https://www.reddit.com/r/LockdownSkepticism/comments/1bhrecg/death_by_a_thousand_cuts_uk_insolvencies_soar_17/
Death by a thousand cuts: UK insolvencies soar 17 per cent and exceed >pandemic levels
BY:JACK MENDEL
The Insolvency Service said the numbers of compulsory liquidations,
CVLs, and administrations were also higher than in February 2023.
Fresh insolvency figures painted a grim picture this morning, with a
number of companies going bust soaring by 17 per cent last month
compared to 2023.
The Insolvency Service said 2,102 companies went bust last month which
was a 17 per cent rise on the same period last year, which was at 1,801.
The government agency said this was higher than levels seen during the >pandemic while the government support measures were in place, with
things like the furlough scheme. It is also higher than pre-pandemic
figures.
Analysts blamed a mixture of high inflation and the sharp increase in >interest rates following the mini-budget, which increased costs of
borrowing, and encouraged Brits to tighten their purses.
The war in Ukraine, which Russia launched two years ago, has also placed
huge pressure on businesses energy costs and ability to pay rent.
It said this included 217 compulsory liquidations, 1,707 creditors
voluntary liquidations (CVLs), 166 administrations and 12 company
voluntary arrangements (CVAs).
The Insolvency Service said the numbers of compulsory liquidations,
CVLs, and administrations were also higher than in February 2023.
It also said that the number of insolvencies in February 2024 was
10,136, around 23 per cent higher than last year.
This comes as the UK entered a brief recession last month, but there are >already signs it had exited that period. This week it was reported the
UK took its first steps out of recession after the economy returned to
growth in January.
At the end of last month, S&Ps closely watched purchasing managers
index (PMI), also showed the UK economy made a stronger start to 2024
than major European economies.
Yet, many businesses have struggled with higher interest rates, which
have been on hold for some months now.
Millions of Brits are eagerly anticipating their fall, which is
anticipated later this year, but some in the Bank of Englands >decision-making MPC committee have been more hawkish. This week it was >reported that interest rate cuts are drawing ever nearer after new data >showed that slack continued to build in the labour market.
READ MORE
Why the Bank of England will keep interest rates on hold despite lower >inflation
Although almost every measure suggested a softer labour market than
expected, the downside surprises were small, which demonstrated the
labour market was still tight in historical terms.
Julie Palmer, a partner at Begbies Traynor, said the latest data paints
an unhappy picture for the state of the UK economy.
This environment is putting a huge amount of pressure on businesses and
the challenge business leaders now face will be insurmountable for many.
Julie Palmer,
After a decade of interest rates floating around zero, many businesses >simply were not prepared for higher interest rates for a sustained
period of time, having loaded up on cheap debt during the boom years,
Palmer said.
Sadly, the debt storm has now broken and this mornings data from the >Insolvency Service highlights how this macro-economic environment is
wreaking havoc on small and medium businesses across the country.
She added that the latest figures would discourage business owners who
had hoped interest rates might come down soon.
Daniel Staunton, a senior associate in the restructuring & insolvency
team at Kingsley Napley, warned that the facts dont lie.
Staunton said: When you speak to other professionals operating in the >restructuring and insolvency field they all report being busier which is >reflected in the increased numbers.
We can likely expect March 2024 stats to show another incremental
increase.
READ MORE
Pound Sterling makes strong start to 2024 as UK recovery from recession
to continue
He predicted that while new records continue to be broken he feared it >would be an ongoing trend and whilst we wont see tsunami levels, the
total number of insolvencies this year will ebb and flow like the tide.
Nicky Fisher, president at R3 warned that businesses are still
suffering the after-effects of last years economic turbulence.
Rising fuel, energy and funding costs and cautious consumer spending
are continuing to take their toll on bottom lines and make it harder for >businesses to break even, Fisher added.
After the pandemic era lockdowns; Brexit; staff shortages and rising
wage costs; spiralling fuel costs; high interest rates and inflation
eroding consumers spending power and confidence; and the contraction in >income implied by falling GDP , it is sad but unsurprising that company >insolvencies have increased.
