Insolvencies soar to 16-year high as tax hike drives bosses to close up shopCompany insolvencies surged at the year's start, reaching levels not seen since the financial crisis, driven by challenging economic conditions.
Select Fashion collapses leaving staff without pay - London Business News | Londonlovesbusiness.comSelect Fashion's collapse has led to store closures and unpaid wages for staff, necessitating redundancy claims.
Insolvencies soar to 16-year high as tax hike drives bosses to close up shopCompany insolvencies surged at the year's start, reaching levels not seen since the financial crisis, driven by challenging economic conditions.
Select Fashion collapses leaving staff without pay - London Business News | Londonlovesbusiness.comSelect Fashion's collapse has led to store closures and unpaid wages for staff, necessitating redundancy claims.
The Hard Truth About Trump's Social Security PlanTrump's proposed changes to Social Security could inadvertently lead to benefit cuts and increased insolvency risk for the program.
Social Security Barely Covers 40% of Most People's Previous Income - Here's How to Cover the RestSocial Security is expected to run out by 2033 due to demographic changes, increasing the need for personal financial planning.
How Trump could make Social Security's fiscal outlook gloomierTrump's policies would hasten the Social Security trust fund depletion by three years, worsening financial outlook significantly.
The Hard Truth About Trump's Social Security PlanTrump's proposed changes to Social Security could inadvertently lead to benefit cuts and increased insolvency risk for the program.
Social Security Barely Covers 40% of Most People's Previous Income - Here's How to Cover the RestSocial Security is expected to run out by 2033 due to demographic changes, increasing the need for personal financial planning.
How Trump could make Social Security's fiscal outlook gloomierTrump's policies would hasten the Social Security trust fund depletion by three years, worsening financial outlook significantly.
Hospitality insolvencies in January not as bad as feared - London Business News | Londonlovesbusiness.comInsolvencies in the hospitality sector are experiencing a complex trend with notable month-on-month fluctuations despite an overall annual decline.
Insolvency experts warn the 'implications of the Budget' will cause cost pressures for businesses - London Business News | Londonlovesbusiness.comThe Chancellor's Autumn Budget poses significant cost pressures on businesses, particularly in retail and hospitality sectors in 2025.
Hospitality insolvencies in January not as bad as feared - London Business News | Londonlovesbusiness.comInsolvencies in the hospitality sector are experiencing a complex trend with notable month-on-month fluctuations despite an overall annual decline.
Insolvency experts warn the 'implications of the Budget' will cause cost pressures for businesses - London Business News | Londonlovesbusiness.comThe Chancellor's Autumn Budget poses significant cost pressures on businesses, particularly in retail and hospitality sectors in 2025.
Hudson's Bay Company nearly $1B in debt, with court filings painting dire financial portrait | CBC NewsHudson's Bay Company faces a $950 million debt crisis amid ongoing struggles in the retail sector post-COVID.
Ransomware, disease and 'ultra low-cost retailers': Why 3 iconic Canadian clothing stores went broke | CBC NewsRansomware attack severely impacted Canadian clothing retailers during holiday season, leading to substantial revenue losses and forced promotions.
Hudson's Bay Company nearly $1B in debt, with court filings painting dire financial portrait | CBC NewsHudson's Bay Company faces a $950 million debt crisis amid ongoing struggles in the retail sector post-COVID.
Ransomware, disease and 'ultra low-cost retailers': Why 3 iconic Canadian clothing stores went broke | CBC NewsRansomware attack severely impacted Canadian clothing retailers during holiday season, leading to substantial revenue losses and forced promotions.
Solicitor Anthony Joyce takes legal challenge against claims he helped bankrupt clients to hide assetsAnthony Joyce is challenging misconduct allegations through judicial review, arguing the tribunal's decision lacks merit.
Businessman Colm Wu involved in scheme to divert monies out of 10 companies, court toldMr. Wu is facing allegations of fraudulent trading and mismanagement of company assets.
