ICSM Business News: only one in three restaurants and bars make a profit while insolvencies rise by 41% as Brexit, Covid and Inflation bite

Image - FT

ICSM Business News: only one in three restaurants and bars make a profit while insolvencies rise by 41% as Brexit, Covid and Inflation bite

ICSM BUSINESS NEWS: insolvency experts continue to unravel complex intercompany loans at Howard Hunt – three years after they went bust owing millions

ICSM BUSINESS NEWS: insolvency experts continue to unravel complex intercompany loans at Howard Hunt – three years after they went bust owing millions

ICSM Business News for the Print and Allied Trades: acquisitions, insolvencies and the industry’s first vegan print firm is liquidated

ICSM Business News for the Print and Allied Trades: acquisitions, insolvencies and the industry’s first vegan print firm is liquidated 

ICSM Business News: Holy cash! SPAC Nation Church wound up over a lack of financial transparency of £1.87 million

ICSM Business News: Holy cash! SPAC Nation Church wound up over a lack of financial transparency of £1.87 million by the Insolvency Service

ICSM Business News: six major firms reported to be targeted by short sellers in a retail trade article - could the unthinkable be about to happen?

ICSM Business News: six major firms reported to be targeted by short sellers in a retail trade article - could the unthinkable be about to happen? 

OPINION: inflation, strikes and a stagnant economy - no it’s not back to the 1970s it’s worse than that because of these reasons

Insolvencies surge with figures higher than 2021 - plus a list of some recent liquidations

Insolvencies surge with figures higher than 2021

Questions raised after online drinks firm Spirit Ed collapsed into administration with £15 MILLION POUNDS in losses

Questions raised after online drinks firm Spirit Ed collapsed into administration with £15 MILLION POUNDS in losses

ICSM on more pre-packs: Covid-hit firms have woken up to an economic slump, rising interest rates and double digit inflation

ICSM on more pre-packs: Covid-hit firms have woken up to an economic slump, rising interest rates and double digit inflation

ICSM PRINT INDUSTRY NEWS: Fire at Smuffit Kappa site in Brum sees shares tumble but recover after the paper mill is saved

Pic: Sky News

ICSM PRINT INDUSTRY NEWS: Fire at Smuffit Kappa site in Brum sees shares tumble but recover after the paper mill is saved

ICSM BUSINESS INSOLVENCY NEWS: customers and creditors lose out as Teneo refuses to pay refunds or settle debts following collapse of Missguided

ICSM BUSINESS INSOLVENCY NEWS: customers and creditors lose out as Teneo refuses to pay refunds or settle debts following collapse of Missguided

Ex-Newcastle United and Liverpool footballer Danny Guthrie hit by bankruptcy restrictions over financial irregularities

Pic: Newscastle United FC

ICSM INSOLVENCY BUSINESS NEWS: Ex-Newcastle United and Liverpool footballer Danny Guthrie hit by bankruptcy restrictions over financial irregularities

ICSM's June 2022 Newsletter with stories on firms who have gone or going bust and a list of recent liquidations

ICSM's June 2022 Newsletter with stories on firms who have gone or going bust and a list of recent liquidations 

National newspaper is shamed online by Jack Monroe and other freelance writers who claim they wait months to be paid – while the publication lambasts a culture of late payment

National newspaper is shamed online by Jack Monroe and other freelance writers who claim they wait months to be paid – while the publication lambasts a culture of late payment

YM Printing Group: ‘What a MESS,’ as millions are owed to suppliers in ‘Polestar’ type collapse

Where it started to go wrong with the DM contract. Pic: Print Week

YM Printing Group: ‘What a MESS,’ as millions are owed to suppliers in ‘Polestar’ type collapse

Doomsday scenario outlined by FSB for small firms if the chancellor fails to support them as the economy crashes

Doomsday scenario outlined by FSB for small firms if the chancellor fails to support them as the economy crashes

Suppliers apply for a compulsory liquidation order in court for troubled online fashion store that is teetering on the brink of collapse

Suppliers apply for a compulsory liquidation order in court for troubled online fashion store that is teetering on the brink of collapse

ICSM NEWS: Young fundraisers could lose all their cash as sustainable development charity Raleigh International goes bust owing suppliers, staff and teenagers tens of thousands of pounds

ICSM NEWS: Young fundraisers could lose all their cash as sustainable development charity Raleigh International goes bust owing suppliers, staff and teenagers tens of thousands of pounds

Huge rise in insolvencies as firms struggle with debts and repaying Covid loans

Huge rise in insolvencies as firms struggle with debts and repaying Covid loans

Reforming Insolvency Laws ‘can’t come soon enough’ as a court shuts down rogue Individual Voluntary Arrangement firm

Reforming Insolvency Laws ‘can’t come soon enough’ as a court shuts down rogue Individual Voluntary Arrangement firm

As economies dip heralding a bear market the cryptocurrency bubble bursts as values slide in virtual currencies

Pic: Deseret News

As economies dip heralding a bear market the cryptocurrency bubble bursts as values slide in virtual currencies

Morrisons confirmed as the new owner of beleaguered McColls – but doubts remain over the viability of some of the stores and whether all suppliers will be paid

Pic: Convenience store

Morrisons confirmed as the new owner of beleaguered McColls – but doubts remain over the viability of some of the stores and whether all suppliers will be paid

Mags, Fags and McColls: convenience store empire with 16,000 staff on the brink of administration as the 'public stop buying cigarettes and newspapers'

Picture: Scottish Business Insider

Mags, Fags and McColls: convenience store empire with 16,000 staff on the brink of administration as the public 'stop buying cigarettes and newspapers'

Concerns mount over the future of Lettershop as the landlord steps in at the printing firm’s Leeds site following the collapse of YM Group

Concerns mount over the future of Lettershop as the landlord steps in at the printing firm’s Leeds site following the collapse of YM Group

Insolvency firm Begbies Traynor: huge rise in companies hitting the rocks this year as insolvencies rise due to post Covid hangover, inflation and the problems caused by Brexit

Insolvency firm Begbies Traynor: huge rise in companies hitting the rocks this year as insolvencies rise due to post Covid hangover, inflation and the problems caused by Brexit

Drama college was ‘potentially insolvent’ while banking fees from students days before collapse

Pictured in The Stage some of the students affected by the closure of ARLA

Drama college was ‘potentially insolvent’ while banking fees from students days before collapse

Game, set and prison: the downfall of Boris Becker for a crime many corrupt business-people commit who think they can rip off creditors and get away without paying their debts

Boris Becker arrived at court with his partner Lilian de Carvalho Monteiro. Pic: PA

Game, set and prison: the downfall of Boris Becker for a crime many corrupt business-people commit who think they can rip off creditors and get away without paying their debts

BROKE: The return of Crown Preference scuppers more Company Voluntary Arrangements (CVAs) as the Government seeks to claw back unpaid tax from insolvent companies - and everyone loses out

BROKE: The return of Crown Preference scuppers more Company Voluntary Arrangements (CVAs) as the Government seeks to claw back unpaid tax from insolvent companies - and everyone loses out

Warnings were ignored by the Government over Covid bank loans as The Times reveals billions lost in fraud

Warnings were ignored by the Government over Covid bank loans as The Times reveals billions lost in fraud

Parliament: Five recommendations to tame the ‘Wild West’ of the insolvency industry after scandals that have cost suppliers, workers, and tax payers billions

Pic: BBC

Parliament: Five recommendations to tame the ‘Wild West’ of the insolvency industry after scandals that have cost suppliers, workers, and tax payers billions

YM Collapse: workers left unpaid, anger at directors, calls for an investigation – and Printweek praised for keeping industry informed

YM Collapse: workers left unpaid, anger at directors, calls for an investigation – and Printweek praised for keeping industry informed

ICSM NEWS: Stamford Paper’s meeting with creditors set for April 28th as another big name in manufacturing hits the buffers

ICSM NEWS: Stamford Paper’s meeting with creditors set for April 28th as another big name in manufacturing hits the buffers

The UK arm of Russia’s second-biggest bank goes bust as more Russian firms are sanctioned with staff and suppliers hit

Pic: Reuters

The UK arm of Russia’s second-biggest bank goes bust as more Russian firms are sanctioned with staff and suppliers hit

Game, set and stash: when stashing cash away from the Insolvency Service and hiding assets as your creditors close in can end in court (and even prison)

German national Boris Becker arrives at court with partner Lilian de Carvalho Monteiro. Pic: Reuters for the BBC

Game, set and stash: when stashing cash away from the Insolvency Service and hiding assets as your creditors close in can end in court (and even prison)

Welcome to ICSM

Welcome to ICSM's April Newsletter

Gazprom set to be nationalised as energy sector’s collapse continues

Gazprom set to be nationalised as energy sector’s collapse continues 

No April Fool’s Joke: three of YM Group’s companies enter administration after days of confusion leaving workers and suppliers unpaid

No April Fool’s Joke: three of YM Group’s companies enter administration after days of confusion leaving workers and suppliers unpaid

YM latest: Print Week reports on the collapse in confidence at YM Chantry as work stops

YM latest: Print Week reports on the collapse in confidence at YM Chantry as work stops

ICSM WARNING: The fake debt collection companies are back - promising creditors they can recoup written off debts

ICSM WARNING: The fake debt collection companies are back - promising creditors they can recoup written off debts

Print Week: crisis at York Mailing as the major printing company teeters on the brink of collapse as a creditor blockades site

Print Week: crisis at York Mailing as the major printing company teeters on the brink of collapse as a creditor blockades site

The clock is ticking for the YM Group’s ‘fast track sale’ as the end of the financial year ends – reveals Print Week

The clock is ticking for the YM Group’s ‘fast track sale’ as the end of the financial year ends – reveals Print Week

P&O Ferries: a massive PR disaster - when there were legal (and common sense) options to take to turn the firm around

P&O Ferries: a massive PR disaster - when there were legal (and common sense) options to take to turn the firm around

ICSM News: the retailers who have gone bust this year despite Covid regulations relaxed

Pic: Daily Record

ICSM News: the retailers who have gone bust this year despite Covid regulations relaxed

