A record number of people turned to debt relief orders (DROs) in August to ease their financial struggles, Insolvency Service figures show.

In total, the number of people going financially insolvent across England and Wales jumped by 16% in August compared with the same month a year earlier, according to Insolvency Service figures.

Some 11,348 people entered insolvency in England and Wales in August, which was also 7% higher than the total in July this year.

The insolvency total was made up of 4,239 debt relief orders (DROs), 622 bankruptcies and 6,487 individual voluntary arrangements (IVAs).

The number of DROs taken out in August 2025 was a record high in the monthly records going back to their introduction in 2009, the…

Construction insolvencies increased slightly in July compared with June, although the rate was lower than 12 months ago, according to the latest official statistics.

Insolvency Service figures show 332 construction companies went into administration or liquidation in July – up 2.5 per cent on the previous month’s total of 324 but down 3.5 per cent on July last year.

The data, released this morning (19 September), covers company insolvencies for August, but sector-specific data lags by one month, so the construction data was only updated for July.

The figures reveal that the construction sector lost 3,973 firms to insolvency in England and Wales during the 12 months to August 2025. 

This tally is more than any other sector, accounting…

Manchester United took on an extra £105m of debt to help fund their summer transfer spending, taking the amount they now owe to almost £1.1bn.

United released club accounts up to 30 June 2025 on 17 September.

More detailed information was then released to the New York Stock Exchange on 18 September when the club outlined some of their business after the initial reporting date.

United say they spent £167.8m on new players after 30 June. They signed Bryan Mbeumo from Brentford on 21 July, Benjamin Sesko from RB Leipzig on 9 August and Senne Lammens from Royal Antwerp on 1 September. They had already signed Brazil forward Matheus Cunha from Wolves for £62.5m in June.

In the latest financial statement, the club confirmed their debt was…

The federal disability minister says his concerns about the financial state of the country’s second-largest employer of people with a disability have grown.

According to its website, Bedford provides services to more than 1,500 people with a disability across South Australia. But the company aired concerns it would need to enter voluntary administration in July.

The state government stepped in with a $15 million lifeline, in exchange for ownership of a supported accommodation in Adelaide’s inner South.

While the disability provider avoided administration, advisory firm McGrathNicol was appointed to work with Bedford on a restructure.

Today’s company insolvency statistics show accommodation and food services insolvencies rose again, this time by 5% (up on the 4% rise last month) from 306 in June 2025 to 327 in July 2025, equalling the highest monthly figure since November 2024.

Year-on-year insolvencies were also up from 323 in July 2024.

It also represented the third consecutive monthly rise – a milestone not surpassed since prior to the current data-set’s starting point in January 2022.

Saxon Moseley, partner and head of leisure and hospitality at leading audit, tax and consulting firm RSM UK, said: “The continued uptick in insolvencies is a worrying trend, but one we have been forecasting for several months now.

“The leisure and hospitality…

Could data centers and the power grid be America’s next “renaissance?” With the U.S. national debt exceeding $37 trillion and interest payments surpassing defense spending, many articles have been written about the “debt doomsday” event coming. Such was a point we made in “”

“In recent months, much debate has been about rising debt and increasing deficit levels in the U.S. For example, here is a recent headline from CNBC:”

“The article’s author suggests that U.S. federal deficits are ballooning, with spending surging due to the combined impact of tax cuts, expansive stimulus, and entitlement expenditures. Of course, with institutions like Yale, Wharton, and the CBO warning that this trend has pushed interest…

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Failed premium appliance company Kitchen Things’ Napier and Nelson stores will be permanently closed down this weekend.

Kitchen Things – aside from its independent Hamilton store – entered administration and receivership in August amid mounting losses due to weak consumer demand and competition.

Receivers Grant Thornton said all stock would be made available below cost.

Receiver Stephen Keen of Grant Thornton said the receivership sale continued for stores in Auckland, Christchurch, Tauranga and Wellington, with products at these locations being sold at cost.

“It’s unfortunate there has been a lack of interest in the Napier and Nelson stores, but we remain optimistic the other…

The figure was comprised of 47 creditors’ voluntary liquidations (CVLs), 43 compulsory liquidations, and five administrations. The overall insolvency rate for the 12 months to August 2025 also saw a slight improvement, falling to 51 per 10,000 active companies.

Michelle Elliot, restructuring advisory partner at FRP in Glasgow, said: “While a fall in insolvencies is positive, operating conditions remain incredibly challenging.