Insolvency

Surge in UK Business Closures Ahead of New Tax Increases and Minimum Wage Hikes

9 hours ago

In the lead-up to significant tax increases and a raise in the minimum wage, the United Kingdom is witnessing a concerning spike in business closures. Many enterprises are struggling to adapt to the financial pressures posed by the impending policy changes, leading to an uptick in insolvencies across various sectors.

Hungary's Central Bank Foundations Face Looming Insolvency Crisis

15 days ago

In a startling revelation, Hungary’s National Bank has announced that several central bank foundations are on the verge of insolvency. This alarming news raises concerns not only within the financial sector but also amongst the public who rely on these institutions for stability.

Mass Layoffs Loom at Fintech Lender Stenn Following Collapse

4 months ago

In a shocking turn of events, Stenn, the recently collapsed fintech lender, has confirmed that a majority of its employees will be terminated as the company wraps up its operations. This news comes after Stenn encountered significant financial difficulties, leading to its abrupt downfall amidst shifts in the financial technology landscape.

KTM's Insolvency Filing Triggers Sharp Decline in Pierer Shares

4 months ago

Shares of Pierer Mobility abruptly dropped as investors reacted to the news of its subsidiary, KTM AG, filing for insolvency in Austria. This announcement has not only caused concern among stakeholders but has also raised questions regarding the long-term stability and financial health of the company.

The Impact of Northvolt’s Troubles on Sweden’s Rising Bankruptcy Rates

5 months ago

In a troubling trend for Sweden’s economy, the country has seen a significant surge in bankruptcy filings, particularly in October 2024. This spike in insolvency is closely linked to the ongoing financial difficulties faced by Northvolt, a key player in Sweden's burgeoning battery industry.

Colombia's Home Building Crisis Leads to Surge in Corporate Insolvencies

5 months ago

In a troubling turn of events, Colombia is witnessing a significant spike in corporate insolvencies, particularly in the home construction sector, against the backdrop of rising interest rates and inflationary pressures. As the economy grapples with these challenges, industry experts are warning that the current wave of bankruptcies could reach the highest levels seen in nearly a decade.

Supreme Court's Denial of Byju's Settlement Opens the Door to Insolvency Proceedings

5 months ago

In a significant legal development, the Supreme Court has turned down a settlement proposal put forth by Byju's, India's largest ed-tech company, amplifying concerns surrounding its financial stability and potential insolvency. This ruling marks a pivotal moment for Byju's, which has been grappling with severe financial strains and decreasing investor confidence over the recent months.