Another business bites the dust as the fall out from the Russian invasion of Ukraine continues

Another business bites the dust as the fall out from the Russian invasion of Ukraine continues

ICSM on Company Voluntary Arrangements as retailer Ann Summers exits its CVA after increasing its online retailing

ICSM on Company Voluntary Arrangements as retailer Ann Summers exits its CVA after increasing its online retailing

ICSM NEWS: Russian businesses are in trouble and the Oligarchs have nowhere to berth their super yachts - concerns mount if they can pay their suppliers

ICSM NEWS: Russian businesses are in trouble and the Oligarchs have nowhere to berth their super yachts - concerns mount if they can pay their suppliers

How the Ukraine crisis will hit your business - and what you can do about it

How the Ukraine crisis will hit your business - and what you can do about it

New service from ICSM for members: company strike off alerts

New service from ICSM for members: company strike off alerts

Chancellor Rishi Sunak’s wife Akshata Murthy takes a hit as the leisure firm she backs calls in the administrators

Akshata Murthy and husband Rishi Sunak. Pic: The Mirror

Chancellor Rishi Sunak’s wife Akshata Murthy takes a hit as the leisure firm she backs calls in the administrators

Retreat from the Russian Bear: concerns mount over the potential collapse of Russian firms as sanctions hit the oligarchs 

It's happened before in history - Russia has invaded its neighbours before

Retreat from the Russian Bear: concerns mount over the potential collapse of Russian firms as sanctions hit the oligarchs 

Printing, sign-makers and hauliers hit by the collapse of retail chain stores in 2021

Printing, sign-makers and hauliers hit by the collapse of retail chain stores in 2021

Liberty Steel firms could collapse as they are served with winding up orders threatening thousands of jobs in England

Sanjeev Gupta  Pic: BBC

Liberty Steel firms could collapse as they are served with winding up orders threatening thousands of jobs in England

The end of furlough, Covid loans due to be repaid and a rise in material and machinery costs see a number of printers and sign-makers go bust

The end of furlough, Covid loans due to be repaid and a rise in material and machinery costs see a number of printers and sign-makers go bust

Brexit border controls creating delays, increased costs and economic problems for the logistics industry (including liquidations) plus chaos for Northern Ireland

 

Brexit border controls creating delays, increased costs and economic problems for the logistics industry (including liquidations) plus chaos for Northern Ireland

Businesses face thousands of pounds in a hike in energy costs while Bulb Energy are bailed out by the tax payer with a loan of £1.7 billion

Businesses face thousands of pounds in a hike in energy costs while Bulb Energy are bailed out by the tax payer with a loan of £1.7 billion

NEW: Be the first to know if your client is in trouble with the notification of intent to strike them off with a 652 notice

NEW: Be the first to know if your client is in trouble with the notification of intent to strike them off with a 652 notice

Viability of tens of thousands of businesses in the balance - all caused by rising levels of late payment

Pic: Construction Executive

Viability of tens of thousands of businesses in the balance - all caused by rising levels of late payment

Midas touch deserts the Midas Group as the construction firm teeters on the brink of collapse

Midas touch deserts the Midas Group as the construction firm teeters on the brink of collapse

Print Show returns as the industry picks up the pieces following the last two years of Covid, lockdowns, downturns and a damaged economy

Print Show returns as the industry picks up the pieces following the last two years of Covid, lockdowns, downturns and a damaged economy

'Asset stripping' and 'willy waving' among the jibes levelled at Opus Trust Communications after the firm announces closure of its Nottingham site

'Asset stripping' and 'willy waving' among the jibes levelled at Opus Trust Communications after the firm announces closure of its Nottingham site

Print Week report on the sale of POP specialist Kesslers to GB Sign Solutions by the administrators following the firm’s collapse last year

Print Week report on the sale of POP specialist Kesslers to GB Sign Solutions by the administrators following the firm’s collapse last year

Energy crisis deepens as Together Energy collapses taking with it Bristol Energy leaving 176,000 customers in the lurch

Energy crisis deepens as Together Energy collapses taking with it Bristol Energy leaving 176,000 customers in the lurch

Print industry takes a hammering as furlough ends, Covid related loans are called in and past lockdowns hit cash flow forcing more firms to call it a day

Print industry takes a hammering as furlough ends, Covid related loans are called in and past lockdowns hit cash flow forcing more firms to call it a day

New year new concerns as city traders indulge in short-selling targeting well-known names

New year new concerns as city traders indulge in short-selling targeting well-known names

Authorities claw back fraudulent claims for CBILs, Bounce Back Loans, Furlough Payments and Covid-19 Support for Rural Businesses that see a string of convictions – but millions are still missing

Authorities claw back fraudulent claims for CBILs, Bounce Back Loans, Furlough Payments and Covid-19 Support for Rural Businesses that see a string of convictions – but millions are still missing

Suppliers to Jamie’s Italian received little from the £83million debt after collapse – but multi-millionaire Jamie Oliver gets £1.75m pay-off

PIC: FT

Suppliers to Jamie’s Italian received little from the £83million debt after collapse – but multi-millionaire Jamie Oliver gets £1.75m pay-off

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