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Restructuring & Insolvency

crisis in local government funding

The crisis in local government funding and the ripple effect on charities and businesses

Current financial pressures In a letter to Chancellor Jeremy Hunt ahead of the March 2024 budget, the Local Government Association (LGA) said that councils were facing significant shortfalls because of cost and demand pressures: “Our analysis shows that by 2024/25 cost and demand pressures will have added £15bn (28.6%) to the cost of delivering council services since 2021/22. Despite increased

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April 29, 2024
rising business costs

Rising business costs in the new fiscal year

The signs are that the worst of the cost of living crisis may be over for consumers, with CPI inflation at 3.4% in February now well below the rise in average pay of 6.1% for those in work. Pensioners have seen a huge hike of 8.5% and most benefits have been uprated by 6.7%. If only the situation facing businesses

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April 22, 2024
monthly overview

April 2024 economic and business overview

Green shoots of recovery or another false dawn? The chart of the UK’s monthly GDP movement over the past thirteen months, published in mid-March by the Office for National Statistics, confirms just how erratic and weak our growth performance was in 2023. There were six monthly rises and six monthly falls, all of less than 0.75% and most far smaller

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April 2, 2024
Opus Manchester office

Opus opens new Manchester office with local Partner

Opus Business Advisory Group continues to support the thriving North West business community by opening a new office in central Manchester. Frank Ofonagoro joins Opus to lead a dedicated team committed to business support, restructuring and insolvency advice. Frank brings over 20 years of experience delivering projects in restructuring, transaction services and corporate advisory. He is a current board member

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March 22, 2024

March 2024 economic and business overview

What next for the UK economy now we’re in a recession? Economists need ponder no longer, the Office for National Statistics (ONS) finally confirmed that Q4 2023 saw a fall in GDP adding to the negative outturn for Q3, thereby creating a recession which government sources dismiss as no more than ‘technical’. What it certainly counts as is ‘shallow’ by

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March 4, 2024

Scottish insolvency stats – There may be trouble ahead

The Insolvency Service reported recently that 88 company insolvencies were recorded in Scotland in January 2024, which is 19% lower than the number in the previous January. This amounted to 34 compulsory liquidations, 46 creditor voluntary liquidations (CVLs), 7 administrations and one CVA. January statistics on their own should not be regarded as a typical bellwether when trying to understand

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February 27, 2024
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