Business insolvencies increased by 39.4% in March

25th April 2022 Business | #business insolvencies

Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 39.4% in March 2022 to a total of 2,114 compared to February’s total of 1,517, and increased by 111.6% compared to March 2021’s figure of 999. The increase in company insolvencies was driven by an…

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Scottish business insolvencies double

25th April 2022 Business | #business insolvencies

Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland doubled in February. In March 2022 there were 86 business insolvencies registered in Scotland, 100% (2 times) higher than March 2021 but 11% lower than in March 2019. The insolvencies comprised of nine compulsory liquidations, 71 CVLs…

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Northern Irish business insolvencies increase whilst personal insolvency numbers fall

Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased whilst personal insolvency figures declined in the latest monthly figures round-up. In March 2022 there were 20 business insolvencies registered in Northern Ireland, almost three times as many as in March 2021, but 35% lower than March 2019. This was comprised…

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Global business insolvencies predicted to increase as support measures end

22nd April 2022 Business | #business insolvencies

Despite a return to normal for many economies in 2022, insolvencies are set to rise according to trade credit insurer, Atradius. The company predicts that the global economy will emerge gradually from the Covid pandemic in 2022, with restrictions unwound in most countries and regions. But despite a return to normality for many, Atradius reports…

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Insolvency Service tackles further Bounce Back Loan abusers

21st April 2022 Insolvency | #regulation

The Insolvency Service has announced secured new restrictions to tackle Bounce Back Loan abusers. The regulator has successfully secured restrictions against a gym operator and roofer after they falsely applied for bounce back loans. In separate applications, Junaid Dar from Birmingham, and David Godderidge from Tamworth, falsely applied for close to £60,000 from the Bounce…

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Six year ban for Recruitment Director

19th April 2022 Insolvency | #director ban

A company Director has been given a six-year ban by the Insolvency Service. Mason was director of Angel Contracting, a recruitment agency specialising in providing contractors to the construction industry. The company was incorporated in 2017 but went into liquidation two years later. At this point the Insolvency Practitioner made repeated requests for the company’s…

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Insolvency Service board appoints Non-Executive Director

The Insolvency Service has announced that it has appointed Frances Coulson as a new Non-Executive board member. Coulson is a practicing lawyer, with more than 26 years of experience in insolvency law, and a senior partner, board member and Head of Insolvency & Restructuring for the city-based law firm Wedlake Bell. Together with the other…

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Compulsory liquidations increase by 76% in last three months

8th April 2022 Business | #business insolvencies

Compulsory liquidations of struggling businesses have increased by 76% from 139 to 245 in the last three months according to new research by Mazars. The company predicts that there will be even more liquidations are expected in the next three months as the last temporary government measure to protect companies from insolvency during the pandemic…

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6,500 companies face insolvency risk

6th April 2022 Business | #business insolvency

More than half a million people are working at small companies which are at heightened risk of insolvency, according to analysis by Quantuma using Clarity’s proprietary insolvency propensity model. Companies faced with late payments, rising prices, higher taxes, the fallout from Brexit and pandemic-related staff shortages, around 6,500 SMEs are at higher than average risk…

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Nine year bankruptcy order for Cardiff independent financial adviser

6th April 2022 Business |

An independent financial adviser who had debt over £300,000 has been issued with a nine-year bankruptcy order after failing to provide services to customers Marc Jones, from Cardiff, was self-employed as an independent financial advisor from January 2012 until October 2018. From 2018 to 2019 he worked on behalf of a financial institution selling various…

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Interpath Advisory appoints Managing Director

6th April 2022 Appointments | #appoint

Interpath Advisory has announced the arrival of experienced restructuring advisor and insolvency practitioner Ryan Grant as Managing Director. Grant s arrival comes as the firm also announces the appointment of five new directors and a total of 51 further promotions across the business, as it continues to invest in its growing suite of advisory services.…

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INSOLVENCY NOTICES: Appointment of Administrators – March 2022

5th April 2022 Business |

In March the following administration notices have been issued and advertised in the London Gazette for the following companies: 157 US LTD 2 FR LTD 20 – 24 (FB) LTD 28 FL LTD 28FSM LTD ACM ACOUSTIC ENGINEERING LTD ADAPTIVE MODULES LTD ANGLO CHINESE PROPERTY CORPORATION LTD ANIL ESTATES LTD ARIA DEVELOPMENTS LTD ARNAOUTI PITTA…

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LIQUIDATION NOTICES: Creditors Voluntary Winding-Up – March 2022

5th April 2022 Business | #business insolvency

Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in March: 108 (DARLINGTON) LTD 1701 ENTERPRISE LTD 1776 GROUP LTD 1821 HOLDINGS LTD 1ST CHOICE ROLLER SHUTTER SERVICES LTD 2 DEGREE C LTD 2 PHYSIQUE’D LTD 2017 EASY EATING LTD 2TEMPTU TRAVEL LTD 3D DIGITAL…

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