BUSINESSES are struggling to repay Bounce Back Loans (BBLs) five years after the pandemic, a Bournemouth-based insolvency practitioner has said.

These loans, introduced by the Government in May 2020, were crucial for many during the Covid 19 crisis.

However, for some, the repayment journey has been tough.

Elaine Wilkins, director at Antony Batty and Company Licensed Insolvency Practitioners, said: “The Bounce Back Loan scheme was a vital support during the pandemic, but five years on, we are seeing many local businesses struggling to meet repayment obligations.”

READ MORE: Vikki Slade urges public to ‘Buy Dorset’ amid US tariffs

Government data shows more than 1.4 million businesses borrowed a total of £46 billion through the BBL…

The National Company Law Tribunal (NCLT) has directed that the resolution plans to acquire Jaiprakash Associates through the insolvency process should be invited for the entire company as a going concern and not by dividing its different business verticals.

NCLT has said ‘Form G’ published by the resolution professional of JAL inviting Expression of Interest (EOI) from prospective buyers “by giving two options at the threshold and the…

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.

A Christchurch company running a panel shop repairing motor vehicles has gone under owing just over $600,000 in unpaid staff payments, tax and other bills.

NZ Panel under shareholder and director Warnakulasuriya Dilanka Niroshan Fernando was placed in liquidation on April 3.

The total estimated shortfall is thought to include about $10,000 owed in staff wages and holiday pay, $300,000 in unpaid bills to the Inland Revenue Department (IRD) and $300,000 owed to unsecured creditors.

Insolvency Matters’ insolvency practitioner Brenton Hunt filed the first liquidators’ report on April 8.

The initial report said NZ Panel had gone into insolvency because it had been struggling with working capital for some time.

The company’s core…

Rams Logistics was placed into liquidation last month after court proceedings.

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(OSV News) – In a world economy rocked by the whiplash of American trade tariffs that has spared few countries, the U.S. Conference of Catholic Bishops and Jubilee USA Network, an interfaith development group, have a proposition for President Donald J. Trump: Forgive some debts.

In a joint letter dated April 8, the two organizations wrote Trump, encouraging him to build on global debt relief efforts from his first term.

According to the United Nations, the external debt — money owed to foreign creditors — of developing countries has quadrupled in two decades to a record $11.4 trillion in 2023, equivalent to 99% of their export earnings.

“Debt relief and restructuring make effective economic and security policy, strengthening our…

Zomato’s parent Eternal announced that its step-down subsidiary in the Netherlands, Zomato Netherlands, has initiated its liquidation process

Zomato Netherlands’ turnover was nil in FY24, while its net worth stood at INR 32 Lakh. The liquidation of the subsidiary is expected to be completed within one year

With this, Zomato has effectively shut down nearly all of its international subsidiaries

Marking its first disclosure post adopting the name Eternal on the bourses, Zomato’s parent Eternal announced that its step-down subsidiary in the Netherlands, Zomato Netherlands, has initiated its liquidation process.

In an exchange filing, the company said that Zomato Netherlands is not a material subsidiary…

According to their first liquidators report, Wilson Barbecue was placed into liquidation due its inability to meet its current debt levels as they fell due.

“The company’s insolvency resulted from the current economic environment in the food retail industry, which led to diminishing cash flow,” the liquidators said.

Inland Revenue is owed $644,192, however, the liquidators said they expect that figure to increase as it doesn’t include interest and penalties.

The company had 15 staff prior to its liquidation. While all wages have been paid, $17,781 is owed in holiday pay entitlements.

There are also about 75 unsecured creditors owed $297,372.

Creditors include ANZ, Coca-Cola Amatil (NZ), Contact…