In The News
The Cost of Living Crisis
The current cost of living crisis needs no introduction. Everyone is feeling it. You go to the supermarket only to find essential like eggs and milk have soared in prices. Not to mention the dreaded rise in energy bills. Thing look pretty bleak to be honest. We’ve seen a really unfortunate set of circumstances in…
Read MoreAppeal court win for company directors
The UK Supreme Court recently dismissed a claim for a law change that would force company directors to take creditors into account at the first sign of insolvency. Instead, the Supreme Court upheld the current law. As a result, directors only need to prioritise creditors when company insolvency is highly likely. Under the current ruling,…
Read MoreInsolvencies jump 43%
Startling new statistics have revealed the number of insolvent companies jumped by a staggering 43% in August 2022. Although high inflation has led consumers to reduce spending, this paints a bleak picture of the future of UK businesses. The government finally acted by freezing energy prices to lessen the blow of the recent hike in…
Read More50% increase to bankruptcy and liquidation fees
Just months after lifting the temporary restrictions on winding-up petitions, the Government has revealed plans that will make it harder for thousands of SMEs and microbusinesses to collect debts and force debtors into insolvency procedures. The Insolvency Service plans to hike in the cost of two key payments later this year. Firstly, the deposit a…
Read MoreThe looming insolvency crisis
Back in May, we warned that a wave of company failures would hit UK firms in the latter half of 2022. Just three months later, it appears the situation may be even grimmer than predicted. This week, reports revealed that corporate insolvencies were up more than 80% in the past quarter compared to 2021. This…
Read MoreMcDonald’s profits as UK restaurants flounder
American fast food chain McDonald’s recently announced plans to increase the price of some items on their UK menu. In a carefully-worded statement, McDonald’s U.K. and Ireland CEO, Alistair Macrow claimed that: “Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising…
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