Construction companies ‘treading water’ as insolvency rate reaches highest level in a decade August 24, 2023 UK construction companies are going bankrupt at a faster rate than at any point in the last decade.
Silicon Valley Bank UK says it will be put into insolvency this weekend March 11, 2023 Silicon Valley Bank UK has said it will be put into insolvency from Sunday evening. The announcement came after Silicon Valley Bank (SVP) was put under US government control on Friday afternoon, the biggest failure of a US bank since the 2008 financial crisis. The Bank of England said it would apply to place SVPUK [...]
Hospitality sector sees ‘worrying’ year as pub insolvencies jump 66 per cent November 20, 2023 The number of pub and bar insolvencies in the last year rose from 438 to 725, a "worrying sign," some industry officials say.
Insolvencies will keep rising for ‘foreseeable future’ under burden of Bank’s high interest rates October 13, 2023 Insolvencies climbed 17 per cent on last year in September as companies struggled under the burden of the Bank of England's interest rate hikes.
‘Death by a thousand cuts’: UK insolvencies soar 17 per cent and exceed pandemic levels March 15, 2024 The government agency said this was higher than levels seen during the pandemic "while the government support measures were in place", with things like the furlough scheme. It is also higher than pre-pandemic figures.
Greensill insolvency earns administrators £34m October 13, 2022 The collapse of the disgraced supply chain finance firm Greensill Capital has earned its administrators £34m in fees and expenses, according to reports.
London restaurants: Outlook ‘bleak’ as insolvencies mount across the industry February 1, 2023 London restaurateurs have described the outlook for the sector as ‘bleak’ after research has revealed that the number of hospitality businesses going bust has jumped by 65 per cent in the last year. The figures, which were released by accountancy firm Price Bailey, show that 1,880 British restaurant businesses became insolvent in 2022, compared to [...]
Bank unlikely to pause rate hikes despite 28,000 insolvencies forecast for 2024 September 4, 2023 Over 28,000 firms could go under next year due to the burden of higher interest rates, a top think tank has warned.
Insolvencies surged in November, confirming 2023 is set to be the worst year for corporate collapses since 2009 December 15, 2023 The number of insolvencies in November was 2,466, a 21 per cent increase from the same month in the previous year.
CBI seeks legal advice on insolvency ahead of culture reboot announcement today May 31, 2023 THE embattled business trade body the CBI is expected to lay out a series of measures today which it hopes will allow it to put a sexual harassment scandal behind it. The CBI, Britain’s biggest business trade body and for decades a mouthpiece for the country’s largest businesses, has been hit with a wave of accusations in recent [...]