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 [...]
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 – [...]
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% [...]
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% [...]
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 [...]
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 [...]