
Rising energy and fuel bills are driving growing numbers of UK companies into insolvency but what is the DRIVER?
firms struggle to cope with higher costs, supply, and staff shortages.
Corporate insolvencies in England and Wales jumped by more than 80% in the past quarter from a year earlier, while the number of firms opting to be liquidated hit the highest level in at least six decades. They accounted for almost nine in 10 of the total.
Insolvency experts warned of a tough autumn when even more firms could go out of business, including larger companies, as a result of falling consumer confidence and demand… driven by a broken business model.. A model we have enjoyed for over 40 years…
There were 5,629 company insolvencies between April and June, up 13% on the previous quarter, and 81% more than in the same period last year, according to figures from the government’s insolvency service…
This includes 4,908 creditors’ voluntary liquidations (CVLs), where a company that cannot pay its debts decides to fold. It was the highest quarterly figure since the start of the data series in 1960.
The number of compulsory liquidations also increased to 368, but remained lower than levels seen before Brexit transition period ended… This is because when there was hope! businesses held out to the end until there was no chance of revival but now since post brexit that hope is lost… The reality is all too clear… Voluntary liquidation is a way out of the inevitable…
severe cashflow pressures that many businesses are facing, which are exacerbated by soaring energy and fuel costs. Inflation is testing the viability of businesses across industry sectors and with interest rates are expected to rise again this week increasing the cost of borrowing.
“At the same time as facing significant cost increases, many businesses are being hampered by supply and staff shortages, which are limiting revenues at a critical time, just as demand levels are recovering or back to pre-pandemic levels we just don’t have the people to do the work…
#brexit #brexitisnotworking #brexitreality #brexitnews #brexitchaos
“The impact from the slowdown in consumer spending is likely to be even more intense in the autumn, just as many retail and hospitality businesses gear up for the all-important ‘golden quarter’….Christmas… These businesses, which are highly sensitive to fluctuations in consumer demand, will be most vulnerable.”
“Sadly Many directors are opting to close their businesses as they lack confidence in their trading prospects in the current climate.” A Climate that is made worse by the ongoing madness of Brexit , But don’t worry the Arkham asylum has a majority of 52%
52% of Nigel Farage Fetishising Crazies
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Never stop showing the chaos and stupidity of brexit, it can not nor should it ever be accepted.
Brexiteers: it was worth it getting our sovereignty back and control of our borders. (Sarc mode off)
I'm sure that's my mates son sticking his fingers up. Small world.
Brexit would have been a great success if it had not been for covid, the world downturn, inflation and the economy tanking. Lets not forget the traitorous remainers that delayed brexit and now the traitors British civil service undermining everything the government wanted to do. Not forgetting we took back control of our borders and those six French immigration police thwarted our glorious plans by either not turning up and others wanting to stamp our blue passports….. Then there's those Traitors in the North of Ireland holding the rest of us to ransom….
Conditions have changed, things are not how they used to be, there is Brexit, there are borders, there is no free trade, no free movement, no easy hire some Europeans to fill in positions in factories and other businesses, faming, restauration, tourism etc. No more no taxes to ship goods and parts to the EU or to supply yourself with goods or materials in the EU, ANYWHERE, in the EU. From the first day brexit was decided, all these businesses should have immediately began their process of restructuration of business models or simply closing shop and moving to the EU. I cannot believe people and businesses were so dumb in trusting the words of people that preached the exact opposite of what they WANTED to have, my only explanation? Greed. They believed, like I know some did because people heard them in pubs and "get tog ethers" and other social venues, that they would be able to work without those annoying EU regulations that, after all, were there to protect them also, hire and rehire whoever and whenever they wanted, treating their staff like slaves, changing arbitrary the value of salaries, insurances, some even believing they would use whatever they wanted in things like food and guarantees of goods etc, pumping beef with hormones for example, and those "Europeans" (what the heck are they then?) would take it because "they need us more than we need them"…
Well, how is that going then?
Quoting a famous quote by a smiling cop, paraphrased by Marcus here, "Welcome to Brexit Sir", at which I will add my "The gift that keeps on taking".
It's sad isn't it
Never mind the hairs on bezos head are numbered which is zilch like his hope through man's use of technology to live forever zilch and he can't take his money with him as the scriptures says all is vanity we brought nothing into the world and we can carry nothing out ?
UKIP have eaten up the Tory party from the inside. It is now a UKIP parasite living in a zombie Tory host.
we be able to end this mess quicker if we help out ukraine and send soldiers and more weopans to help out this war end faster
we be bailing out the banks again then later the big sharks will beecome bankrupt i bet we be bailing them out even if were poor
they got thickos running the cuntry the goverment are not educated were in knee deep in barry white
Apprentices here in Germany accept lower wages during their time of training because they are pretty sure that the companies they are learning in will offer them a much better paid job, once the training is ended.
If not, their chances to get a good job with a successful apprenticeship is much better. In most of the world, a German workman who has completed an apprenticeship knows more about his trade than a local engineer…
The CBI Coerced the British parliament to override the Suggestion from the EU not to employ the new Entrants into the EU such as Poland Romania Slovakia Bulgaria Czech Republic.
We are Sovereign and we make our Own Law and Regulations.
And all to the Detriment of the Youth of Britain. It Didn't happen in Any other EU Country.
🇮🇪🇪🇺
hay guys i don't want you to worry ,the powerful rich people who pushed for us to leave are way beyond being hurt by what they advocated for .and I'm sure if things get bad enough they shall go and live in France or Spain etc .
Says a lot for the tories being the party of business more like filling their own boots going down the pan because of brexshit.
Brexit changed the entire landscape of how the UK is able to trade with the EU. Therefore UK businesses cannot survive doing it the "old way". Either they find a solution they can work with or (1) they shrink or (2) they close down. Not complicated. Struggle to survive or die. Your best days are in the past and the worse ones might be in the future if you cannot be creative enough to change what you are doing at present.
Seems the project fear fruit tree is full of rotten fruit with no one to pick it !
Seems the project fear fruit tree is full of rotten fruit with no one to pick it !
Plague island the kingdom of soon to be slaves
I've noticed that a lot of smaller sellers on eBay or similar sites simply will not ship items to the north of Ireland. Last spring, I had to go through three places to get a budget 4×3 metre poly tunnel sent here. I reasoned that some steel tubes and a cover couldn't possibly be that difficult.
My seed potatoes for 2021 turned up in December 2020 because they wouldn't be able to send them from Scotland come the New Year. We usually get them in mid-late February. None of the old lads got their seed catalogues from companies they had been buying from for decades.
I couldn't get any from another good company that passes on the savings of ultra basic packaging to you, the buyer. They are literally a foil pack with the name, dates of packing and use by. No fancy full-colour packaging telling you what you should already know. I also got a very low failure rate with any seed I got from them. I paid £2.50 for 75 pumpkin seeds, all of which produced a plant for a community thing I was doing.
Now I get everything here or from the Republic of Ireland or the EU…
A lot of smaller places in the UK I dealt with for years have had to be replaced.
England the big gun leader of the so called UK, thanks a lot for screwing up the economy!
One good thing with all those firms shutting down, there‘ll be more slave workers for the farmers🤣🤣🤣🤣 another Brexit bonus
Marcus, Brexit is not a disaster. EU is making a profit out of it.
Hi I just love how our government gave all these companies LOANS to help them through covid (new cars holidays ) without seeing if the business was viable or not ?
Here are all the policies of Truss to solve everything:
Ah the Ferangi is back "he's huuuuuman"
As BoJo once said "F*ck business". So he has delivered in his pledge.