Credit, Collections & Insolvency News
Latest figures from Accountant in Bankruptcy (AiB) have indicated that Scottish business insolvency numbers (liquidations and receiverships) decreased in September. The figures showed that. in September 2023 there were 87 business insolvencies registered in Scotland, which was 16% lower than the number in September 2022. The insolvencies comprised of 30 compulsory liquidations, 52 CVLs and five…
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Latest monthly statistics from the Insolvency Service have indicated that Northern Irish business insolvencies have risen. In September 2023 there were 37 business insolvencies registered in Northern Ireland, 68% higher than September 2022. The business insolvencies comprised of nine CVLs, 25 compulsory liquidations, one administration and two CVAs. There were no receivership appointments. In September 2023…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for September 2023 increased by 17% when compared to last year. The number of registered business insolvencies was 1,967, compared to 1,688 in September 2022. Of the registered business insolvencies in September 2023 there were 1,576 CVLs,…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for August 2023 increased by 19% (2,308) 19% higher than in the same month in the previous year (1,941 in August 2022). Business insolvencies increased by 33.6% in August 2023 to a total of 2,308 when compared…
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Latest monthly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies have risen whilst business insolvency figures fell. In August 2023 there were 139 personal insolvencies in Northern Ireland, which was 11% higher than in August 2022. The insolvencies consisted of 108 IVAs, 14 DROs and 17 bankruptcies. Business insolvencies registered in…
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Around 7,000 UK businesses are likely to go insolvent every quarter in 2024 as high interest rates cause financial strain and the UK economy enters recession, according to a new report from The Centre for Economics and Business Research (Cebr). Cebr research showed that were over 6,700 business insolvencies in Britain in Quarter 2 2023,…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for July 2023 decreased by 20.4% to a total of 1,727 compared to July and decreased by 5.7% compared to July 2022’s figure of 1,831. Business insolvencies increased by 57.6% compared to July 2021 and increased by…
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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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