Personal Insolvency rising sharply according to new figures
New figures released show a massive increase in Personal insolvency.The latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency numbers increased by 35.7% in October 2023 to...
UK Business insolvency rises by 18%
Uk Business insolvency is officially on the rise.The latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for October 2023 was 2,315, 18% higher than...
Cash Flow is Small Business owners biggest concern
Small business owners have revealed that cash flow is the biggest challenge for nearly half of the respondents.Almost half (48%) of small to medium enterprises cited cash flow as the largest single challenge their...
Double glazing giant facing liquidation
Yorkshire based Doubled Glazing giant Safestyle is facing liquidation.Only last week, the company, which has its HQ in Bradford, announced administrators had been appointed.Around 680 of its workers were made redundant as a result...
Freelancers being hit by rise in Late Payments
Late payments are a quiet, yet powerful economic disruptor. Whilst they impact businesses of all sizes, studies have shown small and medium enterprises (SMEs) and freelancers are particularly at risk, with the impact of...
Number of Insolvent Restaurant Companies rising by the week
The number of insolvent restaurant companies is increasing week on week it has been reported.In new data, it has been revealed that the number of insolvent restaurant companies has has risen by 46% in...
Huge £42m Debt written off by City Council
Millions of pounds of unpaid council tax debt has been written off by an authority, it has been revealed.A Liverpool City Council report said about £42m of debts, which was mostly uncollected council tax...
Government vows to act on SME late payments
The UK government has launched tougher measures to tackle SME late payments to small businesses as part of its upcoming Prompt Payment & Cash Flow Review.The Prompt Payment & Cash Flow Review is a...
District council writes off £1.35m of uncollectable debt
A small district council in Lincolnshire has written off £1.35m deemed as 'uncollectable' by officials.South Holland District Council (SHDC) took the steps after debt collection efforts failed results in debts not being paid.The uncollectable...
Major contractors admit 20% of Invoices are paid late
A swathe of major contractors are still failing to pay invoices on time, according to their own payment data.Build UK has compiled fresh payment-performance data on a range of tier one and specialist contractors,...
