Business Insolvencies up 33% on December 2019 levels

19th January 2022 Business | #business insolvencies

Latest Statistics from the Insolvency Service show that the number of registered business insolvencies in England and Wales in December was 33% higher than the number registered two years ago, just before the pandemic. The data shows that there were 1,486 registered company insolvencies in December, with this 20% higher than a year earlier. The…

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Scottish business insolvencies increase by 63%

19th January 2022 Business | #business insolvencies

The number of business insolvencies (liquidations and receiverships) in Scotland increased by 63% according to latest Accountant in Bankruptcy (AiB) figures. In December 2021 there were 93 company insolvencies registered in Scotland, 63% higher than December 2020 and 4% higher than in December 2019. This was comprised of 17 compulsory liquidations, 73 CVLs and three…

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Northern Irish business and personal insolvency numbers fall

19th January 2022 Business | #business insolvencies

Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies decreased in December in the latest monthly figures. In December 2021 there were 81 individual insolvencies in Northern Ireland, 48% lower than in December 2020, and 42% lower than December 2019. This consisted of 63 IVAs, 11 DROs and seven…

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Manolete makes Associate Director appointment

Manolete Partners has announced that Alexandra Withers has moved into an Associate Director position within the company. Withers studied law at Northumbria University and has worked in practice in Newcastle for the last decade, predominantly acting for insolvency practitioners in claims against former company directors and others, but also working on behalf of directors defending…

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Business insolvencies predicted to rise 33%

13th January 2022 Business | #business insolvencies

Brexit combined with the coronavirus pandemic has created a double-edged sword for businesses with its full-scale impact yet to be realised with Economists from Atradius predicting that insolvencies will rise by 33%. As the UK marks its first anniversary of the Brexit withdrawal, Atradius reports that the true ramifications of Brexit have been overshadowed by…

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INSOLVENCY NOTICES: Appointment of Administrators – December 2021

11th January 2022 Business | #business insolvencies

In December the following administration notices have been issued and advertised in the London Gazette for the following companies: 19 RM LTD 316 ENGINEERING LTD. ACCUMULATE COMMERCIAL LTD ACICS LTD AIGENPULSE LTD ALPHA HOMES (LEICESTER) LTD AMTECH DEVELOPMENTS (UK) LTD ARTISAN INVESTMENT GROUP LTD BANANA KICK LTD BATES OF LONDON LTD BDL TOOL & DIE…

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LIQUIDATION NOTICES: Creditors Voluntary Winding-Up – December 2021

11th January 2022 Business | #business insolvencies

Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in December: 07696043 LTD 10 COMPUTERS LTD 110 CHESTERGATE HAIR LTD 112 (SPEKE) LTD 2020 DESIGN & BUILD LTD 2105 CATERING LTD 23LSI LTD 30 PERCY STREET LTD 365 HOSPITALITY CATERING LTD 3RD DIMENSION HOUSING LTD…

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INSOLVENCY NOTICES: Winding Up Petitions – December 2021

11th January 2022 Business | #business insolvencies

In December Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09192621 LTD 111 WOODBRIDGE LTD 4 LESS GROUP UK LTD 4U FASHIONS LTD A1 PLASTICS (WXM) LTD ABACI LTD ABP RAD ESCO LTD ACCUEIL NEW HOMES LTD ADCOMAT STORAGE LTD AHR HALAL POULTRY (UK) LTD AKDENIZ…

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Quantuma appoints new Managing Director

Business advisory firm Quantuma has announced that it has appointed  Tim Sloggett as its new Managing Director to further strengthen its offering in the South West and Wales region. Sloggett brings with him more than 20 years’ experience of helping businesses that are underperforming or facing a crisis, across a range of sectors and from…

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Teneo Acquires KPMG’s Cayman and British Virgin Islands Restructuring Business

Global CEO advisory firm, Teneo has announced the acquisition of KPMG’s Cayman and British Virgin Islands (BVI) restructuring business. KPMG’s Cayman and BVI restructuring business, comprising over 25 professionals, will add specialist expertise in local and international restructuring, insolvency, e-Discovery and forensic technology services to Teneo’s global Financial Advisory offering. The team joining Teneo represents…

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R3 appoints Scottish Chair

Aberdeen-based restructuring and insolvency expert Richard Bathgate has been appointed as the Chair of insolvency and restructuring trade body R3 in Scotland. Bathgate, who is Restructuring Partner at Johnston Carmichael, Scotland’s largest independent firm of accountants and business advisers, takes over as Chair from Tim Cooper, Partner at Addleshaw Goddard. In his new role, Bathgate…

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Payment delays and insolvencies expected to impact motor sector

4th January 2022 Business | #risk

Credit risk in the automotive industry is set to deteriorate with an increase in payment delays and insolvencies according to new research by trade credit insurer Atradius. The report reveals several challenges facing the industry which stem from supply issues, decreased consumer demand and rising costs.  Combined, these have led to the insurance company rating…

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Rise of ‘football zombie clubs’ looms with 100% rise in financial difficulties since Covid onset

24th December 2021 Business | #insolvency

Financial distress is now affecting a total of 34 football clubs in England and Wales, double the number before football grounds around the UK were closed in March 2020 according to latest research by Begbies Traynor. The latest Football Distress Survey has highlighted a continuing credit crisis among English clubs outside of the Premier League…

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