The overall number of company insolvencies in England and Wales decreased by 50% in June 2020, when compared to the same month last year. This was primarily driven by a decrease in the numbers of CVLs and compulsory liquidations which fell by 45% and 78% respectively. Additionally, there was a 60% decrease in the numbers…

The latest figures from the Insolvency Service have shown that business insolvencies decreased in Scotland  in June 2020 Company insolvencies decreased by one-third when compared with the same month last year (June 2019. Figures from the  Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service, administers company liquidations and receiverships in Scotland show there was 46 company…

The latest figures from the Insolvency Service have shown that personal insolvencies increased in Northern Ireland during June 2020. The figures show that there were 272 individual insolvencies in Northern Ireland, up 42% from June 2019; this consisted of 242 IVAs, 24 DROs and six bankruptcies. The increase in individual insolvencies was driven by delayed…

Leonard Curtis has made a senior hire to its Manchester team with the appointment of Hilary Pascoe as Director. Pascoe joins the Business Rescue and Recovery division and is based at Riverside House, in the city – one of the company’s 19-strong office network that spans the UK and Channel Islands. Her arrival at the…

Members of the insolvency and restructuring professional trade body R3 expect corporate insolvency numbers to increase over the next year. More than half (56.1%) of the respondents to R3’s member survey who work in corporate insolvency said they expected corporate insolvency numbers to be significantly higher than in 2019, while 37.6% think they will be…

Payment holidays – while supporting some businesses through the current crisis – may be the death knell for those that have offered them according to research by the Chartered Institute of Credit Management (CICM). The research suggests that of the 83% of firms who had offered a payment holiday, two thirds (66%) said there would…

UK banks are preparing for up to 40 per cent (circa £11 billion) of loans from the Bounce Back Loan Scheme (BBLS) to potentially be written off as irrecoverable according to RSM Restructuring Advisory. RSM says that banks are already preparing and building their teams to pursue businesses that default on the BBLS, a scheme…

The ongoing COVID-19 pandemic crisis poses a significant financial threat to the UK higher education sector. Universities will experience large income losses from falls in student enrolment, especially of international students, as well as lockdown-related losses of income from student accommodation and conference and catering operations. according to new research by the Institute for Fiscal…

In June the following administration notices have been issued and advertised in the London Gazette for the following companies: 30 JAMES STREET LTD ACCESSORIZE LTD ADMEDO LTD ADWAIZ LTD AFFINITY CONTRACTS LTD AJS PROPERTIES 2018 LTD ALBION LTD ALPHA MAY DOMICILIARY CARE LTD ANDREW GRANT LTD LIABILITY PARTNERSHIP APTA BIOSCIENCES LTD ATAL CONTRACTING LTD ATHENA…

Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in June. 1ST CALL LETTINGS LTD 1ST CALL RECRUITMENT LTD 3TR LTD A HERITAGE WINDOW CO. LTD A-Z STATIONERS LTD A1 AUTOGLAZE NATIONWIDE LTD A1 HIGHFIELDS ASSOCIATES LTD AARKHAUS LTD AARON & STEPHEN CO LTD ABBEY…

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