Football club FC Barcelona Barça is on the verge of bankruptcy its total debt right now stands at 1,173 million euros, of which 730 are short-term, El Mundo reported. Nearly 266 million euros owed to banks comes due for the club before June 30 with 90 million of that figured owed to Goldman Sachs. The total wage bill for professional athletes currently stands at 74% of income . It should be remembered that the League regulations significantly penalize the fact of exceeding the 70% limit in the case of footballers.

The world economy is gearing up for a strong recovery from the pandemic in 2021 after shrinking considerably less than initially feared last year, the International Monetary Fund said on Tuesday, though it warned that the outlook is subject to exceptional uncertainty, the Wall Street Journal reported. Global output is projected to grow 5.5% this year, up from the IMF’s October forecast of a 5.2% increase. Last year’s estimated contraction of 3.5% was smaller than October’s forecast for a 4.4% contraction.

One in five German companies is facing a liquidity squeeze amid a second lockdown that has seen most stores and schools shuttered since mid-December, a survey of 18,000 businesses by the DIHK chambers of commerce showed, Reuters reported. That figure is down from 27% in November but shows that government aid is proving insufficient to fully compensate for lost revenues. Some 5% of companies that participated in the DIHK study said they faced the threat of insolvency, down from around 9% in November, according to a summary of the survey published Tuesday.

Serbian Prime Minister Ana Brnabic said that the government is in talks with potential investors for the sale of insolvent glassmaker Srpska Fabrika Stakla (SFS), SeeNews.com reported. "We are in talks with potential investors, they are conducting a due diligence, an analysis of the financial situation and the potential of the factory," Brnabic said as seen in a video file posted on the website of Tanjug news agency on Saturday.

A trio of U.K. companies which misled clients to raise millions of pounds in funds under the guise of property investments have been wound up by the courts, the Financial Times reported. An investigation by the Insolvency Service found London-based property investment firms Rationale Asset Management and Value Asset Management had "entirely misled" investors and millions of pounds without making any "genuine" investments.

Debenhams has been wound up by a judge in a specialist court. Judge Daniel Schaffer made a winding-up order at an online hearing in the Insolvency and Companies Court on Monday, the Mirror reported. He described the retailer as a "rudderless ship" drifting in an "ocean of insolvency" which needs to be brought into port. The judge said the Official Receiver now should assess the position. He had been asked to consider Debenhams' position by lawyers representing a shareholder and debtors. The judge said he was making a winding-up order of his own motion.

Now that Britain is firmly outside the European Union, Britain's auto industry could be on the verge of dwindling even more, the New York Times reported. The Brexit deal worked out with the European Union last month avoided cross-channel tariffs that would have been disastrous for auto manufacturing in Britain. But the pact will create more customs paperwork and slow down supply chains, while creating disincentives for global carmakers to continue investing in British factories as they begin retooling for electric vehicles.

Amigo said it would be insolvent if a proposed cap on customer payouts fails as the subprime lender published details of its plan, Sharecast.com reported. The company has written to customers and the financial ombudsman with details of a scheme of arrangement that would limit payments to customers and the ombudsman. Creditors will be asked to vote for the plan at a meeting on 30 March. If the scheme fails there will be no money for creditors whereas under the plan creditors will get a share of £15-£35m plus a share of Amigo's profit over the next four years, it said.