Credit, Collections & Insolvency News
Record high inflation combined with low wages is hitting Britain’s 4.8m low paid workers harder than anything they have faced before, including the Covid-19 pandemic, new research by the Living Wage Foundation has revealed. Polling of over 2,000 workers earning less than the real Living Wage, by the Living Wage Foundation and Survation, found 78% of…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 5.5% in August 2022 to a total of 1,933 compared to July’s total of 1,832, and increased by 43.4% compared to August 2021’s figure of 1,348. August 2021’s business insolvency figures were also 41.6% higher than…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies increased by 4.1% to 9,572 in August 2022 compared to 9,198 in July, and were 5% higher than August 2021’s figure of 9,117. Personal insolvencies also increased 7.4% from August 2019’s total of 8,910. The figurse showed that there…
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UK company insolvencies have increased by 72% in the past year with over 20,000 companies going out of business according to analysis from international audit, tax and advisory firm Mazars. The figures show that insolvencies increased from 11,949 to 20,512. Latest Insolvency Service figures indicated that 1,933 companies entered insolvency with pubs, bars and restaurants…
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The UK labour market is set to see an end to its 10-month streak in positive hiring intentions following a dip in productivity and growing recessionary fears according to a report from accountancy and business advisory firm, BDO. BDO’s Employment Index has seen an increase each month since October 2021, increasing 0.53 points to 115.33 in…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in August. The figures showed that there were 105 company insolvencies registered in Scotland, 18% higher than the number in August 2021 and 33% higher than in August 2019. The insolvencies comprised of 37 compulsory liquidations…
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Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies and business insolvencies decreased in August. The figures showed that there were 125 personal insolvencies, 16% lower than in August 2021, but 39% lower than August 2019. The personal insolvencies consisted of 111 IVAs, 10 DROs and four bankruptcies. Business insolvencies consisted of…
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