COVID-19: Largest jump in businesses facing ‘significant financial distress’ since 2014 – Sky News

A closely-watched report has noted the largest quarterly leap in the number of businesses suffering significant financial distress since 2014 following a year of coronavirus disruption. The latest Red Flag Alert produced by insolvency specialists Begbies Traynor measured a jump of 93,000 firms in the first quarter of 2021, a period that took in the…

Diamonds: Investigation into bankruptcy of former industry number one – The Brussels Times

Diamonds are forever. Diamond dealers, not so much. Swamibu/Wikimedia The Antwerp prosecutor has started an investigation into the mysterious bankruptcy of the company that formerly stood in first place among the citys diamond dealers. Eurostar Diamond Traders, owned by the family of 71-year-old Kaushik Mehta, was at one point the diamond citys major trader in…

A bankrupt cooperative from Alicante and its subsidiary owe its 175 workers 4,000,000 – FreshPlaza.com

According to the reports sent to the commercial court number 2 of Alicante by the bankruptcy administrator of the Agricultural Cooperative of Altea, which started its insolvency procedures on February 13, 2020, and was declared bankrupt on February 11, 2021, the cooperative and its Villaranja subsidiary have debt amounting to 28 million euro, 4 million…

No surge in business failures at height of the pandemic, but that’s changing – Crikey

Tweaks to insolvency rules during the COVID-19 pandemic produced a strange phenomenon a recession without soaring company wind-up numbers. That’s all set to change. (Image: AAP/Private Media) Among the many good pieces of policy introduced during the pandemic was a very accommodating set of rules around insolvencies. It was very difficult indeed for a company…