Tag: insolvencies

Insolvency Service unveils bankruptcy and insolvency figures

Insolvency Service unveils bankruptcy and insolvency figures

Figures published by the Insolvency Service have revealed personal insolvencies rose 1% in the April to June period. According to the Insolvency Service, there were 30,513 personal insolvencies in the three-month period – up from 30,162 in the three months to the end of March. While this is a slight rise, the total is actually [...]

Report reveals financial difficulties for UK firms

Report reveals financial difficulties for UK firms

A report by insolvency specialist Begbies Traynor has revealed 2011 could see a 10% hike in insolvencies. According to the report, 147,836 firms are facing serious difficulties than at any time since the beginning of 2009. The report suggests firms are still feeling the effects of the recession and the Government spending cuts will only [...]

Personal insolvencies fall for first time since 2007

Personal insolvencies fall for first time since 2007

Figures today revealed the number of people being declared insolvent in England and Wales may have peaked after falling for the first time since 2007. According to the Insolvency Service, there were 34,743 personal insolvencies in the April to June period, a fall of 3% compared with the first quarter. However, they were still 5% [...]

Personal insolvencies reach fresh high

Personal insolvencies reach fresh high

Figures published today by the Insolvency Service revealed a considerable rise in the number of people declared insolvent in England and Wales. According to the Insolvency Service, there were 35,682 personal insolvencies in the first quarter of the year - the fifth straight quarter during which the total has hit a fresh high. The figure [...]

Worst is yet to come for insolvencies

Worst is yet to come for insolvencies

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 [...]

Ongoing credit crunch forces unnecessary bankruptcies

Ongoing credit crunch forces unnecessary bankruptcies

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 [...]

UK debt exceeds £1 trillion

UK debt exceeds £1 trillion

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, [...]

Insolvencies on the increase

Insolvencies on the increase

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 [...]