UK financial watchdog to beef up consumer protections January 25, 2022 The Financial Conduct Authority (FCA) has said it will take "assertive action" against firms seeking to limit compensation for customers.
Amigo Loans shares slide 40 per cent as lender warns of insolvency risk January 24, 2022 Amigo Loans has warned the company will collapse if a new scheme to pay back customers and restart lending is not approved.
Planned redundancies drop 86 per cent from pandemic peak January 24, 2022 Businesses are planning far fewer redundancies than they were a year ago amid growing confidence about the UK's economic recovery.
Covid-19 curbs decimate London’s retail economy January 24, 2022 Onerous restrictions on daily life during the pandemic has decimated London’s retail economy, reveals a fresh study released today. The capital’s retailers lost nearly a year’s worth of sales during the pandemic, underlining the severe blow curbs on economic activity has delivered to London’s shops, pubs and restaurants, research carried out by the Centre for [...]
Omicron onslaught: Wave of bankruptcies as insolvencies climb with voluntary liquidations up by 73 per cent January 18, 2022 The latest monthly insolvency statistics, published this morning by The Insolvency Service for the month of December 2021, show that the number of registered company insolvencies in England and Wales is 33 per cent higher than the number registered than two years ago, just before the pandemic. These rises were particularly influenced by the higher [...]
Watkin Jones revenue jumps by a fifth amid strong housing demand January 18, 2022 House builder Watkin Jones saw revenue jump by 21.5 per cent in the 2021 financial year amid strong demand for homes.
UK construction companies collapse in their hundreds as costs rise January 17, 2022 Hundreds of UK construction companies are collapsing each month amid rising costs, supply chain disruption and labour shortages.
Bankruptcy watchdog clears Thomas Cook bosses of wrongdoing January 12, 2022 The Insolvency Service, the UK’s bankruptcy watchdog, has reportedly cleared the bosses of global travel group Thomas Cook of wrongdoing, more than two years after the company collapsed. “The liquidation of Thomas Cook Group is a complex and significant insolvency, with the Official Receiver carrying out his duties to ensure an orderly wind-up of the [...]
Restaurant groups suffer £673m in losses as bosses call for tax relief January 10, 2022 The country’s top restaurant groups saw losses skyrocket in a year, hitting £673m, as bosses have called for more cash to help ailing venues. The top 100 groups saw losses increase 174 per cent in the year to the end of September 2021, according to an analysis of company accounts by accountancy firm UHY Hacker [...]
Teletext Holidays and Alpharooms cease trading as customers owed refunds January 7, 2022 Travel firms Teletext Holidays and Alpharooms have collapsed into liquidation as thousands of customers are still owed refunds. According to a report in The Sun, parent company Truly Holdings, has ceased trading, the government’s insolvency database shows. Some 4,000 consumers are thought to be impacted by the collapse, according to MoneySavingExpert. Thousands of customers complained [...]