The Insolvency and Bankruptcy Board of India (IBBI) has tightened disclosure requirements for insolvency professionals, mandating them to include “comprehensive details” of carry forward of losses in the information memorandum prepared during the corporate insolvency resolution process (CIRP).

This enhanced disclosure framework is intended to provide potential resolution applicants with more comprehensive understanding of a corporate debtor’s (CD) financial position, enabling them to develop more informed and viable resolution plans while considering the benefits of losses carried forward, the IBBI said in a release issued on Monday.

Information memorandum (IM), a key document in the CIRP, is prepared by insolvency…

Some 393 companies were forced to wind up in February across England and Wales – the highest monthly number since September 2014, the Insolvency Service said.

Compulsory liquidation is when a firm is ordered to shutter by a court because it is unable to pay its debts.

Meanwhile, the number of overall companies closing down fell 7% compared to the same month last year, at 2,035.

That figure, however, includes firms that have chosen to shutter, rather than being forced to stop trading because of having run out of money.

There were 1,520 creditors’ voluntary liquidations, 115 administrations and seven company voluntary arrangements.

The numbers come ahead of a crunch moment for companies in April, when tax and minimum wage increases…

The latest company insolvency statistics, published today (18 March), show accommodation and food services insolvencies also rose 3% when compared to the same month last year (January 2024: 265 insolvencies).

However, in the 12 months to January 2025 insolvencies fell 7%, from 3,747 to 3,474.

Commenting on the figures, Saxon Moseley, partner and head of leisure and hospitality at leading audit, tax and consulting firm RSM UK, says the number of hospitality insolvencies recorded in January is ‘not as bad as feared’.

“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,” he says.

“While some operators managed to weather the storm at…

The latest company insolvency statistics, published today (18 March), show accommodation and food services insolvencies also rose 3% when compared to the same month last year (January 2024: 265 insolvencies).

However, in the 12 months to January 2025 insolvencies fell 7%, from 3,747 to 3,474.

Commenting on the figures, Saxon Moseley, partner and head of leisure and hospitality at leading audit, tax and consulting firm RSM UK, says the number of hospitality insolvencies recorded in January is ‘not as bad as feared’.

“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,” he says.

“While some operators managed to weather the storm at…

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….