Insolvency Service investigations will be reduced as part of a department
reduction in costs, the body said today.
The body has not revealed how many investigations will be cut or how the
spending will be reduced. The cuts comes as the the government reins in public
The Service is a division of the government’s Business Innovation and Skills
department which is due to reduce running costs by £100m in 2010-11.
Stephen Speed, CEO at the Insolvency Service, said it was “inevitable”
spending cuts would lead to a reduction in the number of investigations.
He said there would be no planned staff redundancies.
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