Companies House has seen a significant increase in new business incorporations in the last two years. Around 800, 000 to be exact. But as an any credit analyst will tell you, the majority of companies that fail do so in their first two years of existence. So for a large number of new companies, the economic downturn and credit crunch have come at exactly the wrong time. Graydon will be keeping its eye on the liquidation statistics as they roll out through the year, and check to see just how many of the failures are newly incorporated concerns. Our assessment of the situation is that 2008 is not a good time to be young!!
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies