CTD Tiles goes into administration and closes 56 of its outlets. The company’s administrators stated that 268 employees were laid off as a result of the failure. Despite the huge number of retail closures, rival Topps Group purchased 30 CTD Tiles locations and two distribution sites in a rescue plan. Topps Tiles has purchased CTD…
Derby-based dance company Déda has announced it is entering voluntary insolvency after “enduring significant financial pressures” since the onset of Covid, making it “impossible to continue” operations in its current format. Founded in 1991, the Arts Council England-funded charity runs a dance and movement venue and is co-producer of the annual Derby Feste festival, which…
Sunright Limited (SG:S71) has released an update. Sunright Limited has completed the liquidation of its wholly-owned subsidiary, KES Systems & Service (Shanghai) Co., Ltd., with the subsidiary’s business license revoked in March and the process finalized in August 2024. The company assures stakeholders that this move will not materially affect its net tangible assets or…
Operational creditors continue to get little of insolvency proceeds MSN Read the original article here
Experts responds to July 2024 insolvency statistics NationalWorld Read the original article here
More than 47,000 UK companies are on the brink of collapse after a 25% jump in the number of businesses facing “critical” financial distress in the final three months of 2023, according to a report. It marks the second consecutive quarter-on-quarter period when critical financial distress has risen by a 25%, the latest “Red Flag”…
Invitae gets court approval for five-month bankruptcy sale Reuters Read the original article here
Tax debt has emerged as one of the biggest drivers of corporate insolvencies over the past year, with the latest data from Alares Insights showing April tracked at 50 per cent higher than pre-COVID levels. According to Patrick Schweizer, author of Alares Monthly Credit Risk Insights, there has been a sharp increase in the number of companies seeking…
R3 responds to July 2024 insolvency statistics Insider Media Read the original article here
Companies associated with Du Val Group, a developer of large-scale residential property projects in Auckland, have been placed into statutory management by the Government under the Corporations Act. The group, founded by developers Kenyon and Charlotte Clarke, was placed into receivership earlier this month by the Financial Markets Authority. In a statement on the Government’s…