In The News
KNP Logistics: A Cautionary Tale of Cybersecurity
In a shocking turn of events, Kettering-based KNP Logistics Group, the parent company of the long-standing haulage firm Knights of Old, has been forced into administration following a cyber attack. The attack, which occurred in June, has not only affected the lives of its employees, but also serves as a stark reminder of the looming…
Read MoreMortgage Costs Soar to Highest Levels in 15 Years
Mortgage costs have reached a peak, hitting their highest level in 15 years. The recentsurge is a result of rising interest rates and inflation, leading to financial uncertainty for bothborrowers and businesses. This article delves into the implications of soaring mortgage costs,and explore how borrowers are coping and the challenges faced by struggling businesses. The…
Read MoreConstruction Firms Face Financial Pressure, Leading to Insolvency
The construction industry is currently going through a challenging phase, as shown by recent data from the UK’s Insolvency Service. During the first quarter of 2023, there was a notable increase in insolvencies. With construction companies making up nearly 1/5th of all recorded cases. This figure amounts to 19% of known insolvent firms. This is…
Read MoreInsolvencies at Four Year High
It was reported this week that company insolvencies are the highest they have been in four years; with Directors voluntarily closing up shop. This is due to a rise in Company Voluntary Liquidations (CVL’s). Trading conditions in the UK remain tough after the couple of years of lockdowns. Not to mention the rising cost of…
Read MoreBounce Back Loan Fraudsters Handed Jail Sentences
A jail sentence most likely wasn’t the first thing that came to the minds of those who applied for the government loans during the covid-19 lockdowns. But lo and behold; three years on, and fraudsters are being prosecuted for abuse of Bounce Back Loans. Let’s not forget how crucial the loans were at the time.…
Read MoreFood Sector on the Brink of Collapse
There were warnings this week that the food sector is on the brink of collapse. The governments Autumn budget really needs to step up. The number of restaurant and food outlets going into liquidation nationally increased by 46% in the quarter to September 2022. Not only are people cutting back on expenses as the cost…
Read More