting manufacturer Llum Creativa, trading as ARCH LED, has been declared insolvent. An administrator, Lourdes Alonso Martnez, has been appointed by the court in Andorra and creditors have 30 days to make contact. The company was founded in 2003 by Belgian entrepreneur Sebastian Clement, and initially served the entertainment and…
A French court on Tuesday placed long-distance coach company Eurolines into compulsory liquidation, a lawyer for the firm’s employees told AFP. After 35 years, the French transport giant will stop operations on Friday. It came after Eurolines was bought out by German group FlixBus last year, but unions have claimed the holding company refused to…
The number of people going financially insolvent is poised to spike in the run-up to Christmas as businesses fail and unpaid debts mount up, a survey of experts suggests. The majority of personal insolvency experts who think there will be an increase in cases in the coming year think the spike will happen towards the…