New business starts-ups and insolvency-related activity had both fallen across the UK and in Yorkshire and the Humber last month, according to the latest research from the UK’s insolvency and restructuring trade body, R3.

The findings, based on an analysis of data provided by Creditsafe, show an 18% decline in insolvency-related activity in the region in April, while the rate of new business start-ups saw a 9% drop in the same month.

Insolvency-related activity, which includes liquidator and administrator appointments and creditors’ meetings, rose in the North East (by 7%) and in Wales and the North West (by 4%) but fell in every other UK region, with the South West seeing the largest fall,…

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The National Company Law Appellate Tribunal (NCLAT) has dismissed an insolvency petition against PepsiCo India Holdings after observing that provisions of IBC cannot be turned into a debt-recovery proceeding.

The appellate insolvency tribunal has upheld the earlier order passed by the Chandigarh bench of the National Company Law Tribunal (NCLT), which had rejected SNJ Synthetics’s plea.

“The adjudicating authority (NCLT) has not committed any infirmity in not allowing the CIRP of the corporate debtor [PepsiCo] to be initiated solely on the basis of the claim of the…

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After 355 years, beginning as a fur trading company incorporated by King Charles II, the end of Canada’s oldest retailer is fast approaching.

Hudson’s Bay Company is expected to shutter all of its department store locations by June 2025, marking the final phase of a nationwide liquidation process that began in late March.

In late April, the company confirmed it would close the last six stores that had initially been exempt from the first round of closures, including the heritage flagship stores in downtown Toronto and downtown Montreal, as well as Yorkdale Shopping Centre in Toronto, Hillcrest Mall in Richmond Hill, CF Carrefour Laval mall, and CF Fairview Pointe-Claire mall.

According to…

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Three-quarters of Younger Veterans with Debt are Still Paying off Amounts Incurred While Serving

NEW YORK, May 12, 2025 /PRNewswire/ — National Debt Relief, the industry leader in debt settlement known for its unique approach to debt relief, today released the findings of a powerful new study revealing that many U.S. veterans face mounting debt, financial instability and emotional strain as they transition to civilian life. Conducted in partnership with Wakefield Research, the study polled 1,000 U.S. veterans ages 21 and older who are no longer in military service, offering a sobering look at the challenges faced after service.

By Michael Gryboski, Editor Monday, May 12, 2025

A predominantly African American megachurch that has existed since the early 19th century has donated approximately $132,000 to relieve the debts of 11 graduating college seniors.

Alfred Street Baptist Church of Alexandria, Virginia, which was founded in 1803 and presently boasts around 10,000 members, donated $132,469 to eliminate the college debt of 11 graduates of Saint Augustine’s University.

The donation was given before the May 3 commencement, with representatives of Alfred Street Baptist attending the graduation service,…

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Reacon Australia has been placed into liquidation following a ruling by the Federal Court on Friday 9 May.

The administrators for the business, Simon Cathro and Andrew Blundell from Cathro & Partners have been appointed as the liquidators for the business.

“On Friday, the Federal Court wound up Reacon Group following a petition received from creditors and as a result Simon and I were then appointed liquidators,” Blundell told Sprinter.

“In our role as liquidators for Reacon Australia, we are currently assessing the legal position of the company following the orders from last Friday. In the meantime, we will be continuing to trade while we seek legal advice in relation to what is now further required,”…

A sex trafficker who duped Chinese women into travelling to Scotland and forcing them into prostitution made more £2 million from his life of crime, a court has heard.

Jagpal Singh,55, obtained a total of £2,688,927.46 from criminal activities, judge Lord Summers heard on Monday.

He was given a 10 year jail term in September 2022 after proceedings at the High Court in Glasgow.

He teamed up with his partner Donglin Zhang,51, and Albanian Vlassis Ntaoulias,35, to set up a network of brothels across Glasgow.

The trio were joined by Thai citizen Boonsong Wannas, 62, who helped them bring in women from Asia – these females were forced to provide sex services from August 2018 to February 2020.

Their business came crashing down after police…