The Insolvency Service releases monthly company and individual insolvency statistics for England and Wales, and monthly company statistics for Scotland. The latest monthly release was published on 14 August 2020. Summary for July 2020 England and Wales Whilst overall numbers of company and individual insolvencies remained low in July 2020, when compared with the same […]
The Insolvency Service has released company insolvency statistics for Q4 September to December 2019 for England and Wales, showing an increase in underlying company insolvencies for the year to their highest levels since 2013. Despite the overall increase in 2019 over previous years, the last quarter witnessed a slight decrease in underlying company insolvencies – […]
The retail sector has gone through significant transformation over the last decade with the introduction of new technologies, new business models, intensifying competition and increasingly sophisticated consumers which have all contributed to a changing landscape in the industry. Volume discounters and low-cost chains now dominate the market whilst established household names have found conditions more […]
R3 the insolvency practitioners’ insolvency body has reported that there has been a further increase in female personal insolvencies compared to men. The gender pay gap, as well as other stereo-typical gender roles in both business and family life are said to be behind this increase. The introduction of Debt Relief Orders has also played […]
It has been reported that 2,764 construction firms entered insolvency in 2017/18, jumping 6% in just a year from 2,608 in 2016/17 This substantial rise in construction insolvencies can be seen as being partly due to the fall-out following Carillion’s liquidation in January 2018. Many of the reported insolvent firms were part of the supply […]
2018 has been reported in insolvency news sources as the year of the CVA (Company Voluntary Arrangement) and in particular the Landlord CVA. The news has been full of established high-street names using CVAs to help streamline their businesses by looking at their leasehold commitments, closing some premises and trying to get rent reductions for […]
A worrying trend sees that the geographical spread of personal insolvencies shows that seaside towns are most effected. The North East and coastal towns such as Plymouth and Scarborough typically had the highest concentrations of personal insolvencies. The places which have the highest rate of personal insolvency tend to be seaside towns, as well as […]
Driving to work on Tuesday morning listening to Radio 4, BBC News had an article about rising levels of personal debt which made me think back to the economic crisis of 2008 which was fuelled by a reckless attitude to risk and lending to those that were not in a position to repay their debts. […]
Earlier this year we reported on the struggling restaurant industry following the closure of some of Jamie Oliver’s restaurants. Unfortunately it seems that our prediction for hard times ahead is coming to fruition with more big name restaurants adding to the list including Ed’s Easy Diner and Frankie and Benny’s closing poorly performing sites from […]