But employees in the UK do have rights and routes to recover the money they are owed. If a company becomes insolvent, an appointed insolvency practitioner takes control. They are responsible for managing the company’s remaining money and assets, and for paying creditors where possible. Employees are classed as “preferential creditors,” meaning they are near the top…
Insolvency Service investigations into Basic Prime Limited discovered concerns that the company was involved in fraud The company, which claimed to be based in Croydon, had no genuine business presence, contact details not in operation, and a director who failed to provide information and documents that were requested Basic Prime Limited has been wound up…
König + Neurath AG, a century-old German office furniture manufacturer based in Karben, Hesse, has filed for self-administration insolvency at Frankfurt/Main District Court, affecting its 830 employees. The company will continue operations under trustees, aiming to restructure © König + Neurath AG…
A furniture retailer in Lustenau, Vorarlberg, has declared bankruptcy, leaving creditors with a payout of just 0.9 percent on nearly €1.9 million in recognised claims. The company, employing around ten staff, counted approximately 50 creditors, including the Austrian tax office and Health…
Value City Furniture will close its 9110 W. Broad St. store in Tuckernuck Plaza, western Henrico, in early January as part of American Signature’s Chapter 11 bankruptcy restructuring. The closure leaves the retailer with only one regional location at 1250 Huguenot Road…
M1 Sporttechnik’s 2026 shutdown underscores insolvencies in German industry Bike Europe Read the original article here
What the new Companies House identity verification framework means for insolvency professionals Dentons Read the original article here
High closure rate and insolvencies still plague retailers, study finds Inside Retail Australia Read the original article here
Understanding Bankruptcy Risk: Definition, Causes, and Mitigation Strategies Investopedia Read the original article here
On November 26, The Riga City Court issued a decision confirming that the insolvency petition submitted by SIA Ekis & Co-Positioning and Consulting against AS Delfi, a Latvian subsidiary of AS Ekspress Grupp, was unfounded. The court’s ruling dispels doubts raised in public and confirms that the petition had no factual or legal basis. AS…