Happy New Year 2018! Isn’t it amazing how January seems to come round more quickly each year? The world seems to be moving faster, with everything apparently speeding up and the weeks and months flying by at an ever-increasing pace. … Continue reading
Tag Archives: insolvency
Insolvencies rise as uncertainty casts a shadow
The Government’s Insolvency Service have published new figures that show a big increase in the number of companies going bust in recent months. In the third quarter of the year ending September 2017, there were 4,152 company insolvencies in England … Continue reading
Insolvencies rise as Brexit uncertainty shakes confidence
LATEST government statistics have revealed that the number of companies going bust and people becoming insolvent in England and Wales is once again on the increase. From what I can see, the figures are a reflection of continuing economic uncertainty … Continue reading
Insolvencies fall in 2015
Official statistics for 2015 have shown a continued decrease in the number of people and companies going bust. Company insolvency has fallen to its lowest level since 1989 whilst the number of people becoming insolvent is at the lowest level … Continue reading
UK SMEs owed billions in unpaid invoices
UK small and medium sized businesses are owed £67.4bn in unpaid invoices , an increase of 8% from last year and 36% from £49.5bn in 2011, according to new research from the Asset Based Finance Association (ABFA). The rise is … Continue reading
Happy 6th Birthday to Moorhead Savage
Setting up a business in the summer of 2009, just as the recession was about to bite hard, might have seemed an almost reckless concept. But insolvency practitioner Paul Moorhead recognised that a tough market would almost certainly need … Continue reading
Infographic | Stats show Businesess and Individuals still struggling with cash flow problems
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The latest insolvency statistics from the Insolvency Service show Businesess and Individuals still struggling with cash flow problems.
The most recent government insolvency figures show that throughout the country 2,481 companies went into compulsory liquidation in the first quarter of 2015, a drop of 15.9 per cent on the same period last year.
A further 904 companies voluntarily called in a liquidator rather than being wound up by the Courts, falling by 5.6 per cent.
And at the same time, personal insolvencies stood at 20,826, a fall of almost 19 per cent on last year’s figure.
- “These statistics show that, overall, the economy is showing signs of improvement.
- The number of businesses and individuals using a formal insolvency procedure to deal with over-indebtedness are both going down.
- But the numbers are still above the historical average and thousands of people and companies are still struggling with cash flow problems and high levels of debt.
As these figures demonstrate, fewer companies need to close as there are often ways to breathe new life into struggling businesses. In addition, rescue procedures can be used to minimise the impact of any closure and to mitigate the loss to creditors, employees and business owners.
As always, though, the advice is quite simply to Call us by seeking expert advice as soon as possible because there is so often a positive outcome to be achieved.
As these figures demonstrate, fewer companies need to close as there are often ways to breathe new life into struggling businesses. In addition, rescue procedures can be used to minimise the impact of any closure and to mitigate the loss to creditors, employees and business owners.
As always, though, the advice is quite simply to Call us by seeking expert advice as soon as possible because there is so often a positive outcome to be achieved.
Also read BDaily as Paul talks to them about these.
Infographic: Insolvency Statistics for 2014
The release of insolvency statistics for 2014 by the Insolvency Service has painted a positive picture of the past year in comparison to 2013, with the numbers of both company and personal insolvencies decreasing. The following infographic including a helpful … Continue reading
Over-trading: how to avoid the biggest threat to most businesses
It seems clear that the economy is now moving in the right direction, albeit slowly, as the damaging effects of the deepest, longest recession in living memory start to fade. If you read a newspaper or watch the TV news, … Continue reading
Infographic: Insolvency Statistics September-July 2014
Statistics for the third quarter of this year have been released by the Insolvency Service today. These show a fall in the numbers of both company liquidations and individual insolvencies.