 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS UK companies struggle under debt  Over 123,000 UK companies are struggling with liabilities collectively valued at £58 billion, as 123,361 companies experienced "significant" or "critical" financial distress in the third quarter of 2010, signaling that corporate insolvencies may be expected. Although the number of companies experiencing distress has fallen by ten per cent compared to the third quarter of 2009, the rate of recovery remains the slowest for five quarters, according to figures released by Begbies Traynor. Ric Traynor, executive chairman of the professional services company, said: "The £57.5 billion of liabilities still at risk of default by businesses in distress remains a very real and potentially far-reaching threat to creditors and to a smooth economic recovery." Earlier this week, Liverpool-based property investment firm Ethel Austin Investment Properties entered administration and the process will be managed by business consultancy firm Deloitte. The company is engaged directly or indirectly in a total of 86 joint ventures, concerning around 300 properties. Posted by Gaby Hamerton 
Related Articles: 8/5/2012 - More companies fail as personal insolvencies fall 23/4/2012 - Landlords and insurers unite behind insolvency law reform 19/4/2012 - Enterprise Act 'does not need radical overhaul' 13/4/2012 - Retail insolvency rate up 15% as rent payments bite 28/3/2012 - Business insolvencies on the rise More Insolvency & Restructuring News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |