Corporate insolvencies in the UK increased by 2.9% in February 2025 to a total of 2,035, up from 1,978 in January, according to the latest figures from the Insolvency Service. However, this represents a 7% decrease from February 2024, when 2,188 businesses entered insolvency. Compared to February 2023’s total of 1,964, insolvencies have risen by 3.6%.
After seasonal adjustment, the number of registered company insolvencies in England and Wales was 2,035, marking a 3% increase from January but remaining 7% lower than the previous year. Despite the drop from 2024 levels, insolvencies continue to be high relative to historical standards, reflecting ongoing financial strain on businesses across multiple sectors.
In February…
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The Insolvency and Bankruptcy Code (IBC) has played a pivotal role in resolving corporate distress, with as many as 40,943 applications filed under the law since its inception in 2016. Of these, a significant 28,818 applications amounting to a total claim of Rs 10 lakh crore were resolved even before formal admission, Union Minister of State for Corporate Affairs Harsh Malhotra informed the Lok Sabha on Monday.
The minister emphasized that the introduction of IBC has been a game-changer for India, helping the country improve its global insolvency resolution ranking by 56 places from 108 in 2018 to 52 in 2019 before the World Bank discontinued its Doing Business Report in 2021.
Among…
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Sharvain Facades goes into voluntary administration MSN
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Sharvain Facades goes into voluntary administration MSN
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By Emily Lever · March 18, 2025, 8:53 PM EDT
In its second bankruptcy in six years, fast-fashion chain Forever 21 is winding down and plans to close more than 300 U.S. stores, and has disclosed more than $1 billion in…
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Katie Price says both her bankruptcies have been discharged MSN
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While some markets, including Australia, Singapore, and Japan, may see a moderation in insolvencies in 2025, other economies – such as Taiwan (8%), South Korea (3%), and Hong Kong (2%) – are expected to continue experiencing increases, primarily due to subdued trade demand and prolonged financial pressures.
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Electric two-wheeler maker Ola Electric is facing a major legal and financial crisis as Rosmerta Digital Services and Rosmerta Safety Systems, two of its largest vehicle registration partners, have filed two insolvency petitions against its subsidiary, Ola Electric Technologies Pvt. Ltd. The dispute, over unpaid dues, has reached the National Company Law Tribunal (NCLT), putting Ola in the crosshairs of regulators and investors.
The NCLT case is significant, not only because it involves critical operational partners, but also due to how Ola Electric initially disclosed its relationship with Rosmerta.
In February 2025, Ola Electric, in a filing to stock exchanges, announced that it was renegotiating contracts with its vehicle registration…
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KUALA LUMPUR: A total of 5,272 youths below the age of 34 have been declared bankrupt from 2020 to this year, according to Youth and Sports Minister Hannah Yeoh.
She said that of the total, 5,189 were aged between 25 to 34, while 83 others were below 25.
“The trend of bankruptcy among youths shows an increase, with 877 cases recorded in 2024, which is 150 cases higher than the 727 cases recorded in the previous year.
“According to the Insolvency Department’s records, the main cause of bankruptcy cases in 2024 was personal loans, which accounted for 2,776 cases or 46.4 per cent of the total 5,977 bankruptcy cases,” she said in reply to Senator Roderick Wong Siew during Question Time at the Dewan Negara sitting today.
The senator…
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Reality star Katie Price has said that both of her bankruptcies have been discharged.
The former glamour model, 46, who has fronted various Channel 4 and BBC documentaries about her life, was declared bankrupt for a second time last year over an unpaid tax bill worth more than £750,000.
Her first bankruptcy from 2019 was discharged earlier this year, after a hearing at the Insolvency and Companies Court.
A representative for Ms Price confirmed to the PA news agency on Tuesday that the second bankruptcy has been discharged.
Ms Price told The Sun: “I’m so happy. I can finally move on and put these bankruptcies behind me and now only focus on the positive.
“Thank you to everyone that has supported me through this process.”
Her solicitor…
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Reality star Katie Price has said that both of her bankruptcies have been discharged.
The former glamour model, 46, who has fronted various Channel 4 and BBC documentaries about her life, was declared bankrupt for a second time last year over an unpaid tax bill worth more than £750,000.
Her first bankruptcy from 2019 was discharged earlier this year, after a hearing at the Insolvency and Companies Court.
A representative for Ms Price confirmed to the PA news agency on Tuesday that the second bankruptcy has been discharged.
Ms Price told The Sun: “I’m so happy. I can finally move on and put these bankruptcies behind me and now only focus on the positive.
“Thank you to everyone that has supported me through this process.”
Her solicitor…
Read the original article here
Northvolt, the Swedish battery manufacturer with plans to build a $7-billion factory in Quebec, has declared bankruptcy in Sweden.
The company said in a media release that the decision to declare bankruptcy was taken after “an exhaustive effort to explore all available means to secure a viable financial and operational future for the company.”
Northvolt has “experienced a series of compounding challenges in recent months that eroded its financial position, including rising capital costs, geopolitical instability, subsequent supply chain disruptions, and shifts in market demand,” the release says.
The company says its North American operations are solvent.
Now, a court-appointed trustee will determine the future of Northvolt’s businesses…
