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News and Insights

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...

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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...

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Insolvency professionals welcome clampdown on rogue directors

Government plans to clamp down on directors who dissolve companies to avoid paying workers or pensions have been welcomed by insolvency practitioners in the North West. The proposals, which were announced on Sunday and represent the biggest changes to the corporate...

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Cost of food is most likely reason families struggle to payday

Three in ten adults in the North West (29%) struggle to reach payday – with the cost of food most likely to be the cause of this, according to research by the insolvency trade body R3. Its latest survey shows that almost half (48%) of adults living in the region who...

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R3

Business insolvencies continue upward trend

The number of business insolvencies continued its upward trend in the second quarter of the year, according to the latest official figures released today. While the number of insolvencies was down by 12% compared to the first quarter – when the figures reached a...

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Young women in North West most likely to become insolvent

The number of personal insolvencies in the North West Increased for the second year running in 2017 - with women being more likely than men to be affected, according to government figures released today. They show that over half (55.2%) of those who became insolvent...

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Jean is new chair of R3 North West women’s group

The R3 North West Women’s Group, which represents female insolvency and restructuring professionals in the region, has appointed Jean Boldero as its new chair. Jean, who is a legal director with Addleshaw Goddard’s restructuring team in Manchester, takes over from...

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1 in 5 North West companies are victim of ‘domino effect’

Around one in five, (19%) of Northern companies may have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3, the insolvency and restructuring trade body. The figures are...

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Ladies’ lunch raises over £3,700 for Mustard Tree

The R3 Ladies’ Lunch, which was held at the Lowry Hotel in Salford and was once again a sell-out, has raised over £3,700 for charity – its second-highest amount ever! The money will go to the Mustard Tree, which helps those facing homelessness, and will allow three...

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CVA process in need of reform, says R3

A leading North West insolvency practitioner is calling for reforms to improve the effectiveness of CVAs, a common restructuring process used by high street retailers. House of Fraser has become the latest in a string of retailers to have proposed or entered a CVA and...

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Business insolvencies at highest level for four years

Company insolvencies in the first quarter of the year rose by 13% in real terms on the previous quarter to reach the highest level in four years, according to the latest official figures released today. The figures show that excluding one-off ‘bulk insolvency events’,...

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