In the year to 31 March 2022, 1,302 restaurant businesses became insolvent, up from 926 the previous year (a 41% increase), according to data obtained by accountancy firm Price Bailey.
The end of Covid support measures
At the start of the pandemic, it was widely assumed that lockdown would result in a significant increase in both corporate and personal insolvencies, but this has not materialised due to unprecedented financial support
The UK government has said HMRC will take a “cautious approach” to enforcement of debt owed to the government accrued during the pandemic.
The business secretary, Kwasi Kwarteng, stated that "HMRC enforcement during
DROs are a type of formal personal insolvency in England and Wales, sitting alongside bankruptcies and IVAs (Individual Voluntary Arrangements).
DROs tend to be a low cost solution aimed at people who have smaller amoun
As reported by Eater London, the recent survey, conducted by UK Hospitality and on-trade data analyst CGA, found that over 75% of restaurants, pubs and bars in the UK fear not being able to pay their bills over the next
According to new research undertaken by insolvency and restructuring trade body R3, the proportion of North East retail businesses facing a raised risk of insolvency in the next year has fallen.
R3's research found that
"In light of recent developments at Thomas Cook we are considering whether there is any case for investigation and enforcement action as a matter of urgency and in cooperation with the Insolvency Service," an FRC spokesper
The number of transport businesses in Yorkshire that experienced an elevated risk of insolvency fell in May, according to trade body R3.
The proportion of transport companies in the region deemed to be at higher than av
The number of businesses that became insolvent in the first three months of 2019 rose by 6.3% compared to the previous quarter.
The labour intensive construction, administration and retail sectors, are all struggling wi
There has been a month-on-month fall in the proportion of Yorkshire businesses at greater than average risk of insolvency, according to research by R3.
The insolvency and restructuring trade body surveyed 11 sectors in