Solicitor Anthony Joyce takes legal challenge against claims he helped bankrupt clients to hide assetsAnthony Joyce is challenging misconduct allegations through judicial review, arguing the tribunal's decision lacks merit.
Businessman Colm Wu involved in scheme to divert monies out of 10 companies, court toldMr. Wu is facing allegations of fraudulent trading and mismanagement of company assets.
January insolvency hike to lay the foundations for a tough year ahead - London Business News | Londonlovesbusiness.comCompany insolvencies rose by 6% compared to the previous month, signaling potential challenges for British businesses in 2025.
Windmill Lane Pictures shutsThe iconic post-production business has become insolvent despite efforts to sustain operations.
Dublin-based Windmill Lane Pictures closes with immediate effectThe iconic film post-production company became insolvent due to industry pressures and was unable to secure the capital needed for viability.
January insolvency hike to lay the foundations for a tough year ahead - London Business News | Londonlovesbusiness.comCompany insolvencies rose by 6% compared to the previous month, signaling potential challenges for British businesses in 2025.
Windmill Lane Pictures shutsThe iconic post-production business has become insolvent despite efforts to sustain operations.
Dublin-based Windmill Lane Pictures closes with immediate effectThe iconic film post-production company became insolvent due to industry pressures and was unable to secure the capital needed for viability.
French e-bike startup Angell nears bankruptcy | TechCrunchAngell, a smart electric bike startup in France, is declaring insolvency due to significant manufacturing issues that compromised product reliability.
Harold Hill decorator received 100k of Covid loans she wasn't entitled toRuxanda Guja fraudulently claimed Covid loans exceeding eligibility, facing a 13-year director ban and a significant compensation payment.
Jailed fraudster who owned Forest Gate restaurant ordered to repay 30k loan in fullIlhan Kekec was sentenced to prison for fraudulently obtaining a loan intended for business aid during the pandemic.
Hornchurch builder stole to fund gambling and used company cash for 75k sports carVasile Hrusca received an 18-month suspended sentence for stealing and misusing company assets before liquidation.
Harold Hill decorator received 100k of Covid loans she wasn't entitled toRuxanda Guja fraudulently claimed Covid loans exceeding eligibility, facing a 13-year director ban and a significant compensation payment.
Jailed fraudster who owned Forest Gate restaurant ordered to repay 30k loan in fullIlhan Kekec was sentenced to prison for fraudulently obtaining a loan intended for business aid during the pandemic.
Hornchurch builder stole to fund gambling and used company cash for 75k sports carVasile Hrusca received an 18-month suspended sentence for stealing and misusing company assets before liquidation.
Opinion: How Canada's digital services tax is hurting small businessesCanadian small businesses face increasing challenges as insolvencies rise, compounded by new taxes like the Digital Services Tax.The implementation of the Digital Services Tax (DST) is raising costs for small businesses already struggling with high startup expenses.
Thousands of SMEs will not be able to meet the costs of new employment laws - London Business News | Londonlovesbusiness.comNew UK employment law plans threaten the survival of thousands of small businesses already struggling due to economic pressures.Exempting small firms from changes to probationary periods could protect jobs and stimulate growth during economic recovery.
Plans for 2.5billion 'British Disneyland' just outside London axedPlans for a £2.5bn theme park near London have been scrapped due to insolvency and legal disputes, ending hopes of a Disneyland competitor.
Opinion: How Canada's digital services tax is hurting small businessesCanadian small businesses face increasing challenges as insolvencies rise, compounded by new taxes like the Digital Services Tax.The implementation of the Digital Services Tax (DST) is raising costs for small businesses already struggling with high startup expenses.
Thousands of SMEs will not be able to meet the costs of new employment laws - London Business News | Londonlovesbusiness.comNew UK employment law plans threaten the survival of thousands of small businesses already struggling due to economic pressures.Exempting small firms from changes to probationary periods could protect jobs and stimulate growth during economic recovery.
