North West firms had over 1.7 million overdue invoices on their books this summer, according to new research from R3, the UK’s insolvency and restructuring trade body.
Corporate and personal insolvency rates in England and Wales saw significant decreases in October 2024. Corporate insolvencies fell by 10.4% from September and 23.8% year-on-year, reflecting improved trading conditions and pre-emptive actions by directors ahead of potential tax changes. Personal insolvencies declined by 14.4% month-on-month and 1.6% year-on-year, though Debt Relief Orders (DROs) increased due to regulatory changes that made them more accessible.
In July 2024, corporate insolvencies in England and Wales fell by 7.3% from June but rose 15.9% year-on-year, while personal insolvencies saw a slight 0.2% decrease. Despite the monthly drop, corporate insolvencies remain high, highlighting ongoing financial pressures.
R3 in the North West responds to the April 2024 insolvency statistics.
North West liquidation debt levels rise by more than two-thirds, R3 research shows.
Plastic and Rubber Group (PAR), which ranked as the 10th most profitable SME in this magazine's most recent Hot 100 rankings, has been acquired by a fellow Lancashire business.
Accountants and business advisors Beever and Struthers advised the management team on the successful management buyout (MBO) of Manchester-based HFL Buildings Solutions Group (HFL), by founder and managing director Dave Saxton and other family members for an undisclosed sum.
Accountants and business advisors Beever and Struthers advised the management team on the successful management buyout (MBO) of Manchester-based HFL Buildings Solutions Group (HFL), by founder and managing director Dave Saxton and other family members for an undisclosed sum.
Business leaders are navigating a complex maze of challenges, from inflation to rising geopolitical tensions and the energy crises. At HLB Global, we are keen to help these leaders deal with such challenges and conduct an annual survey to gauge the current sentiment.
In a major survey, HLB assesses the mood of business leaders worldwide every year. As part of the company's fifth annual survey, HLB asked the leaders about various factors with some interesting results. So, how are these leaders navigating changes in the international business landscape? Furthermore, how quickly can they adapt to new technologies (including AI)?
First launched in 2020, the inaugural HLB Survey of Business Leaders focused on uncovering insights into the modern business landscape. Our latest survey draws responses from nearly 1,000 mid-market leaders across 50+ countries to shed light on critical challenges and opportunities for businesses today.
Over the past five years, HLB has published annual surveys of business leaders to offer a comprehensive view of the modern business landscape. Our 2024 survey features responses from nearly 1,000 leaders across 50+ countries and six in-depth expert interviews. Within this extensive dataset, 152 respondents are from the manufacturing sector, offering valuable insights into the industry's challenges and opportunities.
