The head of the International Monetary Fund has warned of the threat to the global economy after a swathe of banks recently collapsed. The world economy has faced extreme pressure over the past three years with the effects of the Covid-19 pandemic still lingering, the war in Ukraine still sending a ripple effect across global …
2023 Banking Crisis Threatens Global Financial Stability Read More »
The total number of company insolvencies registered in England, Scotland & Wales in 2022 was 23,180 — the highest since 2009 and 56 per cent higher than 2021. According to research, over 100 firms in the construction sector could collapse each week. The construction industry is being decimated by bad debt, currently sitting at approximately …
UK Construction Industry At Risk of Failing At Fastest Rate Since Financial Crisis Read More »
The latest company insolvency statistics have revealed registered company insolvencies are 16% higher year on year and 11% higher than pre-pandemic levels, in England and Wales with 1,679 company insolvencies recorded in September. The picture in Scotland is even bleaker with company insolvencies spiking 47% compared to September 2021 and 36% higher than pre-pandemic levels …
The impact of rising energy prices on your business cashflow can be monumental. The cost of energy, price cap increases and the number of energy companies failing in recent months are putting immense pressure on UK businesses. With UK businesses chasing a combined £61 billion in late payments protecting your business cashflow is more critical …
The Impact of Rising Energy Prices on Your Business Cashflow Read More »
There is a dark cloud above us as the number of corporate insolvencies continue to rise in Scotland, England and Wales. With corporate insolvencies expected to increase by 33% this year, UK insolvency figures from Q4 2021 are showing that the needle is indeed moving. Corporate insolvencies in Scotland The number of Scottish corporate insolvencies …
The number of corporate insolvencies is about to erupt. Global corporate insolvency numbers are expected to increase by 33% next year, returning to levels not seen since before the pandemic began. Deloitte estimate that they could be even higher than the 60% increase in corporate insolvencies experienced in 2009 during the global financial crisis. We …
Corporate Insolvencies Are Rising. What Is Causing Them To Increase? Read More »
Creditors have been dealt another blow with the temporary restrictions on winding-up petitions being extended by a further three months. With recent delays to the removal of some of the final coronavirus restrictions, we are still not out of the woods yet and this is having a prolonged impact on the economy. This three-month extension …
UK Government Further Extends Temporary Restrictions on Winding-up Petitions Read More »
Are we in for a rude awakening? This is certainly the view of Deloitte in a recent article they published looking at the outlook for corporate insolvencies in 2021. The number of corporate insolvencies in England and Wales in Q2 and Q3 2020 were at historical lows, when in fact we would expect insolvencies to …
The impact of COVID-19 has been monumental for a lot of us, particularly for business. UK Chancellor Rishi Sunak has today warned “the UK economy will contract by 11.3% this year, the largest fall in output for 300 years.” He then went onto state that economic output won’t reach pre-crisis levels until Q4 2022. The …
Official Forecasts Now Predict The Biggest Economic Decline In 300 Years Read More »
