Brexit uncertainty and struggling high street retailers have fuelled a rise in the number of company administrations to the highest level in five years, according to official figures. The Insolvency Service said there were 451 administrations in the first three months of the year, up 21.8% from the final three months of 2018 and the…
Manoj Gaur just wont let go of Jaypee Infratech Ltd. even as lenders vote on a bid for the insolvent developer. And he hopes to derail the process with the help of people his company abandoned: homebuyers. About 25,000 buyers are waiting for apartments in the Jaypee Greens Wishtown project in Noida that the debt-ridden…
Philip Greens Arcadia Group is offering to pay for an adviser to its landlords as the retailer battles for their backing on its plan to avoid collapse through a complex restructuring of its store estate. The fashion company, which owns chains from Topshop and Topman to Dorothy Perkins and Wallis, wants to cut its sprawling…
A South Yorkshire catering and mobile food delivery business has ceased trading after being declared insolvent. Acorn Fine Foods, trading as Peckish, who ran routes around the Doncaster area, has taken its vans off the road alongside ceasing food production at its catering facility in Carcroft. It employed ten people. The proposed Liquidator,…
Image copyright PA Image caption Stephen Coxen had denied the rape charges against him and the case was found not proven in a criminal court A man successfully sued for rape in a civil court in Scotland has declared himself bankrupt – meaning he cannot pay damages to his victim. Last October a sheriff ruled…
(Adds reaction, graphics) By Andy Bruce LONDON, April 30 (Reuters) – The number of companies falling into financial distress in England and Wales rose in early 2019, adding to signs that businesses struggled in the run-up to the original March Brexit deadline, official data showed on Tuesday. There were 4,187 company insolvencies in the first…
Distress signal: construction, admin and retail are all seeing greatest number of insolvencies Small business insolvency rose by 6.3pc in the first three months of 2019 compared with the previous quarter. There were 4,187 company insolvencies between January and March this year, according to The Insolvency Service. Construction, administration and retail sectors all struggling with…
The former One Nation senator Rodney Culleton and Huw Kingston, the independent challenging energy minister Angus Taylor in the New South Wales seat of Hume, have blasted the Australian Electoral Commission for failing to investigate the potential ineligibility of Clive Palmers United Australia party candidates. Kingston, whose UAP opponent in the seat south of Sydney…
Perth mining boss Michael Fotios has been declared bankrupt after a long-running battle with the Australian Taxation Office. The Federal Court ordered yesterday his estate be sequestrated under the Bankruptcy Act, after an application by the Deputy Commissioner of Taxation. Mr Fotios declined to comment. The bankruptcy will automatically disqualify him from being a director,…
According to The Insolvency Service, the fall was largely driven by a decrease in the number of individual voluntary arrangements (IVAs), though both debt relief orders (DROs) and bankruptcies fell slightly from Q4 2018. In all, there were 115,319 personal insolvencies in 2018. The quarter-on-quarter decrease in total individual insolvencies in the first quarter of…