Unpaid Council Tax Debt hits £6bn pounds
Latest data published by the Department for Levelling Up, Housing and Communities (DLUHC) show unpaid council tax debt has reached a total of £6 billion as of 31stMarch 2024.This shows a 9% year-on-year rise...
Construction sector has the highest rate of Insolvencies
The Construction sector was the worst hit industry for insolvencies in the year to April 2024, the Insolvency Service has revealed.Some 4,401 construction companies in England and Wales registered as insolvent in the period...
Troubled Fashion retailer avoids Administration
Troubled fashion retailer Superdry has received court approval for its restructuring strategy as it looks to avoid administration.The announcement on Monday comes after the firm’s shareholders on Friday approved a proposed £10m equity raise to help turnaround its...
Increase in Unpaid Rent Arrears at the end of tenancies
Tenancies ending with unpaid rent arrears of more than five weeks’ rent have leapt to 17%, new research reveals.The findings from deposit alternative platform Reposit show that landlords needed to reclaim at least five weeks of...
ULEZ fines create £218 million pound Debt Pile in London
A staggering £218 million is owed in unpaid ULEZ fines in London, according to official figures.A Freedom of Information (FOI) request revealed that more than 1.3 million penalty charges (PCNs) were issued from September...
Labour promises to crack down on Small Business Late Payment
Labour says it will scrap business rates and crackdown on Small Business late payment as part of a package of measures to help small businesses.The party is also planning to boost small business exports...
Bankrupt Sporting legend could be forced to sell Gold Medals
Sporting legend Sir Bradley Wiggins has been declared bankrupt and could be forced to hand over his medals and trophies as his financial difficulties continue to mount.Wiggins, who retired from the sport in 2016 after...
Scottish Man sent to prison after ‘trying’ to collect Business Debt
A Scottish man who decided to recklessly act as a unlicensed Debt Collector recovering a business debt, has been punished in the courts for his unlawful actions.The man banged on a customers door and...
Iconic UK Bicycle manufacturer enters liquidation
An iconic bicycle manufacturer is to enter voluntary liquidation after almost 80 years crafting and designing bicycle frames.
Mercian Cycles, based in Derby, launched in 1946 and has continued to create bespoke bikes by hand...
Debt Relief Orders hit record numbers
A record number of Debt Relief Orders (DROs) were taken out in April, as the £90 fee for the insolvency option was scrapped.
DROs are available to those on low incomes and clear existing debt...