Plans for 2.5billion 'British Disneyland' just outside London axedPlans for a £2.5bn theme park near London have been scrapped due to insolvency and legal disputes, ending hopes of a Disneyland competitor.
Director behind 400 companies banned for nine years after 'subverting insolvency system'Neville Taylor banned for nine years for facilitating debt-dumping of struggling businesses, subverting the insolvency system and harming creditors.
Kildare businessman Paul Wright asks Florida court to dismiss case against himMr Wright's legal defense claims the lawsuit should be dismissed due to jurisdiction issues and that the real matter lies in an English court.
Director behind 400 companies banned for nine years after 'subverting insolvency system'Neville Taylor banned for nine years for facilitating debt-dumping of struggling businesses, subverting the insolvency system and harming creditors.
Kildare businessman Paul Wright asks Florida court to dismiss case against himMr Wright's legal defense claims the lawsuit should be dismissed due to jurisdiction issues and that the real matter lies in an English court.
After Lilium's 'miraculous' revival, German air taxi firm Volocopter files for insolvency - Silicon CanalsVolocopter has filed for provisional insolvency while seeking financing options to avoid complete operational halt.
Retailers are on the brink of collapse and the Chancellor's Budget 'will dial up the challenges' - London Business News | Londonlovesbusiness.comUK retailers are facing significant operational strain and are at risk of collapse, particularly due to rising costs and decreased consumer spending.
Electric aircraft startup Lilium has run out of money | TechCrunchLilium aircraft startup is shutting down due to financial troubles and failure to raise emergency funds from the German government.
Air taxi maker Lilium is out of money and will cease operationsLilium has gone into insolvency due to failed funding efforts, halting air taxi production.The competitive eVTOL market poses significant challenges for companies unable to secure financing.
Electric aircraft startup Lilium ceases operations, 1,000 workers laid off | TechCrunchLilium, an electric aircraft startup, has ceased operations and laid off about 1,000 workers due to financing issues and insolvency.
Lilium stock price plummets to penny territory as FAA green light for flying taxis can't save it from insolvencyLilium's subsidiaries are expected to file for insolvency due to insufficient funds, causing a significant drop in share price.
Shuttered electric air taxi startup Lilium may be saved after all | TechCrunchLilium, an electric air taxi startup, is being acquired by Mobile Uplift Corporation after ceasing operations and intends to restructure and rehire laid-off workers.
Electric aircraft startup Lilium has run out of money | TechCrunchLilium aircraft startup is shutting down due to financial troubles and failure to raise emergency funds from the German government.
Air taxi maker Lilium is out of money and will cease operationsLilium has gone into insolvency due to failed funding efforts, halting air taxi production.The competitive eVTOL market poses significant challenges for companies unable to secure financing.
Electric aircraft startup Lilium ceases operations, 1,000 workers laid off | TechCrunchLilium, an electric aircraft startup, has ceased operations and laid off about 1,000 workers due to financing issues and insolvency.
Lilium stock price plummets to penny territory as FAA green light for flying taxis can't save it from insolvencyLilium's subsidiaries are expected to file for insolvency due to insufficient funds, causing a significant drop in share price.
Shuttered electric air taxi startup Lilium may be saved after all | TechCrunchLilium, an electric air taxi startup, is being acquired by Mobile Uplift Corporation after ceasing operations and intends to restructure and rehire laid-off workers.
Anger and frustration at creditors meeting of troubled Offaly firm as 458,000 in customer deposits in jeopardyEcoSolution Windows Doors & More Ltd ceased trading due to insolvency after experiencing rapid growth and failing to manage financial obligations.
Landlord 'hell' after letting agents goes under 'leaving them without rent money'Northwood Romford is entering liquidation, causing distress among landlords due to unpaid rent and service disruptions.
When and how to close your limited companyConsider company's solvency before liquidation; various factors influence closure, not just insolvency.
Typhoo Tea collapses into administration - London Business News | Londonlovesbusiness.comTyphoo Tea, after 120 years, has entered administration due to significant losses and cash flow issues, seeking a potential rescue deal.
