Compulsory Liquidation
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Jan- 2024 -16 JanuaryLatest News
Today’s news in brief – 16/1/2023
Corporate insolvencies have dropped by 18.9% in December 2023 to 2,002, compared to November’s 2,470. However, they increased by 1.9% from December 2022. The types included 153 compulsory liquidations, 1,731 creditors’ voluntary liquidations (CVLs), 103 administrations, and 15 company voluntary arrangements (CVAs). Although CVL numbers were higher than in 2022,…
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16 JanuaryCorporate Finance
Corporate insolvencies decreased by 18.9% in December 2023
Corporate insolvencies decreased by 18.9% in December 2023 to a total of 2,002 compared with November’s total of 2,470, and increased by 1.9% compared with December 2022’s figure of 1,965, according to the latest figures from the Office for National Statistics (ONS). The company insolvencies consisted of 153 compulsory liquidations,…
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Apr- 2022 -1 AprilBusiness
Compulsory liquidations surge 76% in last three months
Compulsory liquidations of struggling UK businesses have surged 76% from 139 to 245 in the last three months, according to Mazars. The firm said that even more liquidations are expected in the next three months as the last temporary Government measure to protect companies from insolvency during the pandemic expires…
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Mar- 2022 -30 MarchAccounting Firms
Tilney Smith & Williamson invests in Bristol office with raft of promotions
Tilney Smith and Williamson has continued to invest in its Bristol office with a significant new appointment and a raft of promotions in its restructuring and recovery and advisory consulting teams. Experienced restructuring specialist Nigel Fox joins the firm as a director. He gained his experience initially at a Big…
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Sep- 2021 -21 SeptemberAccounting Firms
Company insolvencies jump 71% in August
Registered company insolvencies across England and Wales spiked 71% year-on-year to 1,348 in August 2021. The figure, which was slightly below August 2019’s 1,366 insolvencies, consisted of 1,256 CVLs, 35 compulsory liquidations, two CVAs, and 55 administrations. This represented a year-on-year climb of over 50% for both CVLs and compulsory…
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Jun- 2021 -18 JuneAdministrations
Company insolvencies rise 7% in May
The number of company insolvencies across England and Wales in May rose 7% year-on-year to 1,011. Despite representing the first year-on-year increase in 2021, the figure remained 25% lower than May 2019 levels. The company insolvencies throughout England and Wales consisted of 31 compulsory liquidations, 930 CLVs, six CVAs, 43…
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Apr- 2021 -21 AprilInterviews
Can reform fix the UK’s auditing crisis?
Auditing in the UK, as well as its reputation globally, has been tarnished by a slew of scandals committed by some of the country’s ‘Big Four’ key players within the accountancy sector. Major misconducts, such as the collapse of Carillion and EY’s Wirecard scandal, have put the industry on the…
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Jan- 2021 -5 JanuaryLatest News
Clothing director banned over unpaid tax
Surinder Singh, the director of a women’s clothing manufacturer, Lady Fashion, has been banned from acting as a company director for a total of six years, after failing to pay a tax bill of £98,000. The company was incorporated in September 2017, but entered into compulsory liquidation in July 2019…
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Sep- 2019 -18 SeptemberHMRC
Restaurateurs disqualified for failing to pay £4m in taxes
Two restaurateurs from Glasgow have been banned for a total of 17 years after they caused a loss to HMRC of more than £4m in unpaid taxes. Sukdev Gill signed a disqualification undertaking for eight years after he did not dispute that over six years, he caused companies he was…
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