Debt can impact anyone at anytime and everywhere, a charity leader has said.

Alison Berry, from Christians Against Poverty (CAP) in Windsor, said: “Sadly, the need for free face-to-face personal debt advice has really increased.”

The charity has opened a new debt centre at Kerith Community Church in Dedworth Road to provide support to those who need it.

CAP was founded in 1996 and specialises in debt counselling for people in financial difficulty as well as free advice and practical support.

Ms Berry explained even in affluent areas people were struggling and “debt exists everywhere, nobody is exempt”.

The charity partners with churches all over the UK to provide face-to-face support.

She said: “Hundreds of thousands of adults across…

German eVTOL developer Lilium (Oberpfaffenhofen) announced it filed for insolvency on February 21 after last-ditch funding options to secure its future did not materialise in time.

“While talks about alternative solutions are still ongoing, the chance for restructuring right now is highly unlikely, and therefore, operations will be stopped. Given the situation, this is deeply regretful for all employees, and Lilium Aerospace thanks them for their resilience and dedication,” the company said in a statement.

An investment consortium called Mobile Uplift Corporation GmbH had pledged more than EUR200 million euros (USD209 million) to help the company recover from its debtor-in-possession…

The Insolvency and Bankruptcy Board of India (IBBI) in its latest newsletter said that over the years since the introduction of the Insolvency and Bankruptcy Code (IBC), more companies are getting resolved, and the number of liquidations is going down.

“There is a visible trend reversal in the number of companies going into liquidation under the Code. While the liquidation process has undergone important course corrections over the years, there is scope for further improvement,” IBBI chairperson Ravi Mittal said.

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IBBI further said that in 2017-18, for every one case that was resolved, five companies would go into liquidation. In 2024-25, till December, IBBI data showed that for every one…

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About 350 jobs are expected to go across 26 stores as the Irish branch of fashion retailer New Look enters liquidation.

Impacted staff were notified after the High Court in Ireland approved the appointment of provisional liquidators last Thursday. New Look said further engagement is planned over the coming days.

The retailer is seeking to wind down its Irish operations following several years of “sustained losses and challenging market conditions”.

New Look employs a total of 347 people across its network in the Republic of Ireland.

The company, which…

Dorchester-based Acheson Construction has collapsed into administration. The company appointed Richard Lewis and Alistair Wardell of Grant Thornton as joint administrators on February 18.

Acheson, which has been involved in a host of local and regional building projects, had operated for more than 50 years and had another premise in Whiteley, near Fareham, Hampshire. The company ceased to trade on the appointment. It is understood that 40 of its 48 staff were made redundant as a result. According to the joint administrators, the retained staff are assisting them with winding down the company’s affairs.

Grant Thornton said that Acheson Construction had been hit by higher costs on fixed price…

The service sector was particularly affected, followed by the construction industry and trade. In trade, 1,199 insolvencies were registered, while business-related services recorded 1,091 and construction 1,062. The accommodation and food service sector was also badly affected with 827 bankruptcies. In contrast, the number of private insolvencies fell slightly by 1.0% to 9,634 proceedings.

Analysis of causes

Gerhard Weinhofer, Managing Director of Creditreform, attributes this development to several factors: “The multiple crises that have existed for years are claiming more and more victims among domestic companies.” He cites the tense economic situation in Germany, the most important trading partner, and high wage and energy…