Jeremy Whiteson,
While there is still some optimism among firms about what the next year
has in store, the economic conditions remain a key area of concern for
many and unless things improve, we could see more and more firms turning
to an insolvency process to help resolve their financial issues.
Meanwhile, Jeremy Whiteson, restructuring and insolvency partner at city
law firm, Fladgate warned that company failures can provoke wider
economic problems if that causes unemployment or lost production.
Whiteson said: Against this background, the increased figures are
worrying. There has been something of a death by a thousand cuts for
many businesses, citing the impact of the war in Ukraine, the aftermath
of Covid, Brexit changes and inflation.
On Mon, 18 Mar 2024 10:20:33 -0700, Michael Ejercito
<MEjercit@HotMail.com> wrote:
https://www.reddit.com/r/LockdownSkepticism/comments/1bhrecg/death_by_a_thousand_cuts_uk_insolvencies_soar_17/
‘Death by a thousand cuts’: UK insolvencies soar 17 per cent and exceed >> pandemic levels
BY:JACK MENDEL
The Insolvency Service said the numbers of compulsory liquidations,
CVLs, and administrations were also higher than in February 2023.
Fresh insolvency figures painted a grim picture this morning, with a
number of companies going bust soaring by 17 per cent last month
compared to 2023.
The Insolvency Service said 2,102 companies went bust last month which
was a 17 per cent rise on the same period last year, which was at 1,801.
The government agency said this was higher than levels seen during the
pandemic “while the government support measures were in place”, with
things like the furlough scheme. It is also higher than pre-pandemic
figures.
Analysts blamed a mixture of high inflation and the sharp increase in
interest rates following the mini-budget, which increased costs of
borrowing, and encouraged Brits to tighten their purses.
The war in Ukraine, which Russia launched two years ago, has also placed
huge pressure on businesses’ energy costs and ability to pay rent.
It said this included 217 compulsory liquidations, 1,707 creditors’
voluntary liquidations (CVLs), 166 administrations and 12 company
voluntary arrangements (CVAs).
The Insolvency Service said the numbers of compulsory liquidations,
CVLs, and administrations were also higher than in February 2023.
It also said that the number of insolvencies in February 2024 was
10,136, around 23 per cent higher than last year.
This comes as the UK entered a brief recession last month, but there are
already signs it had exited that period. This week it was reported the
UK took its first steps out of recession after the economy returned to
growth in January.
At the end of last month, S&P’s closely watched purchasing managers’
index (PMI), also showed the UK economy made a stronger start to 2024
than major European economies.
Yet, many businesses have struggled with higher interest rates, which
have been on hold for some months now.
Millions of Brits are eagerly anticipating their fall, which is
anticipated later this year, but some in the Bank of England’s
decision-making MPC committee have been more hawkish. This week it was
reported that interest rate cuts are drawing ever nearer after new data
showed that slack continued to build in the labour market.
READ MORE
Why the Bank of England will keep interest rates on hold despite lower
inflation
Although almost every measure suggested a softer labour market than
expected, the downside surprises were small, which demonstrated the
labour market was still tight in historical terms.
Julie Palmer, a partner at Begbies Traynor, said the latest data “paints >> an unhappy picture for the state of the UK economy”.
“This environment is putting a huge amount of pressure on businesses and >> the challenge business leaders now face will be insurmountable for many. “ >>
Julie Palmer,
“After a decade of interest rates floating around zero, many businesses
simply were not prepared for higher interest rates for a sustained
period of time, having loaded up on cheap debt during the boom years,”
Palmer said.
“Sadly, the debt storm has now broken and this morning’s data from the >> Insolvency Service highlights how this macro-economic environment is
wreaking havoc on small and medium businesses across the country.”
She added that the latest figures would discourage business owners who
had hoped interest rates might come down soon.
Daniel Staunton, a senior associate in the restructuring & insolvency
team at Kingsley Napley, warned that “the facts don’t lie”.
