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M/s Shri Ram Switchgears Limited (“Corporate Debtor”) was admitted into Corporate Insolvency Resolution Process (“CIRP”) on 29.02.2024. The Adjudicating Authority
Just in: the number of companies in England and Wales falling into insolvency dropped last month.
The InsolvencyService has reported that there were 2,043 registered company insolvencies in England and Wales in June, 8% lower than in May 2025 (2,230) and 16% lower than in June 2024, when 2,430 companies failed.
That could ease some concerns over the health of the UK economy, as companies tackle rising inflation and higher taxes.
A chart showing company insolvencies in England and Wales Photograph: The Insolvency Service
Despite the drop, monthly company insolvency numbers in the first six months of 2025 were slightly higher than the second half of 2024, but remain lower than the 30-year annual…
This week’s company insolvency statistics show accommodation and food services insolvencies rose 6% from 277 in April 2025 to 295 in May 2025, reaching the highest monthly figure since November 2024. Insolvencies in the sector were also up 4% year-on-year.
Saxon Moseley, partner and head of leisure and hospitality at RSM UK, said, “Today’s figures show the cost pressures and challenges faced by the hospitality industry are really starting to bite. Higher staff costs and rising inflation, combined with subdued consumer spending, means some operators are simply running out of runway. Many have reached their limit in passing on costs to customers and are currently in survival mode.
Scottish company insolvencies fell by 4% in June 2025 compared to the previous year, with 105 firms collapsing.
Experts have warned this may only be a temporary reprieve and a challenging economic climate.
The monthly total comprised 62 creditors’ voluntary liquidations, 37 compulsory liquidations, five administrations, and one company voluntary arrangement. Over the 12 months to June 2025, the insolvency rate was 51.6 per 10,000 active companies, a slight decrease from the preceding year.
Bruno Mars rounded off a recent surprise performance in Los Angeles with a tongue-in-cheek social media post, seeming to laugh off the longstanding rumours of his alleged gambling debts.
Appearing on stage alongside BLACKPINK’s Rosé at SoFi Stadium on July 13, the Grammy-winning artist joked on Instagram: “Almost out of debt BehhhhhBehhhhh!!! Preciate You ROSAAAAYYYYYY!!!!”
Mars’ comments humorously reference reports that first surfaced in 2023, which claimed the singer had amassed over $50 million in…
Just in: the number of companies in England and Wales falling into insolvency dropped last month.
The InsolvencyService has reported that there were 2,043 registered company insolvencies in England and Wales in June, 8% lower than in May 2025 (2,230) and 16% lower than in June 2024, when 2,430 companies failed.
That could ease some concerns over the health of the UK economy, as companies tackle rising inflation and higher taxes.
A chart showing company insolvencies in England and Wales Photograph: The Insolvency Service
Despite the drop, monthly company insolvency numbers in the first six months of 2025 were slightly higher than the second half of 2024, but remain lower than the 30-year annual…
The number of UK companies falling into insolvency dropped sharply in June, offering a moment of respite for businesses after months of economic turbulence.
But experts have warned that the decline may be only temporary, with ongoing pressures threatening a renewed wave of financial distress later this year.
According to the Insolvency Service, there were 2,043 registered company insolvencies in England and Wales in June 2025, down 8% from May (2,230) and 16% lower than June 2024 (2,430).
The drop in insolvencies may ease some concerns over the health of the UK economy, which continues to grapple with rising inflation, tax pressures, and a fragile global backdrop. But figures for the first half of 2025 show that insolvencies…
M/s Shri Ram Switchgears Limited (“Corporate Debtor”) was admitted into Corporate Insolvency Resolution Process (“CIRP”) on 29.02.2024. The Adjudicating Authority granted an extension of the CIRP up to 24.05.2025. Before the expiry of the timeline on 24.05.2025, the Committee of Creditors (“CoC”) in its meeting held between 09.05.2025 and 14.05.2025, resolved with 96.94% vote share to seek a 30-day extension and exclusion of 148 days due to delays caused by the replacement of Interim Resolution Professional (“IRP”). The Prospective Resolution Applicant (“PRA”) presented a revised resolution plan during this meeting, which required more time to complete formalities and compliance. On 21.05.2025, the CoC …
Beverley Callon says she lived in fear of bailiffs at her door – and wants more debt help services in communities
When Beverley Callon moved from Dorset to Huddersfield with her young son after a family breakdown, she hoped for a fresh start. Instead, the stress of mounting debt pushed her to the edge.
“I wasn’t eating, I wasn’t paying any bills. The rent wasn’t getting paid,” she says.
“I just didn’t know where to start.”
Beverley’s story is painfully familiar to thousands across Yorkshire.
As the cost-of-living crisis bites, Bradford-based debt advice charity Christians Against Poverty (CAP) warns of a silent epidemic of fear, shame and isolation gripping those in…
LANSING, Mich. — Medical debt affects more than 100 million Americans and is the number one cause of bankruptcy according the Scheinman Institute at Cornell University.
Michigan leaders and the non-profit, Undue Medical Debt are working to tackle that issue in the state of Michigan.
Governor Gretchen Whitmer secured $144 million in the state budget that will provide relief to 210,000 Michiganders.
Medical debt is a burden that can last a lifetime.
Gov. Whitmer says working with non-profits like Undue Medical Debt and other organizations is an important way to help five some relief especially in the wake of federal cuts.
“We also know that medical debt coupled with the recent federal actions about cutting Medicaid and cutting access…
