Speaking following the publication of new borrowing figures put out by the Bank of England yesterday, Liberal Democrat trade spokesman Vincent Cable warned that the increased borrowing could lead to ‘negative equity repossessions and record levels of bankruptcy.’
He added that householders should prepare for ‘an almighty crash’.
Figures published by the Bank of England yesterday found personal debt had soared to a record £10bn in June, increasing 13% on last year, at the fastest pace since 1990.
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
Smith & Williamson has been appointed administrators of charity 4Children