Bankruptcy

UKHospitality: ‘Interest rate rise only exacerbates financial challenges many are grappling with’

03-Aug-2023 By James McAllister

UKHospitality has warned that the latest interest rates rise will further exacerbate the sector’s financial challenges after the cost of borrowing rose to its highest level in 15 years.

Six restaurants ‘declared insolvent every day between January and March’

13-Jul-2023 By Restaurant

Restaurants and cafés across the UK are going insolvent at a pace not seen for more than a decade, new research shows.

Hospitality faces ‘record insolvencies’ as businesses continue to suffer economic pain

12-May-2023 By James McAllister

Company insolvencies in hospitality could hit record highs this year, a legal expert has warned, as business continue to be battered by a ‘perfect storm’ of cost pressures.

188 restaurant companies became insolvent in December 2022

15-Feb-2023 By Restaurant

Restaurant company insolvencies in December 2022 were at the highest number than the past four years, new data has shown.

Pub and bar insolvencies jump by 83% in past year

13-Feb-2023 By James McAllister

Pub and bar company insolvencies have increased by 83% in the past year, according to new data from UHY Hacker Young.

Restaurant insolvencies hit highest level in a decade

31-Jan-2023 By Restaurant

The number of restaurant businesses going bust jumped by 65% in the past 12 months to the highest level in more than a decade, new data has shown.

Meatcure burger group goes into liquidation

18-Dec-2017 By Georgi Gyton

Midlands-based burger group Meatcure has gone into voluntary liquidation, following the closure of four of its five sites earlier this year.

A fifth of UK restaurants at risk of going under

30-Oct-2017 By Stefan Chomka

Up to a fifth of UK restaurants are at risk of going bust due to Brexit, according to new research by accountancy firm Moore Stephens.

The Scotsman Hotel “continuing to trade” despite HMRC liquidation

07-Jul-2016 By Hannah Thompson

The Scotsman Hotel will continue to trade throughout its liquidation process and is seeking a long-term solution to its administration, its liquidator has said.

Hospitality insolvencies continue to rise

09-Oct-2012 By Luke Nicholls

Hospitality and leisure (H&L) was one of the worst-hit sectors in the UK in terms of insolvencies over the past year, a new report has found.

Unexpected drop in hospitality administrations

04-May-2012 By Peter Ruddick

Accountancy firm Baker Tilly has analysed the latest figures from insolvency regulators The Insolvency Service and revealed the number of hotel and licensed businesses appointing administrators dropped unexpectedly in the first quarter of the year.

Pub insolvencies still at recession levels

10-Aug-2010 By Martyn Leek

The number of insolvencies in the pub industry has dipped — but they are still at recessionary levels, according to Baker Tilly

Gordon Ramsay in court over unpaid tax debts

26-Nov-2009 By Becky Paskin

Gordon Ramsay Holdings has been given just weeks to settle outstanding tax debts on two of its businesses, after being taken to court by HM Revenue and Customs

Phoenix-style hotel operators disbanded after owing creditors £140k

24-Sep-2009 By Becky Paskin

Two of a group of phoenix companies used to operate The Huddersfield Hotel in Yorkshire have been disbanded ‘in the public interest’ after leaving creditors facing unpaid debts of more than £140k