‘Relentless pressures’: More hospitality firms forced to shut even before Iran war Hospitality The rate of corporate collapse in hospitality surged in February in signs the sector was struggling to stay afloat even before the Iran war brought further cost pressures. The number of accommodation and food service firms declaring insolvency jumped by 22 per cent to 270 in February, according to government data. This acceleration of the crisis [...]
Recession fears as insolvencies creep up amid construction woes Economics The number of insolvencies crept up in October, official data has shown, amid further pressures on the construction industry and worries that Budget measures may sound the death knell for struggling companies. Data released by the Insolvency Service showed a 1.7 per cent month-on-month rise in insolvencies. On a year-on-year basis, official numbers show insolvencies [...]
Pub closures reach new high as hospitality braces for Budget hospitality Pubs and bars are closing at the fastest rate seen this century, fresh City AM analysis has found, as rising costs squeeze many in the hospitality sector to the point of collapse. The number of British pubs and bar businesses appointing liquidators or administrators surged to 449 in the first 10 months of the year, [...]
David Beckham’s former esports team owes millions after closure September 10, 2025 Creditors of an esports company initially backed by David Beckham are set to be left out of pocket to the tune of more than £2m after the firm went out of business. Guild Esports, which owns a multi-story gaming venue in Shoreditch, officially entered voluntary liquidation earlier this month after first being put up for [...]
Insolvencies ease in signs of UK businesses’ resilience July 18, 2025 Insolvencies declined slightly in June in signs UK businesses under pressure from higher costs have weathered through tax rises and low national spirits. In new data published by the Insolvency Service, company insolvencies fell by eight per cent in June compared to the month before. The number of insolvencies – 2,043 – was also 16 [...]
Retail and construction lead insolvencies as UK firms in ‘perilous position’ June 20, 2025 Wholesale and retail traders and construction firms accounted for nearly a third of all insolvencies seen in the 12 months to April. Data published by the Insolvency Service has pointed to a further concerning trend in the UK economy as the number of companies insolvencies in May grew eight per cent month-on-month. The number of [...]
Reeves’ tax hikes lead to spike in pubs going bust June 16, 2025 The series of tax hikes introduced by Chancellor Rachel Reeves in her Autumn Budget last year has contributed to a spike in pubs going bust across the UK in April, according to new figures. A total of 67 pubs closed down during the month – the highest number since July 2024 when 75 entered insolvency [...]
Construction industry ‘not expected to recover’ in 2025, building supplier Lords says May 8, 2025 The UK construction industry is unlikely to recover before the end of the year, one of Britain’s biggest building materials suppliers has said, as firms wrestle with rising taxes and increased uncertainty. London-listed Lords said it was continuing to focus on delivering efficiencies to deal with cost pressures and “an increasingly onerous regulatory environment” after [...]
EY: Profit warnings surge points to ‘economic shock’ May 6, 2025 Nearly one in five listed companies have told investors that they expected profits to decline in the past twelve months, new research has suggested, reflecting firms’ vulnerabilities to higher taxes and damaging tariffs. Chancellor Reeves flattered investors in the run-up to last year’s election, calling Labour the “natural party of business”. But a new report [...]
Recruitment firms shutting at fastest rate since financial crash April 24, 2025 Recruitment agencies are shutting for business at their fastest rate in fifteen years as companies tear up hiring plans amid rising taxes and global economic uncertainty. As many as 120 recruitment businesses have appointed liquidators in the past six months, a City AM analysis of insolvency disclosures has found, a jump of 17 per cent [...]