Leipzig-based Heiterblick, a tram manufacturing company, has filed for insolvency despite having full order books. The company, which employs 250 people, is struggling with increased raw material costs, making it unprofitable to fulfill long-term contracts at previously agreed prices.

This issue is not unique to Heiterblick; many companies with viable business models are facing similar challenges due to inflation, disrupted supply chains and tariffs. According to Creditreform, corporate insolvencies are rising, particularly affecting midsize companies that form the backbone of Germany’s export economy. Heiterblick views the insolvency as an opportunity to renegotiate contracts and stabilize the company, preserving engineering…

The government has confirmed that support with Woking BC’s debt will be provided for any new authorities as part of local government reorganisation in Surrey.

Woking issued a section 114 in June 2023 and commissioners were appointed in December. The district had a debt of £1.9bn, while its revenue budget was just £16m.

Woking BC’s papers confirmed that the government is “committed to providing an initial tranche of financial support for debt repayment for Woking in 2026-27, ahead of the implementation of re-organisation in Surrey”.

It added: “The government accepts that Woking BC holds significant unsupported debt that cannot be managed locally in its entirety”.

This financial support is intended to aid the “rationalisation of Woking’s…

Andrea Pirlo had to block his son’s ban account in 2022, as the then teenager amassed gambling debts of €30k in illegal online scheme.

Leipzig-based Heiterblick, a tram manufacturing company, has filed for insolvency despite having full order books. The company, which employs 250 people, is struggling with increased raw material costs, making it unprofitable to fulfill long-term contracts at previously agreed prices.

This issue is not unique to Heiterblick; many companies with viable business models are facing similar challenges due to inflation, disrupted supply chains and tariffs. According to Creditreform, corporate insolvencies are rising, particularly affecting midsize companies that form the backbone of Germany’s export economy. Heiterblick views the insolvency as an opportunity to renegotiate contracts and stabilize the company, preserving engineering…

The UK saw a modest decline in corporate insolvencies in 2024, offering a glimmer of hope for businesses grappling with ongoing economic pressures. Official figures from the Insolvency Service revealed 23,872 registered company insolvencies during the year—a 5% drop from the 25,163 cases recorded in 2023, which marked the highest annual total since 1993.

Key corporate insolvency figures are:

• Total Insolvencies: 23,872 (down 5.1% from 2023)
• Creditors’ voluntary liquidations (CVLs): 18,840 (down 8% from 2023)
• Compulsory liquidations: 3,230 (up 14%, highest since 2014)
• Administrations: 1,597 (up 2%)
• Company voluntary arrangements (CVAs): 202 (up 9%)
• Receivership appointments: 3

Despite the decline,…

Now is a good time to learn about this new legislation, says Andrew Taylor

The Corporate Insolvency and Governance Bill will be the biggest reform of the UK’s restructuring and insolvency framework in more than 15 years. For the hospitality sector, it is welcome news, giving bars and restaurants some options to help them to survive a period of unprecedented economic hardship. So, what are the changes and which businesses are eligible?

How to obtain a moratorium

A moratorium is a temporary suspension of an activity, in this case, the repayment of debts. For hospitality companies that are struggling financially, a 20 business-day moratorium will give them the chance to restructure or seek new investment without creditors taking…

Struggling pharmacy chain Rite Aid is once again facing money woes, forcing the company to file for bankruptcy again.

According to a court filing, the company filed for bankruptcy protection for the second time in just two years. The company “was unable to secure additional capital from lenders that was needed to continue operating the business,” Bloomberg reported, citing a letter from CEO Matthew Schroeder.

Rite Aid used its 2023 bankruptcy to cut $2 billion in debt, shut hundreds of stores, sell its pharmacy benefit company Elixir, and negotiate settlements with creditors, including McKesson. That process also resolved lawsuits “alleging that Rite Aid ignored red flags when filling suspicious prescriptions for addictive opioid…

The Trump administration has introduced a controversial new program aimed at illegal immigrants, offering a $1,000 stipend and travel assistance for those who choose to voluntarily “self-deport” from the United States. Announced on May 5, 2025, by the Department of Homeland Security (DHS), this initiative is part of a broader strategy to expedite deportations and reduce costs associated with the deportation process.

According to the DHS, the stipend and potential airfare for migrants who opt for this self-deportation route will be significantly cheaper than traditional deportation methods. Currently, the average cost of arresting, detaining, and deporting an individual without legal status is around $17,000. By…

As one of vinyl’s most beloved subscription services shuts down, smaller players may be feeling the pressure too.

The end of Vinyl Me, Please

Denver-based record club, Vinyl Me, Please (VMP), has announced it is entering liquidation. The record club built a loyal subscriber base with its exclusive and carefully created selections, some of whom were paying as much as $654 a year for the highest-tier membership. But now, many long-time members are left without records, refunds, or answers.

For months, VMP subscribers complained of unfulfilled orders, lack of refunds, unresponsive support, and ongoing membership charges despite a lack of product deliveries. Some subscribers say they are owed over $1,000 in pre-orders…