Credit, Collections & Insolvency News
British towns have lost 6,000 retail outlets over the past five years, though the vacancy rate has improved in some settings, according to latest British Retail Consortium figures. The figures showed that the biggest 650 towns across have lost a combined 6,000 retail outlets, such as shops and restaurants, since 2018 with vacancy rates reaching…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for June 2023 was 2,163, this was 27% higher than in the same month in the previous year (1,698 in June 2022). The increase business insolvencies compared to the same month last year was mostly driven by…
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Acquisitions that go wrong are a top cause of business insolvency, according to Purbeck Personal Guarantee Insurance. Purbeck says an over-reliance on accountants, and bad debts or payment disputes, were also major reasons why business owner’s dreams ended in a nightmare. Firms window dressing their business to make it appear more secure than it actually is…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for May 2023 was 2,552, 40% higher than in the same month in the previous year (1,825 in May 2022). Th figures were at higher than levels seen while the Government support measures were in place in…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for April 2023 fell by 15%. The number of registered company insolvencies in April 2023 was 1,685, 15% lower than in the same month in the previous year (1,988 in April 2022). Business insolvencies decreased by 31.8%…
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Latest monthly statistics from the Insolvency Service have indicated that Northern Irish business insolvencies personal insolvencies have fallen. In April 2023 there were eight company insolvencies registered in Northern Ireland, this was 38% lower than April 2022. The business insolvencies comprised of four CVLs, two compulsory liquidations and two administrations. There were no CVAs or receivership appointments.…
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Latest quarterly figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales decreased by 4% but rose 18% year-on-year in Quarter 1 (Q1) when compared to Q1 2022. The figures show between 1 January and 31 March 2023, there were 5,747 company insolvencies made up of 4,739 creditors’…
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Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies and business insolvencies decreased in Quarter 1 (Q1) of 2023. The figures showed that there were 40 business insolvencies in Northern Ireland in Q1 2023, a decrease of 29% from the same quarter of 2021. The insolvencies comprised 28 CVLs, four…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for March 2023 rose by 16%. The number of registered business insolvencies in March 2023 was 2,457, 16% higher than in the same month in the previous year (2,120). The increase in company insolvencies compared to March…
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The number of companies entering administration in March rose to 130, the highest figure since the Covid-19 pandemic first hit according to analysis by Kroll. The figures show that a rise in administrations continued in March, hitting the highest level since March 2020, when lockdowns made trading impossible for many firms. In Quarter 1 (Q1) of 2023,…
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New data analysis has revealed that over half a million UK businesses dissolved in 2022. The research from NerdWallet showed that 534,777 businesses dissolved in the 12 months of 2022 with the year seeing the second-highest number of business closures in a decade. The figure companies with 601,773 dissolved companies in 2021 as a result of…
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Global insolvencies are set to surge by 21% in 2023 and 4% in 2024, while insolvencies in the UK are expected to increase by 16% and 9% in the same period as businesses are tested by weak demand, prolonged pressure on profitability, weaker cash buffers and tighter-for-longer financial conditions, according to latest analysis by Allianz Trade.…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in February 2023 was 1,783 in England & Wales, a rise of 17% (1,783) which is higher than in the same month in the previous year (1,518 in February 2022), and 33% higher than the number registered three years previously (pre-pandemic…
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