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10 per cent fall in Corporate Insolvencies

According to recent figures from Experian, corporate insolvencies fell by 10% in January 2011.

During January 2010 1,426 businesses failed but a year on the figure recorded is 10% down on that at 1,266. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , — admin @ 5:36 pm March 24, 2011

HMV in covenant crisis talks

The music and entertainment retailer HMV have announced that they are likely to break banking convenants as debts mount.

HMV are already in talks with Deloitte regarding debts to lenders including RBS and Lloyds and have issued their fourth profit warning in six months. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , , — admin @ 6:28 pm March 2, 2011

January sees 96 companies declared insolvent

96 companies were declared insolvent in January, but figures show that this is a 13% drop on January 2010.

With statistics from reporting that more than three companies a day went out of business last month, it does look as though the economy is not quite out of the woods yet. (more…)

Category : Corporate Insolvency — Tags: , , , — admin @ 10:17 am February 2, 2011

Corporate insolvency figures for 2010 not realistic reflection of what is happening

There has been much discussion regarding the possibility of a double dip recession.

It is believed that 2011 will see record levels of corporate insolvency and that the figures due to be published on Friday will not be reflective of what is happening on the ground with businesses. (more…)

Category : Corporate Insolvency — Tags: , , , , — admin @ 1:32 pm February 1, 2011

Financial health of large companies deteriorates

A report from Experian has noted that food retailers and large companies in general have seen their financial credit ratings fall considerably from August last year. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , , — admin @ 2:36 pm September 29, 2010

UK insolvency down as economy stabilises

The UK economy is starting to stabilise. According to reports by Experian, company insolvencies decreased by more than 13 per cent during June 2010, compared with data from the same period last year. This trend shows that the UK is coming out of the recession.

The data states that 1,771 UK businesses declared themselves insolvent last month, compared with 2,044 in June of 2009. (more…)

Hotel and leisure insolvencies still high in May

UK insolvencies are falling in general but hotel and leisure insolvencies were still high in May.

Experian’s most recent figures have shown that UK business insolvencies were at their lowest since the start of 2010, but insolvencies in the hospitality sector were still high. In May 2010 there were 123 insolvencies in the sector, up from 121 in May 2009. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , — admin @ 12:10 pm June 22, 2010

UK Corporate Insolvency Figures Set to Rise

Despite steady numbers over the past six months, the number of UK corporate insolvencies is set to rise. Businesses and individuals will continue to be affected by the recession even thought the UK is showing signs of slowly emerging from the downturn. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , , — admin @ 12:01 pm June 15, 2010

Wrongful Trading v Insolvent Trading: know the difference

While the two terms sound similar, it is Wrongful Trading that is the one to watch. Under Section 214 of the Insolvency Act 1986, Wrongful Trading is unlawful. By contrast, trading while insolvent, or Insolvent Trading is not necessarily unlawful. Insolvent Trading can be used as evidence of a case of Wrongful Trading. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , — admin @ 10:18 am March 22, 2010

Portsmouth FC on the verge of insolvency

Portsmouth Football Club owes £22million to finish the current football season. Wtih debts at that level, the club is facing insolvency.

When the club’s management stands before the high court on March 1st, they will need to demonstrate that they can generate the cash injection required to stay in the game. (more…)

Category : Corporate Insolvency,Insolvency news — Tags: , — admin @ 2:31 pm February 22, 2010

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