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The number of U.K. firms forced to liquidate rose to the highest level in more than a decade last year, as higher taxes and a challenging economic outlook weighed on businesses, Bloomberg News reported. Compulsory liquidations, where creditors petition the courts to shut down a business that can’t pay its debt, climbed to 3,730, the most since 2012, according to the latest official data released earlier on Tuesday.
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The number of people becoming financially insolvent across England and Wales jumped to a 15-year high last year, according to Insolvency Service figures, PAMedia.com reported. The number taking out debt relief orders (DROs) was at its highest since the introduction of this type of insolvency in 2009, with 46,939 recorded in 2025, PAMedia.com reported. The Insolvency Service said that a total of 126,240 personal insolvencies were recorded last year.
Norwegian hydrogen refueling station operator Hynion has announced its decision to file for bankruptcy after failing to reach a conclusive restructuring agreement with Bizcap AB and investor Gerhard Dahl, FuelCellWorks.com reported. The company, which had been battling a “critical financial situation,” said the deadline set by its board expired without resolution. Trading on the Oslo Børs will also be suspended as part of the process.
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White label hotel management company Revo Hospitality, formerly known as HR Group, has filed for insolvency and is to be restructured under its own management by the summer, BoutiqueHotelNews.com reported. The company cited “increased wage costs and the sharp rise in minimum wages, but also higher costs for rent, energy and food” as contributing factors to the insolvency. “Above all, the strong expansion of the Revo Hospitality Group in recent years led to duplicate structures and integration problems,” it said. In 2008, Revo (then known as HR Group) took over its first hotel in Leipzig.
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According to data from the insolvency department, Selangor has the highest incidence of bankruptcy in the country, with a significant proportion of cases involving civil servants, particularly teachers, Free Malaysia Today reported. Insolvency department director-general Ishak Bakri said the majority of bankruptcies stemmed from substantial personal loan liabilities, reflecting that salaried employees are disproportionately vulnerable to insolvency.
Brazil's Supreme Court Justice Dias Toffoli has allowed a prosecutor's request for banks to freeze assets belonging to Brazilian entrepreneur Nelson Tanure due to an investigation into lender Banco Master, according to a document made public last Friday, Reuters reported. The request was made by the country's Prosecutor General's Office. The mid-sized bank was liquidated by the central bank last November.
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As fallout from the Greg Martel Ponzi scheme continues to inflict hardship for over 1,700 people who invested with the Victoria, B.C., fraudster, newly released documents show that the company appointed to manage Martel’s bankruptcy stands to bill over $12 million for untangling his web of deceit, CBC.ca reported. The estimate is contained in minutes of a meeting posted online by PricewaterhouseCoopers (PwC), the accounting firm appointed receiver and bankruptcy trustee of Martel and his Ponzi-vehicle My Mortgage Auction Corp. (MMAC).
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A Calgary-based private equity manager has filed a court application to push the numbered company behind the Stephenville airport into receivership, CBC.ca reported. “An interim receiver is required immediately because the respondent’s chronic lack of capital and ongoing mismanagement threatens the ongoing protection and preservation of the airport assets,” lawyers from BTG Capital Inc. wrote. Late last year, BTG Capital acquired the rights to collect a court judgment against Carl Dymond — the sole director of airport owner 15132738 Canada Inc.
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U.K. unemployment was unchanged in the three months through November, remaining close to pandemic-era highs and adding to concerns about the economy’s health, the Wall Street Journal reported. The headline rate of unemployment was 5.1% in September through November, unchanged compared with the three months through October, the U.K.’s Office for National Statistics said Tuesday. Annual wage growth, stripping out bonuses, was 4.5% on year, slowing after a rise of 4.6% in the three months through October.
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President Donald Trump on Saturday vowed to implement a wave of increasing tariffs on European allies until the United States is allowed to buy Greenland, escalating a row over the future of Denmark's vast Arctic island, Reuters reported. In a post on Truth Social, Trump said additional 10% import tariffs would take effect on February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Great Britain — all already subject to tariffs imposed by Trump. Those tariffs would increase to 25% on June 1 and would continue until a deal was reached for the U.S.
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