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10% rise in business insolvencies

10% rise in business insolvencies

The number of corporate insolvencies rose by 10% in real terms in 2018 compared to the previous year, according to figures released today by the government’s Insolvency Service. They show that there were 16,090 business insolvencies during the year. While business...
Survey reveals debt struggles for North West firms

Survey reveals debt struggles for North West firms

One in six (16%) North West companies is just paying the interest on its debts, rather than repaying the debt itself, according to new research from the insolvency and restructuring trade body R3. R3’s latest Business Distress Index also found that 18% of North West...
1 in 3 in North West would struggle to pay an unexpected £50 bill

1 in 3 in North West would struggle to pay an unexpected £50 bill

One in three North West adults (32%) would find it somewhat difficult, very difficult or impossible to pay an unexpected bill of £50 immediately, without assistance from an external source, according to new research from the insolvency trade body R3. The research...
Figures reveal sharp fall in North West businesses number

Figures reveal sharp fall in North West businesses number

The number of active businesses in the North West fell by almost 5,000 in December, according to research by insolvency and restructuring trade body R3. The sharp drop – which is only the third fall in the past two years – is a further indication that the...
Pub numbers fall but jobs increase, new figures show

Pub numbers fall but jobs increase, new figures show

Almost one in four UK pubs have closed in the past decade with smaller, rural pubs being the worst affected, according to new figures from the Office of National Statistics. They show that in the North West, parts of East Lancashire have lost the greatest proportion...
Northern firms have highest insolvency rates, new figures show

Northern firms have highest insolvency rates, new figures show

Northern businesses have the highest insolvency rates in the country, according to new government figures which give a regional breakdown of insolvencies for the first time. The figures, released today, show that the North West is in third place in England and Wales...