Interpath Advisory (Ireland)’s Post

📈 Record High Business Insolvencies in 2023 💡 Insights from Stephanie Buckley, Director of The Insolvency Company were shared over the weekend in The Observer (now sister paper to The Guardian). 🌱 Early Conversations Matter: At The Insolvency Company, we're here to help businesses navigate financial challenges. Initiating conversations at an early stage increases the chances of turning things around. 💬 #Insolvency #BusinessSupport #KeepingBusinessOwnersInBusiness #CorporateInsolvencies #FinanceNews #Somersetnews #Somersetcountygazette Link here 👇 https://lnkd.in/eZqa6SEq

Vindication + Compensation = Closure After 757 days in court it’s finally over. 💪 We Won 💪 Lessons Learned: 1. Never go into a business partnership without an executed “Partnership Agreement” in place before the doors open 2. Always perform professional due diligence and make sure that your business partner is economically viable and doesn’t have exorbitant debt going into the business venture 3. Always perform personal due diligence and make sure your future business partner doesn’t have any substance abuse issues, legal issues or gambling problems 4. Make sure all business finances are transparent between the partners and that all accounting is proper and accounted for. If you HAVE TO ASK your partner to see any financials regarding the business and they make excuses then there is a good chance something nefarious is going on RIP and good riddance to Pop Freak Collectibles in Red Bank, New Jersey 👏 (and good luck to the new store “Giselle” that’s opening up in it’s place) Thank you to our lawyers and all those who have supported us through this ordeal. You know who you are. 😉💪❤️ Here is the final redacted judgement

R3, the UK’s insolvency and business restructuring trade body, has warned ⚠ that corporate insolvencies are probably going to remain high 🆙 during 2024. However, Neil Stewart, chairman of R3’s Southern & Thames Valley region, remains cautiously optimistic that economies for businesses will improve as inflation has fallen faster than expected, boosting business and consumer confidence. https://lnkd.in/g6d3cHVa #R3 #InsolvencyTradeBody #CorporateInsolvencies #BusinessConfidence

Excellent coverage by The Business Magazine over how insolvency-related activity has increased marginally in the South East after three months of decreases, says R3, the UK’s insolvency and restructuring trade body.   Latest figures showed a slight rise in insolvency-related activities from 202 in November to 225 in December – these include administrator and liquidator appointments together with creditors’ meetings. This figure is also marginally down on the figure of 235 in December 2022.   R3 has warned that current economic pressures remain a big challenge for businesses, following its analysis of data about insolvencies and start-ups supplied by business intelligence provider Creditsafe. Neil Stewart, pictured, chairman of R3’s Southern and Thames Valley region, said: “The regional picture remains uneven with December’s rise in insolvency-related activities suggesting that some beleaguered business owners may have ceased trading as the year drew to a close." Thanks to Daniel Face for publishing. https://lnkd.in/errJDiqR

“Insolvencies are a natural part of a healthy economic ecosystem. And the surge in insolvencies also represents a weeding out of zombie businesses kept alive during the pandemic.” Andrew Spring provided his insights to Andrew Taylor at the The Sydney Morning Herald about the surging number of failing businesses – and he says the Federal Government could play a role in destigmatising the insolvency process. Read more here: https://lnkd.in/gBWPT5BF #insolvency #businessturnaround #restructuring #jirschsutherland #smallbusiness #accountants #accountantsandaccounting

The rise in company failures, exceeding 25,000 for the first time in 15 years, paints a concerning picture for the UK economy in 2024. As Nicola Clark from Azets rightly points out, the construction and leisure & hospitality sectors face significant headwinds, potentially leading to further insolvencies in the coming months. At Debt-Claims Solicitors, we're here to help businesses of all sizes navigate these financial challenges. Whether it's managing outstanding debts, restructuring operations, or exploring insolvency options, our experienced team offers tailored advice and solutions. Greater Birmingham Chambers of Commerce https://lnkd.in/gBetakjR

The latest insolvency statistics highlight that the downturn in the UK economy is still taking a significant toll. 📉 Paul Bagon, William Beck and Harriet Ainsworth outline the the options available for a company facing financial difficulties. #RetailTherapy #Retail #ESG #Companies #Corporate #FinancialNews #Insolvency #Recession

SCOTT’S CHART OF THE WEEK This week we break down the 2,177 corporate insolvencies in February by sector and also look at insolvencies by sector for the first two months of 2024. The story so far in 2024 is much of the same. Once again the construction sector leads the way in terms of the number of insolvencies. The accommodation and food service sector then wholesale and retail trade; repair of motor vehicles and motor cycles sector closely folllw in second and third respectively and are pulling away from other sectors once again. With another drop in corporate insolvencies in March with only 1,815 insolvencies for the month, it seems like the current headlines will continue. Although it is worth noting it seems like insolvencies are slowing down comparing current insolvency levels to those 12 months ago. #insolvenxy #businessrecovery #restructuring #turnaround #business #finance #debt #accountant #london

While 1 in 5 Australian businesses are going great guns, we know a lot of small businesses are still hurting. Last month alone, 92 businesses in NSW closed their doors. We are here to provide commercially astute, ethical finance for businesses who need it. Get in touch to start the conversation. #princecapital #sydney #finance #sydneybusiness #sydneyrealestate

Corporate insolvencies reach a decade high in Australia, with a surge of businesses folding in construction, hospitality, and retail sectors. Rising borrowing costs, weaker consumer spending, and aggressive tax collection contribute to the spike. Read more: https://reut.rs/3Wc5BXI. #BusinessNews #Insolvency