News Tag: insolvencies
October 20, 2009
Recovery and restructuring company, Begbies Traynor, is forecasting a difficult time for businesses next year.
Its report titled ‘Red Flag Alert’ is a monitor of early warning signs of company distress and its latest report reveals that during the July to September 2009 period, 134,000 businesses still showed "material signs of distress" with the engineering and recruitment sectors being the "most ...
Worst is yet to come for insolvencies
by Kay Murchie
October 17, 2009
Potentially successful businesses are being forced into bankruptcy because they can't get access to credit, an industry expert has claimed.
Commenting on research by UHY Hacker Young and Trowers & Hamlins that found a rising number of firms facing financial difficulties, David Molian, lecturer in entrepreneurship at the Cranfield School of Management, said restrictions on lending were to blame.
"I think those businesses ...
Ongoing credit crunch forces unnecessary bankruptcies
by David Masters
August 22, 2008
Research from accountants Grant Thornton has revealed that the total amount owed by consumers through mortgages, loans and credit cards increased by 7.3% during the six months to 30 June to stand at £1.444 trillion.
However, during the same six-month period, Gross Domestic Product (GDP) only rose by 5.1% in nominal terms to £1.41 trillion, meaning personal debt exceeds the income generated ...
UK debt exceeds £1 trillion
by Kay Murchie
May 6, 2008
Figures published by The Insolvency Service have revealed that the number of people declared insolvent has risen for the first time in over 12 months in the first 3 months of 2008.
The figures show that 25,264 people have been declared insolvent, which represents a rise of 1.7% compared with the last 3 months of 2007.
Furthermore, there were 9,614 Individual Voluntary Arrangements (IVAs) ...
Insolvencies on the increase
by Kay Murchie
