Cable mulls insolvency shakeup

■ Business secretary Vince Cable yesterday floated the idea of shaking up the UK’s insolvency rules amid questions around the controversial collapse of electrical retailer Comet.

Cable told the House of Commons: “There may well be better ways of handling insolvency. We should have an open mind about other approaches. The American Chapter 11 system may well be better and I want to have a proper look at that.”