Harland and Wolff parent company to enter administrationHarland and Wolff, a historic shipyard, is entering administration due to insolvency and plans to sell subsidiary shipyards to interested buyers.
Titanic builder Harland and Wolff to enter administrationHarland and Wolff has entered administration for the second time in five years, resulting in significant job losses but operational continuity for shipyards.
Typhoo Tea collapses into administration - London Business News | Londonlovesbusiness.comTyphoo Tea, after 120 years, has entered administration due to significant losses and cash flow issues, seeking a potential rescue deal.
Harland and Wolff parent company to enter administrationHarland and Wolff, a historic shipyard, is entering administration due to insolvency and plans to sell subsidiary shipyards to interested buyers.
Titanic builder Harland and Wolff to enter administrationHarland and Wolff has entered administration for the second time in five years, resulting in significant job losses but operational continuity for shipyards.
Budget tax rises could push more firms into trouble, says insolvency specialistIncreased employment costs and higher interest rates may push UK businesses into insolvency, prompting more demand for insolvency and recovery advice.
Surge in voluntary liquidations sparks abuse of process concernsThe sharp rise in creditors' voluntary liquidations in the UK is raising concerns about potential abuse and lack of scrutiny.
Record number of UK businesses at risk of collapse ahead of critical autumn budgetUK businesses are experiencing unprecedented financial distress, highlighting economic fragility as the government prepares new budget proposals.
Half a million firms in significant' financial distress as UK's economy stagnatesMore than 550,000 British firms face financial distress due to high interest rates, low consumer confidence, and pandemic-induced debt, potentially leading to insolvency.
Budget tax rises could push more firms into trouble, says insolvency specialistIncreased employment costs and higher interest rates may push UK businesses into insolvency, prompting more demand for insolvency and recovery advice.
Surge in voluntary liquidations sparks abuse of process concernsThe sharp rise in creditors' voluntary liquidations in the UK is raising concerns about potential abuse and lack of scrutiny.
Record number of UK businesses at risk of collapse ahead of critical autumn budgetUK businesses are experiencing unprecedented financial distress, highlighting economic fragility as the government prepares new budget proposals.
Half a million firms in significant' financial distress as UK's economy stagnatesMore than 550,000 British firms face financial distress due to high interest rates, low consumer confidence, and pandemic-induced debt, potentially leading to insolvency.
FTX sues Binance and former CEO Zhao for $1.8 billion received as part of a "fraudulent" share dealFTX's estate seeks to recoup $1.8 billion from Binance alleging fraudulent transfer related to a share buyback deal.The lawsuit claims FTX and Alameda were insolvent at the time of the transactions.
Provisional insolvency proceedings for Quantron - Sustainable BusQuantron, a zero-emission vehicle manufacturer, is facing provisional insolvency as unpaid salaries create uncertainty for employees.
Byju's founder says his edtech startup, once worth $22B, is now 'worth zero' | TechCrunchByju's founder acknowledges mistakes leading to the company's drastic decline in value.
A line in the sand moment': Premiership's troubles laid bare by report | Robert KitsonRugby must urgently address its financial instability, with seven Premiership clubs declared balance sheet insolvent and debts totaling £311 million.
Postmedia begins takeover of parts of SaltWire Network | CBC NewsPostmedia is acquiring parts of the insolvent SaltWire Network, solidifying its presence in Atlantic Canada's newspaper landscape.
The Drum's Daily Briefing: Nestle targets Ozempic users & Cazoo crashesNestlé launches Vital Pursuit food brand for weight management consumers, TikTok lays off marketing employees, Cazoo faces insolvency challenges.
Luxury retailer Ted Baker begins store-closing liquidation sales | CBC NewsClothing retailers starting store-closing clearance sales.
Company insolvencies fell in May - London Business News | Londonlovesbusiness.comInsolvencies in England and Wales decreased by 6% from the previous month and are 21% lower compared to the same period last year.