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Low levels of insolvency figures in August mask soaring redundancies and companies unable to pay make redundancy payments
Gareth Harris

16 September 2020

The UK insolvency statistics for August 2020 show that corporate insolvency levels remain at very low levels, some 43 percent lower than in August 2019 (1,369 August 2019, 778 August 2020).

Major hire expands RSM's Restructuring Advisory capability
Janet Burt

18 August 2020

Leading audit, tax and consulting firm RSM has appointed Janet Burt as a partner to grow and enhance the firm’s restructuring advisory team.

Insolvencies lower than last year due to government support, but debt is increasing dramatically
Gareth Harris

14 August 2020

Despite the what is now officially a recession, a wave of money and government support totalling over £83bn (furlough and loan schemes only) is still keeping UK companies afloat, but corporate debt levels are soaring as a result.

RSM advises on deal for County Durham manufacturing businesses
Keith Marshall

14 August 2020

RSM has been successful in agreeing a deal with a Swedish based manufacturer (Dellner Bubenzer Group) to acquire the majority of the business and assets of Romag and Romag PPM, saving over 100 jobs in Country Durham.

Janet Burt

Partner

Janet is a restructuring specialist and is an insolvency practitioner based in London. She has a breadth of restructuring and insolvency experience spanning 25 years with the execution of formal appointments, leading advisory teams as well as senior project management for a variety of stakeholders in distressed situations.

Job losses are expected to rise but how many businesses can afford the cost of redundancies?
Lindsey Cooper

31 July 2020

As the Coronavirus Job Retention Scheme comes to end and short-term funding boosts run out, we are starting to see the inevitable - restructuring by companies as they look to downsize and align themselves to a post-Covid market.

Mixed bag in personal insolvencies as debtors take responsibility for their finances
Alec Pillmoor

30 July 2020

The number of individuals entering a personal insolvency procedure has increased by approximately 12 per cent compared with the previous quarter.

The figures, released by the Insolvency Service today, reveal that there were 32,153 individuals entering either bankruptcy (2,415), a debt relief order (4,806) or an individual voluntary arrangement or IVA (24,932) in the second quarter (Q2) of 2020.

Contractual Suppliers - restriction on right to enforce termination clauses in supply contracts by reason of customer insolvency
Lindsey Cooper

21 July 2020

The Corporate Insolvency and Governance Act 2020, which came into force of 26 June 2020, contains a ban on the operation of termination clauses in supply contracts for the supply of goods and services because the company receiving the supplies has entered an insolvency procedure (known as Ipso Facto clauses). It also prevents supplier companies from doing “any other thing” in respect of that supply contract, including varying the terms of the contract, increasing prices or seeking to enforce a guarantee.

£25m funding package secured for national care provider, Creative Support, led by RSM debt advisory team
Greg Moreton

13 July 2020

Leading audit, tax and consulting firm RSM has successfully helped Creative Support with a new £25m re-financing deal, providing the national not-for-profit organisation with a sustainable funding structure for long-term security and growth.

Higher Education needs to consider all options from mergers to insolvency in the current climate
Lindsey Cooper

09 July 2020

The recent report from the Institute for Fiscal Studies paints a fairly gloomy picture for Higher Education and identifies that up to thirteen establishments may be at risk of insolvency.

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