Credit, Collections & Insolvency News
Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for October 2023 was 2,315, 18% higher than in the same month in the previous year (1,954 in October 2022). The business insolvencies consisted of 256 compulsory liquidations, 1,889 creditors’ voluntary liquidations (CVLs), 146 administrations, 23 company…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency numbers increased by 35.7% in October 2023 to a total of 9,881 compared to September’s total of 7,280, and decreased by 6.1% compared to October 2022’s figure of 10,528. Personal insolvencies increased by 2.1% from October 2021’s total of…
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Latest figures from Accountant in Bankruptcy (AiB) has shown that business insolvencies in Scotland increased. In October 2023 there were 99 business insolvencies registered in Scotland, 21% higher than the number in October 2022. The business insolvences comprised of 35 compulsory liquidations, 58 CVLs, four administrations and two CVAs. There were no receivership appointments.
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Latest monthly statistics from the Insolvency Service have indicated that business insolvencies significantly increased whilst personal insolvencies figures fell. In October 2023 there were 27 business insolvencies registered in Northern Ireland, 80% higher than October 2022. The business insolvencies comprised of 12 CVLs, 14 compulsory liquidations and one administration. There were no CVAs or receivership appointments. There…
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A new report by the Centre for Economics and Business (CEBR) on behalf of Aegon has found that the proportion of both full-time and part-time private sector workers missing work due to financial concerns has risen to 12%, – up from 10% in 2021. On average, employees lost 4.7 workdays per year, leading to over…
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New research from leading global management consultancy Kearney has found that the number of zombie companies in the energy industry fell 13% in 2022, dropping from 3.9% in 2021 to 3.4%. This is despite a 5% increase in the global share of zombie companies across all industries. The OECD defines zombie companies as those that…
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Families resorting to ‘desperate measures’ and struggling with ‘frightening’ level of hardship amid cost of living crisis according to research by the Joseph Rowntree Foundation (JRF) charity. About 2 million households have been forced to turn off their fridge or freezer to save money as they continue to struggle. Nearly half of those households said…
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