Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Today’s company insolvency statistics show accommodation and food services insolvencies fell 7% from 3,747 in the 12 months to January 2024 to 3,474 in the 12 months to January 2025.
However, insolvencies in the sector increased 21% month-on-month, from 225 in December 2024 to 273 in January 2025, and were up 3% when compared to the same month last year (265).
Saxon Moseley, partner and head of leisure and hospitality at leading audit, tax and consulting firm RSM UK, said, “Hospitality trade at the start of the year was particularly tough, so the rise in insolvencies in January was expected, but perhaps not as bad as feared.
“While some operators managed to weather the storm at the end of last year to maximise trade during the…
While the future of the Hudson’s Bay Company remains uncertain, its Langley location offered signs Monday (March 17, 2025) of impending closure. The atmosphere inside the store reflected dwindling inventory and bare shelves. Cases once filled with watches were now empty, cosmetics counters were unattended, and employees revealed some unsettling news to customers, stating, “We haven’t received new stock for months.” This unsettling detail points to potential operational issues.
Further signs pointing to closure included green inventory tags on several fixtures, signaling uninventoryable stock, signaling lack of interest from the corporate side. “DNI” or Do Not Inventory stickers also appeared, hinting…
Financial information company Experian is using the NCAA basketball tournament to promote financial literacy and the importance of managing debt with the help of Louisiana State University women’s basketball star and rapper Flau’jae Johnson.
As part of the campaign, the company announced it would relieve $5 million of consumer debt for 5,000 families in Louisiana and contribute another $100,000 toward consumer debt relief (up to $500,000) for every LSU victory in the NCAA Women’s basketball tournament.
Consumer debt is one of the greatest obstacles to building credit and financial stability, and Louisiana is one of the states with the highest percentage of poverty in the U.S., according to the U.S. Census Bureau….
Debt management isn’t always the best option — but it can provide big relief to the right type of cardholders.
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When credit card bills start piling up, the weight of that debt can put a lot of pressure on your budget, especially if you’re already struggling to keep up with your regular expenses. But if you’re growing frustrated with your credit card debt, you’re certainly not alone in the struggle. The average cardholder now carries nearly $8,000 in credit card debt, and with credit card interest rates hovering close…
In an unexpected twist, companies are increasingly finding themselves entangled in legal disputes with their vendors. Suppliers and vendors are turning to insolvency petitions over payment delays as a legal tool to recover dues.
This comes at a time when companies like Zomato and Ola Electric have been served insolvency petitions by its vendors.
According to news report, B2B apparel manufacturer Nona Lifestyle has approached the NCLT to initiate the corporate insolvency resolution process (CIRP) against Zomato over alleged non-payment of ₹1.64 crore for supplied uniforms and merchandise, including ICC World Cup 2023 apparel.
Ola Electric is facing a financial dispute after Rosemerta Digital, and Rosemerta Safety Systems filed an…
New Delhi: The Insolvency and Bankruptcy Board of India (IBBI) has told debt resolution professionals to be more open about bankrupt companies’ past losses that can be carried forward, helping attract fresh investments into the company.
The idea is that greater disclosures about ‘carry forward’ of past losses, which will lower future tax liability of the company, could result in more viable debt resolution plans.
In an order issued late on Monday, IBBI told professionals that in their notices inviting bids, they should have a separate section showing the extent of carry forward of past losses available to the entity.
The regulator said that based on its review of notices inviting bids for bankrupt companies it felt disclosures…
Scotland witnessed a 10% increase in company insolvencies in February 2025 compared to the same month in 2024, with 103 businesses entering insolvency.
This figure comprised 60 Creditors’ Voluntary Liquidations (CVLs), 38 compulsory liquidations, and five administrations. There were no Company Voluntary Arrangements (CVAs) or receivership appointments.
The 12-month insolvency rate to February 2025 stood at 51.6 per 10,000 companies on the effective register, a slight decrease of 1.2 from the previous year.
Junior Canadian Ranger Nova Gull in front of the abandoned Hudson’s Bay Company trading post at Lake River in Polar Bear Provincial Park.
credit: Canadian Rangers
Hudson’s Bay seeks court approval for full liquidation as financial struggles push the retailer to the brink
TORONTO, ON – The future of Hudson’s Bay hangs in the balance as the embattled retailer awaits a court decision on its request to begin liquidating all 80 of its Canadian stores, along with Saks Fifth Avenue and Saks Off 5th locations it operates under a licensing agreement.
During a Monday hearing at Ontario Superior Court, lawyers for Hudson’s Bay urged Justice Peter Osborne to approve the liquidation, arguing that the company needs…
