More than 20 primary schools who reported to be in financial difficulty sought emergency funding from the Department of Education last year in the face of rising costs. However, latest records indicate that just one school was successful in securing additional funding, the Irish Times reported. Minister for Education Norma Foley has told schools which are experiencing funding difficulties to engage with the financial support services unit in the department.
Read more
Resources Per Country
- Albania
- Austria
- Belarus
- Belgium
- Bosnia and Herzegovina
- Bulgaria
- Croatia
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Gibraltar
- Greece
- Guernsey
- Hungary
- Iceland
- Ireland
- Isle of Man
- Italy
- Jersey
- Kosovo
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Macedonia
- Malta
- Moldova
- Monaco
- Montenegro
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Russia
- San Marino
- Serbia
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- Ukraine
- United Kingdom
- Vatican City
The power grid in the United Kingdom can’t keep up with demand for connections, and local planning authorities can block new construction for years. Overcoming these roadblocks, however, has gained essential support. In the countryside of Cambridgeshire, a British semiconductor start-up was ready to expand beyond its lab and open a manufacturing base. But the company’s ambitions came with unexpected costs to bring enough electricity to the new site. The potential bill? One million pounds, the New York Times reported.
Read more
In the intricate web of multinational ownership, the renowned retail giant Selfridges lands in a precarious situation. This iconic department store, situated on London’s bustling Oxford Street, is now seeking additional financial support from its parent company, Central Group, BNNBreaking.com reported. This pressing need emerges as one of its major stakeholders, Signa, flounders in the murky waters of insolvency. The owner of Selfridges, Cambridge Properties Holding Limited, is currently in active discussions with the Thai-based Central Group.
Read more
The new findings warn that almost 30,000 businesses will go bankrupt in 2024, with the vast majority being small companies, BusinessNews.com reported. PwC experts claim there will be a 'significant' increase in businesses collapsing, with companies in the hotels and catering, manufacturing, and transport and storage sectors likely to suffer the most. The findings said that the impact of high energy prices, sluggish economic growth and high interest rates is likely to hit again this year.
Read more
Oxurion NV, a biopharmaceutical company headquartered in Leuven, announced on Dec. 28 that it has avoided bankruptcy by entering into a binding letter of intent (LOI) with Atlas Special Opportunities LLC (Atlas) and an addendum to the existing subscription agreement for convertible bonds with Atlas, AfternoonHeadlines.com reported.
Read more
Another real estate company belonging to Austrian investor René Benko's ailing Signa Group has filed for insolvency. According to the Vienna Commercial Court, a corresponding application was submitted today by Signa Development Selection AG, IndoNewYork.com reported. The company, which specializes in project developments, is therefore aiming for self-administration restructuring proceedings, as announced by Signa on Thursday. The company should be continued and creditors should be offered a quota of 30 percent payable within two years, it said.
Read more
Nottingham Council has been slapped down by the head of a new local government watchdog, which said that councils are going bankrupt because of poor financial management, not a lack of money, GB News reported. Nottingham Council, which declared effective bankruptcy earlier this year, cited the impact of inflation as a cause. It also blamed increased demand for children's and adults' social care and rising homelessness.
In an alarming development, German hospitals are grappling with an unprecedented wave of insolvencies, threatening the stability and efficacy of the nation’s health care system, BNN reported. According to recent reports from the German Hospital Association, there has been a significant uptick in bankruptcies, with almost 40 hospitals going insolvent in 2023 alone. If projections hold, this figure could see a two-fold increase in 2024, heralding a potential health care crisis. Surveys paint a somber picture for the future of Germany’s health care system.
Thousands of items from Habitat France worth an estimated €8m - €9m have not been delivered to customers as the company continues to experience severe financial difficulties, The Connexion reported. The company, which has been independent of the original U.K. Habitat store since 2011, is in judicial administration, and as of Dec. 18, administrators have called for the liquidation of the company due to bankruptcy at the Bobigny Commercial Court. The company has been struggling to pay its suppliers, or fulfill existing orders for months.
Italy's government will agree on a limited extension of costly "superbonus" subsidies for home improvements which Prime Minister Giorgia Meloni had previously blamed for wrecking public finances, a coalition party said on Thursday, Reuters reported. The Forza Italia party, which pushed hard for the concession, said 110% tax credits would remain in place for low-income households who have not completed home renovations this year. They otherwise faced having to draw on less generous 70% tax credits, kicking in next year.