Staunton said: “When you speak to other professionals operating in the
restructuring and insolvency field they all report being busier which is
reflected in the increased numbers.
“We can likely expect March 2024 stats to show another incremental
increase.”
READ MORE
Pound Sterling makes strong start to 2024 as UK recovery from recession
to continue
He predicted that while “new records continue to be broken” he feared it >> would “be an ongoing trend and whilst we won’t see tsunami levels, the >> total number of insolvencies this year will ebb and flow like the tide.” >>
Nicky Fisher, president at R3 warned that “businesses are still
suffering the after-effects of last year’s economic turbulence”.
“Rising fuel, energy and funding costs and cautious consumer spending
are continuing to take their toll on bottom lines and make it harder for
businesses to break even,” Fisher added.
“After the pandemic era lockdowns; Brexit; staff shortages – and rising >> wage costs; spiralling fuel costs; high interest rates and inflation
eroding consumers spending power and confidence; and the contraction in
income implied by falling GDP , it is sad but unsurprising that company
insolvencies have increased.”
Jeremy Whiteson,
“While there is still some optimism among firms about what the next year >> has in store, the economic conditions remain a key area of concern for
many and unless things improve, we could see more and more firms turning
to an insolvency process to help resolve their financial issues. “
Meanwhile, Jeremy Whiteson, restructuring and insolvency partner at city
law firm, Fladgate warned that company failures can “provoke wider
economic problems if that causes unemployment or lost production”.
Whiteson said: “Against this background, the increased figures are
worrying. There has been something of a ‘death by a thousand cuts’ for >> many businesses”, citing the impact of the war in Ukraine, the aftermath >> of Covid, Brexit changes and inflation.
In the interim, we are 100% prepared/protected in the "full armor of
GOD" (Ephesians 6:11) which we put on as soon as we use Apostle Paul's
secret (Philippians 4:12). Though masking is less protective, it helps
us avoid the appearance of doing the evil of spreading airborne
pathogens while there are people getting sick because of not being
100% protected. It is written that we're to "abstain from **all**
appearance of doing evil" (1 Thessalonians 5:22 w/**emphasis**).
Meanwhile, the only *perfect* (Matt 5:47-8 ) way to eradicate the
COVID-19 virus, thereby saving lives, in the UK & elsewhere is by
rapidly (i.e. use the "Rapid COVID-19 Test" ) finding out at any given moment, including even while on-line, who among us are unwittingly
contagious (i.e pre-symptomatic or asymptomatic) in order to
"convince it forward" (John 15:12) for them to call their doctor and self-quarantine per their doctor in hopes of stopping this pandemic.
Thus, we're hoping for the best while preparing for the worse-case
scenario of the Alpha lineage mutations and others like the Omicron,
Gamma, Beta, Epsilon, Iota, Lambda, Mu & Delta lineage mutations
combining via slip-RNA-replication to form hybrids like "Deltamicron"
that may render current COVID vaccines/monoclonals/medicines/pills no
longer effective.
Indeed, I am wonderfully hungry ( https://groups.google.com/g/sci.med.cardiology/c/6ZoE95d-VKc/m/14vVZoyOBgAJ
) and hope you, Michael, also have a healthy appetite too.
So how are you ?
HeartDoc Andrew, in the Holy Spirit, boldly wrote:
On Mon, 18 Mar 2024 10:20:33 -0700, Michael Ejercito
<MEjercit@HotMail.com> wrote:
https://www.reddit.com/r/LockdownSkepticism/comments/1bhrecg/death_by_a_thousand_cuts_uk_insolvencies_soar_17/
Death by a thousand cuts: UK insolvencies soar 17 per cent and exceed
pandemic levels
BY:JACK MENDEL
The Insolvency Service said the numbers of compulsory liquidations,
CVLs, and administrations were also higher than in February 2023.
Fresh insolvency figures painted a grim picture this morning, with a
number of companies going bust soaring by 17 per cent last month
compared to 2023.
The Insolvency Service said 2,102 companies went bust last month which
was a 17 per cent rise on the same period last year, which was at 1,801. >>>
The government agency said this was higher than levels seen during the
pandemic while the government support measures were in place, with
things like the furlough scheme. It is also higher than pre-pandemic
figures.
Analysts blamed a mixture of high inflation and the sharp increase in
interest rates following the mini-budget, which increased costs of
borrowing, and encouraged Brits to tighten their purses.
The war in Ukraine, which Russia launched two years ago, has also placed >>> huge pressure on businesses energy costs and ability to pay rent.
It said this included 217 compulsory liquidations, 1,707 creditors
voluntary liquidations (CVLs), 166 administrations and 12 company
voluntary arrangements (CVAs).
The Insolvency Service said the numbers of compulsory liquidations,
CVLs, and administrations were also higher than in February 2023.
It also said that the number of insolvencies in February 2024 was
10,136, around 23 per cent higher than last year.
This comes as the UK entered a brief recession last month, but there are >>> already signs it had exited that period. This week it was reported the
UK took its first steps out of recession after the economy returned to
growth in January.
At the end of last month, S&Ps closely watched purchasing managers
index (PMI), also showed the UK economy made a stronger start to 2024
than major European economies.
Yet, many businesses have struggled with higher interest rates, which
have been on hold for some months now.
Millions of Brits are eagerly anticipating their fall, which is
anticipated later this year, but some in the Bank of Englands
decision-making MPC committee have been more hawkish. This week it was
reported that interest rate cuts are drawing ever nearer after new data
showed that slack continued to build in the labour market.
READ MORE
Why the Bank of England will keep interest rates on hold despite lower
inflation
Although almost every measure suggested a softer labour market than
expected, the downside surprises were small, which demonstrated the
labour market was still tight in historical terms.
Julie Palmer, a partner at Begbies Traynor, said the latest data paints >>> an unhappy picture for the state of the UK economy.
This environment is putting a huge amount of pressure on businesses and >>> the challenge business leaders now face will be insurmountable for many. >>>
Julie Palmer,
After a decade of interest rates floating around zero, many businesses
simply were not prepared for higher interest rates for a sustained
period of time, having loaded up on cheap debt during the boom years,
Palmer said.
Sadly, the debt storm has now broken and this mornings data from the
Insolvency Service highlights how this macro-economic environment is
wreaking havoc on small and medium businesses across the country.
She added that the latest figures would discourage business owners who
had hoped interest rates might come down soon.
Daniel Staunton, a senior associate in the restructuring & insolvency
team at Kingsley Napley, warned that the facts dont lie.
Staunton said: When you speak to other professionals operating in the
restructuring and insolvency field they all report being busier which is >>> reflected in the increased numbers.
We can likely expect March 2024 stats to show another incremental
increase.
READ MORE
Pound Sterling makes strong start to 2024 as UK recovery from recession
to continue
He predicted that while new records continue to be broken he feared it >>> would be an ongoing trend and whilst we wont see tsunami levels, the
total number of insolvencies this year will ebb and flow like the tide. >>>
Nicky Fisher, president at R3 warned that businesses are still
suffering the after-effects of last years economic turbulence.
Rising fuel, energy and funding costs and cautious consumer spending
are continuing to take their toll on bottom lines and make it harder for >>> businesses to break even, Fisher added.
After the pandemic era lockdowns; Brexit; staff shortages and rising
wage costs; spiralling fuel costs; high interest rates and inflation
eroding consumers spending power and confidence; and the contraction in
income implied by falling GDP , it is sad but unsurprising that company
insolvencies have increased.
Jeremy Whiteson,
While there is still some optimism among firms about what the next year >>> has in store, the economic conditions remain a key area of concern for
many and unless things improve, we could see more and more firms turning >>> to an insolvency process to help resolve their financial issues.
Meanwhile, Jeremy Whiteson, restructuring and insolvency partner at city >>> law firm, Fladgate warned that company failures can provoke wider
economic problems if that causes unemployment or lost production.
Whiteson said: Against this background, the increased figures are
worrying. There has been something of a death by a thousand cuts for
many businesses, citing the impact of the war in Ukraine, the aftermath >>> of Covid, Brexit changes and inflation.
In the interim, we are 100% prepared/protected in the "full armor of
GOD" (Ephesians 6:11) which we put on as soon as we use Apostle Paul's
secret (Philippians 4:12). Though masking is less protective, it helps
us avoid the appearance of doing the evil of spreading airborne
pathogens while there are people getting sick because of not being
100% protected. It is written that we're to "abstain from **all**
appearance of doing evil" (1 Thessalonians 5:22 w/**emphasis**).
Meanwhile, the only *perfect* (Matt 5:47-8 ) way to eradicate the
COVID-19 virus, thereby saving lives, in the UK & elsewhere is by
rapidly (i.e. use the "Rapid COVID-19 Test" ) finding out at any given
moment, including even while on-line, who among us are unwittingly
contagious (i.e pre-symptomatic or asymptomatic) in order to
"convince it forward" (John 15:12) for them to call their doctor and
self-quarantine per their doctor in hopes of stopping this pandemic.
Thus, we're hoping for the best while preparing for the worse-case
scenario of the Alpha lineage mutations and others like the Omicron,
Gamma, Beta, Epsilon, Iota, Lambda, Mu & Delta lineage mutations
combining via slip-RNA-replication to form hybrids like "Deltamicron"
that may render current COVID vaccines/monoclonals/medicines/pills no
longer effective.
Indeed, I am wonderfully hungry (
https://groups.google.com/g/sci.med.cardiology/c/6ZoE95d-VKc/m/14vVZoyOBgAJ >> ) and hope you, Michael, also have a healthy appetite too.
So how are you ?
I am wonderfully hungry!
On Mon, 18 Mar 2024 11:02:26 -0700, NOT Michael EjercitoMangina, try being wonderfully hungry.
<b'rissed>
Post by Michael Ejercito
Post by HeartDoc AndrewNo SHIT, gook!
Indeed, I am wonderfully hungry (I am wonderfully hungry!
https://groups.google.com/g/sci.med.cardiology/c/6ZoE95d-VKc/m/14vVZoyOBgAJ >>> ) and hope you, Michael, also have a healthy appetite too.
So how are you ?
LOL
An eternally (Mark 3:29) fake-KK(QQ)-nymshifter wrote:
WASHINGTON (Reuters) -The U.N. children's agency said on Sunday over
13,000 children have been killed in Gaza in Israel's offensive, adding
many kids were suffering from severe malnutrition and did not "even
have the energy to cry."
Because absolutely ZERO children in Germany and Japan were killed
between 1940 and 1945.../sarc
On Tue, 19 Mar 2024 09:57:44 -0700, NOT Michael EjercitoNithing, you are so obsessed with diarrhoea!
Mangina, try being wonderfully hungry.Gook, try giving up the freshly squeezed jew diarrhoea.
ICE has no reason to rapture me, for I am an American citizen!Then you can be rapture ready!You ARE ready for rapture....by the ICE Five-0.
May it be SOON, insh'Allah!
Michael Ejercito wrote:Very great point!
An eternally (Mark 3:29) fake-KK(QQ)-nymshifter wrote:
WASHINGTON (Reuters) -The U.N. children's agency said on Sunday over
13,000 children have been killed in Gaza in Israel's offensive, adding
many kids were suffering from severe malnutrition and did not "even
have the energy to cry."
This should remind folks that despite the deceased 16yo Markea's small stature and matching weight of 40 lbs, she did not suffer from severe malnutrition as evident by her having the energy to run away multiple
times as reported by both DFACS and Police **and** the energy to
confess in her diary that she got sick from eating food she found at
the bottom of a Walmart dumpster.
