Insolvency

Practice & Industry

Insight | September insolvencies 56% higher than last year

The number of company insolvencies in September 2021 sat at 1,446 which is 99 more than recorded in August and 56% higher than last year’s figure of 926

15 Oct 2021

Insight | Caffe Nero beats landlord's challenge to CVA

The court has dismissed a landlord-backed challenge to the company voluntary arrangement (CVA) of Caffe Nero after finding that there was ‘no clear route’ for postponing a vote on the plan after a bid came forward

30 Sep 2021

Insight | EVCL Chill goes into administration

PwC has been appointed as joint administrators of EVCL Chill Ltd and its subsidiaries, as the food distribution company collapses as a result of HGV driver shortages

28 Sep 2021

Insight | Derby County kicked into administration

Andrew Hosking, Carl Jackson and Andrew Andronikou, managing directors at business advisory firm Quantuma, have been appointed joint administrators of Derby County Football Club

22 Sep 2021

Insight | Insolvencies at highest since first lockdown

Last month there were 1,348 registered company insolvencies, the highest since the first UK lockdown in March 2020 according to figures from the Insolvency Service

20 Sep 2021

Insight | Administrators appointed at Barrow & District Credit Union

James Sleight and Peter Hart of PKF GM have been appointed as joint administrators of Barrow & District Credit Union Limited

20 Sep 2021

Insight | MPs call insolvency profession ‘vulture culture’

The All Parliamentary Party Group (APPG) on Fair Business Banking has harshly criticised the role of insolvency practitioners, describing the business as a ‘lucrative vulture culture’

14 Sep 2021

Insight | End of temporary insolvency measures

Temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1 October

9 Sep 2021

Insight | High street shop closure rate slows

As the pandemic continues to hit business, over 8,700 chain stores disappeared from retail locations in the first six months of 2021

6 Sep 2021

Insight | Hospitality sector faces insolvency crisis

There has been a 65% rise in write-offs of loans to restaurants and hotels during the pandemic, with £99m written off by banks and other lenders in 2020/21, up from £60m the previous year, shows research by Mazars

6 Sep 2021

Insight | Use final month of furlough to plan for the future, warns R3

Insolvency and restructuring trade body R3 is urging directors of Covid-hit businesses to use the final month of the government’s furlough scheme to plan for the future and address any financial issues they face

27 Aug 2021

Insight | Magna Group mini-bond companies shut down

Seven associated mini-bond selling companies responsible for mis-selling over £20m of loan notes have been shut down

18 Aug 2021

Insight | Creditors’ voluntary liquidations up 70%

Creditors’ voluntary liquidations (CVLs) are 70% higher than the figures reported in July 2020 whilst corporate insolvencies fell once again by 9.3% from June to July 2021

17 Aug 2021

Insight | Pre-pack administrations in a post-pandemic world

The decision to go into pre-pack administration can be the best way to save an ailing business but there are new rules to consider, warns Paul Reeves, managing director, restructuring advisory at Kroll

17 Aug 2021

Insight | Personal bankruptcies at a record low in Q2 2021

The number of people entering personal insolvency procedures has reduced by around 4.3% to 27,662 individuals compared to the previous quarter, but corporate insolvency figures are shown to have risen

2 Aug 2021