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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

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

Sarah Ferguson faces bankruptcy

Sarah Ferguson could be the first royal to be declared bankrupt.

Like many, Sarah Ferguson is facing bankruptcy and is weighing up what she should do. The difference of course being that she is a member of the royal family and her debt extends into the millions. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , , , — admin @ 11:50 am August 26, 2010

Bankruptcy rises among women

With structures in place to provide alternatives to bankruptcy, why are bankruptcy figures rising? Even with options such as Individual Voluntary Arrangements (IVA), statistics show that 28% of British women declared bankruptcy in the last year. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , — admin @ 10:16 am August 9, 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

Relying on credit cards could lead to insolvency

More people are relying on their credit cards to cover everyday expenses, according to figures released by the UK Insolvency Helpline Debt Advice Service. Between January and April this year, 40% more people contacted the service with concerns about their financial circumstances brought on by their credit card spending. (more…)

Category : Insolvency news,Personal Insolvency — Tags: , , — admin @ 12:05 pm June 13, 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

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