A wide-ranging article this week in the Financial Times highlighted the plight of care home finances as operators struggle with surging interest rates. The article quotes a number of sector experts warning that care home closures will inevitably rise, putting further pressure on the sector’s capacity just as demand is rising from an ageing population. Variable rate finance The article
The corporate insolvency statistics for June 2023 published today show an ongoing and worrying trend for UK businesses. A perfect storm of interest rate rises, savage input costs and labour force pressures, coming so soon after the pandemic, have led to business insolvencies soaring to 60% in June. Here is the breakdown of the last six months. June 2023 2,290
The appointment of Opus Restructuring & Insolvency as provisional liquidators to supervise the continuing trading and eventual winding down / closure of Hogganfield care home in Glasgow and Skye View in Airdrie in early June is just the latest bad news for the Scottish residential care sector, which had already been experiencing the largest number of closures for many years
Those outside the lending and insolvency communities could be forgiven for struggling to understand the difference between Fixed and Floating Charges over business assets and why it can matter so much. Now there is a High Court ruling in the case of Avanti Communications, which simultaneously introduces both more flexibility and more uncertainty about the key characteristics of a Fixed
The latest figures from UK Finance on business finance and from the Institute for Public Policy Research (IPPR) on investment have left pundits wondering where the UK economy is headed. Positive as some aspects of the UK Finance statistics may be, they still give some cause for concern. By contrast the IPPR numbers are unambiguously poor. Appetite for funding UK
All businesses go through phases and cycles: from formation to growth to plateauing and, in some cases, on into decline and beyond. Good management sees the red flags early and takes corrective action before the downturn sets in and becomes irreversible. Here, we outline the critical warning signs and the process of recovery, which is outlined in this diagram. Budget
