More companies to follow Homebase and Typhoo Tea into administration following Budget, warns Begbies Traynor December 10, 2024 More UK companies will crash into administration following the tax hikes announced in Labour’s Budget at the end of October, according to Begbies Traynor. Announcing its half-year results to the London Stock Exchange, the Manchester-headquartered group said “UK insolvencies remain at elevated levels” and that it expects “continuing growth” in its business recovery division as [...]
Budget uncertainty has gone but odds have been stacked against business November 22, 2024 If Rachel Reeves thought certainty would cure the UK economy’s growth problem, she was wrong. She’s just pitted consumers against retailers. This data-heavy week has reflected that uncertainty over the Budget has not been cured by policy which heaps pressure on business. We’ve had inflation rising, debt compounded, inheritance tax receipts soaring, farmers protesting, the [...]
Why a 24 per cent drop in insolvencies is not all it seems November 19, 2024 At first glance, the Government’s new figures on insolvencies appear cheery, with the number of companies going bust over the last year down 24 per cent, from 2,293 to 1,747. But analysts have suggested figures may have more to do with falling interest rates than the general health of the economy, in addition to warning [...]
Former Kennedys partner fined £27k in last minute settlement November 18, 2024 Former Kennedys' real estate partner has settled his case with the legal watchdog moments before a hearing was set, but the case still proceeds against the firm's chief risk officer
Company swindled £230k out of customers in F1 British Grand Prix scam November 14, 2024 A scam company which targeted businesses with hospitality tickets for the F1 British Grand Prix has been wound up by the Insolvency Service. Informa Expo Ltd, trading as Informa Hospitality Group, inflicted losses of around £230,000 on customers, according to the insolvency body, by offering hospitality packages to Silverstone. Customers did not receive the tickets [...]
Labour’s ‘growth’ agenda already looks like a bad joke November 7, 2024 Well, that didn’t take long to unravel: the first Labour Budget for nearly 15 years, and the first ever by a female chancellor, saw the parallels with Kwasi Kwarteng’s infamous 2022 mini-Budget emerging within hours. The comparison was misguided, although the jittery reaction of financial investors and rise in government funding costs told its own [...]
Insolvencies at fashion manufacturers jump on cocktail of cost pressures October 29, 2024 Insolvencies at UK fashion manufacturers have risen by nearly a quarter in the past year as a combination of supply and demand pressures has driven firms under while customers switch to pre-loved clothing. According to Forvis Mazars, the international tax and advisory firm, over 100 companies went bust in the year to July 2024, up [...]
Monthly UK insolvencies remain stubbornly high ahead of Budget October 18, 2024 The release noted that monthly insolvency numbers so far in 2024 have been similar to 2023, which saw the highest annual number of insolvencies since 1993.
Mark Kleinman: Will Reeves step back from a Hallowe’en nightmare? October 10, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the City talking in his weekly City AM column.
Ahead of the Game: Yorkshire land financial boost from Castore deal October 2, 2024 Yorkshire have agreed a multi-million pound kit deal with Castore in a major boost for the cash-strapped county. The five-year contract is the first significant commercial deal brought to the club since their leadership was overhauled following the return of Colin Graves as chairman in February. Graves has yet to secure the £4m outside investment [...]