The number of new businesses set up in Wales rose by 25.3% in July 2025 compared to the same month last year, while insolvency-related activity in the region fell by 19.7% over the same period, according to new research from R3, the UK’s restructuring, turnaround and insolvency trade body.
R3’s analysis of data provided by Creditsafe shows that 2,035 new businesses were set up in Wales in July – a 25.3 % increase from July 2024’s total of 1,624.
Over the same period, the number of insolvency-related activities – which includes liquidator and administrator appointments and creditors’ meetings – fell from 71 to 57, a 19.7% drop.
Bethan Evans, Chair of R3 in Wales, says: “These figures suggest growing confidence in…
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Queensland developer Con Bassili is again under financial pressure, with multiple companies tied to him and long-time business partner George Cheihk now in administration or liquidation, carrying debts of more than $40 million.
Bassili, 55, a former bankrupt, is a shareholder in Queensland Developments Payroll, which went into voluntary administration last year owing $5.4 million.
The company was rescued through a deed of company arrangement requiring creditors to be paid around 52 cents in the dollar, with millions still due by September 19.
Another venture, Budamba Property Holdings, collapsed in June owing more than $28 million after a NSW Supreme Court wind-up order.
Liquidator Bruce Gleeson has since lodged…
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Subsea Services Limited is listed as a company that deals with “engineering related scientific and technical consulting activities.”
But a resolution to voluntarily wind up the firm was passed during a meeting at the company’s office on 20 Bracken Road, near Duloch Park.
Steven Wright, Licensed Insolvency Practitioners were appointed as liquidators on July 15.
Liquidation is the process of closing a limited company, selling the assets to pay off debts and dissolving the company from the official register at Companies House.
In short it will stop doing business and employing people, although only one person worked for Subsea as off March last year.
In general terms liquidation is the process a company…
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Entertainment company mm2 Asia on Sept 1 announced that Cathay Cineplexes will undergo voluntary liquidation.
The struggling cinema chain, which owes money to the landlords of several of its outlets, is unable to continue operating as a going concern, its parent company said.
“Cathay Cineplexes had attempted to negotiate amicable resolutions with the various creditors, but (it) was unable to arrive at mutually agreeable restructuring outcomes of its payment obligations owed to these creditors,” mm2 Asia said.
The board of Cathay Cineplexes will proceed with a creditors’ voluntary liquidation of the cinema chain, after determining that it is “no longer feasible” to continue operating as a going concern, the media company said.
An…
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Cathay Cineplexes to undergo creditors’ voluntary liquidation amid mounting debts The Online Citizen
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A crucial vote on Jon Adgemis’ proposed personal insolvency agreement has been pushed back to October 9, after his bankruptcy trustees adjourned last Friday’s creditors’ meeting without a resolution.
The embattled publican, who owes around $1.8 billion, had put forward a deal that would return creditors just 0.15 cents in the dollar, partly funded by a $3 million contribution from his mother and sister.
The Australian Financial Security Authority (AFSA) intervened, warning trustees Scott Pascoe and Benjamin Ho they risked fines of $39,600 or up to two years in jail for failing to conduct adequate investigations or meet communication standards.
AFSA’s inspector-general Neville Matthew said the trustees’ handling…
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REVEALED: Latest business liquidations in Brisbane The Courier Mail
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Martine McCutcheon ‘declared bankrupt’ just months after heartbreaking split from husband MSN
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SL will go bankrupt again in 2028: Sajith Daily Mirror – Sri Lanka
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SL will go bankrupt again in 2028: Sajith Daily Mirror – Sri Lanka
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