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Why are councils going bankrupt? | Politics News

Nottingham City Council has become the latest local authority to effectively declare bankruptcy as it is unable to fulfil its legal obligation to balance its budget. The state of the council’s spreadsheets has been blamed partly on mistakes of its own making – namely the collapse of an energy firm it launched back in 2020,…

Austrian real-estate giant Signa to file for bankruptcy – DW – 11/29/2023

Signa, Austria’s real-estate giant, announced on Wednesday that it plans to file for insolvency, following its German subsidiary, which also took the step recently. The holding company will apply for the opening of reorganization proceedings with self-administration at the Vienna Commercial Court on Thursday, it said. “Despite considerable efforts in recent weeks, the necessary liquidity for an…