A firing squad is fine for me.Because absolutely ZERO children in Germany and Japan were killed
between 1940 and 1945.../sarc
The only godly way to stop the terrible misbehavior of terrorists, who
are always and invariably hangry (2 Kings 6:29), is to "convince it
forward" (John 15:12) for them to be wonderfully hungry (Philippians
4:12) instead. If they refuse, then it would be right to imprison them
for their own safety as well as the safety of others. If they can't
because they're eternally (Mark 3:29) condemned as in the example of LoosePeeledQuackIdiot fake-KK(QQ)-nymshifter et al in this thread, we
pray (2 Chronicles 7:14) that GOD continues to curse (Jeremiah 17:5)
them so that they whither away harmlessly as all are witnessing to
their wonder and amazement here on USENET.
HeartDoc Andrew, in the Holy Spirit, boldly wrote:
Michael Ejercito wrote:
An eternally (Mark 3:29) fake-KK(QQ)-nymshifter wrote:
WASHINGTON (Reuters) -The U.N. children's agency said on Sunday over
13,000 children have been killed in Gaza in Israel's offensive, adding >>>> many kids were suffering from severe malnutrition and did not "even
have the energy to cry."
This should remind folks that despite the deceased 16yo Markea's small
stature and matching weight of 40 lbs, she did not suffer from severe
malnutrition as evident by her having the energy to run away multiple
times as reported by both DFACS and Police **and** the energy to
confess in her diary that she got sick from eating food she found at
the bottom of a Walmart dumpster.
Very great point!
.Because absolutely ZERO children in Germany and Japan were killed
between 1940 and 1945.../sarc
The only godly way to stop the terrible misbehavior of terrorists, who
are always and invariably hangry (2 Kings 6:29), is to "convince it
forward" (John 15:12) for them to be wonderfully hungry (Philippians
4:12) instead. If they refuse, then it would be right to imprison them
for their own safety as well as the safety of others. If they can't
because they're eternally (Mark 3:29) condemned as in the example of
LoosePeeledQuackIdiot fake-KK(QQ)-nymshifter et al in this thread, we
pray (2 Chronicles 7:14) that GOD continues to curse (Jeremiah 17:5)
them so that they whither away harmlessly as all are witnessing to
their wonder and amazement here on USENET
A firing squad is fine for me.
Of course, the Romans had crucifixion.
On Tue, 19 Mar 2024 19:06:20 -0700, NOT Michael EjercitoRope was very useful in dealing with Nazi nithings.
Of course, the Romans had crucifixion.Of course, the Germans had Zyklon-B. That seems to have voiked!
HeartDoc Andrew, in the Holy Spirit, boldly wrote:
Michael Ejercito wrote:
An eternally (Mark 3:29) fake-KK(QQ)-nymshifter wrote:
WASHINGTON (Reuters) -The U.N. children's agency said on Sunday over
13,000 children have been killed in Gaza in Israel's offensive, adding >>>> many kids were suffering from severe malnutrition and did not "even
have the energy to cry."
This should remind folks that despite the deceased 16yo Markea's small
stature and matching weight of 40 lbs, she did not suffer from severe
malnutrition as evident by her having the energy to run away multiple
times as reported by both DFACS and Police **and** the energy to
confess in her diary that she got sick from eating food she found at
the bottom of a Walmart dumpster.
Very great point!
.Because absolutely ZERO children in Germany and Japan were killed
between 1940 and 1945.../sarc
The only godly way to stop the terrible misbehavior of terrorists, who
are always and invariably hangry (2 Kings 6:29), is to "convince it
forward" (John 15:12) for them to be wonderfully hungry (Philippians
4:12) instead. If they refuse, then it would be right to imprison them
for their own safety as well as the safety of others. If they can't
because they're eternally (Mark 3:29) condemned as in the example of
LoosePeeledQuackIdiot fake-KK(QQ)-nymshifter et al in this thread, we
pray (2 Chronicles 7:14) that GOD continues to curse (Jeremiah 17:5)
them so that they whither away harmlessly as all are witnessing to
their wonder and amazement here on USENET
A firing squad is fine for me.
Of course, the Romans had crucifixion.
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