News Tag: Insolvency Service
February 9, 2010
Having studied the latest figures from the Insolvency Service, Grant Thornton is predicting a glut of company failures in England and Wales during 2010.
Last year saw a record 4,161 companies placed in administration (up 1.7% on 2008) and the accountancy firm warns: "There is no light at the end of the tunnel for troubled companies that are relying on ...
Growth too slow to halt record company administrations
by Gill Montia
February 5, 2010
Figures from the Insolvency Service today highlighted the impact that the recession has had on many individuals.
According to the organisation, the number of people declared insolvent in England and Wales reached a record high in the last three months of 2009.
There were 35,574 people declared insolvent in the last three months of the year - a rise of 24.9% on ...
Personal insolvency figures soar in fourth quarter
by Kay Murchie
November 6, 2009
Figures from the Insolvency Service have revealed that personal insolvencies were up 28% in the third quarter of 2009 compared with the same period a year ago.
There were 35,242 personal insolvencies in the period - a 6.6% increase on the second quarter.
However, the number of businesses declared bankrupt declined, with 4,716 company liquidations, down 4.7% quarter-on-quarter but still almost 15% higher ...
Personal insolvencies up 28% on year
by Kay Murchie
August 13, 2009
Britain's turnaround and recovery professionals, TMA (UK) is warning that recent house price gains and rises in share prices should not be taken as an end to the economic downturn.
According to the group, there is still a severe lack of bank lending to businesses, which in turn has an impact on the capacity of consumers to demand ...
TMA warns not to be fooled by signs of recovery
by Kay Murchie
August 7, 2009
The Insolvency Service has today revealed the impact of the recession after the number of people being declared insolvent in England and Wales hit a record high.
According to the figures, a record 33,073 people in England and Wales were declared insolvent in the second quarter of 2009.
This represents a rise of 9% compared with the first quarter of 2009 and 27.4% ...
Personal insolvencies soar to record high
by Kay Murchie
February 6, 2009
Figures from the Insolvency Service have published some alarming news after it reported that company failures and personal bankruptcy has reached a record high for England and Wales.
In the last three months of 2008, there were 2,428 corporate insolvencies such as administrations and receiverships, according to the Insolvency Service. This represented an increase of 220% compared with the same ...
Downturn hits home as bankruptcies hit new high
by Kay Murchie
November 7, 2008
Figures from the Insolvency Service have revealed a surge in the number of people and firms being declared insolvent in England and Wales.
According to the Insolvency Service, 4,001 companies fell into liquidation during the third quarter, a rise of 10.5% compared with the previous quarter, and a 26.3% rise compared with the same period last year.
Meanwhile, the number of ...
Surge in number of firms going bust
by Kay Murchie
