Recent growth figures suggest an interest rate cut next month is inevitable. A knee jerk cut to interest rates in response to these figures could go against the gradual and careful approach to further withdrawal of monetary policy restraint.

Claire’s Accessories draft in Interpath as the latest in a set of advisers searching for an investor for all or part of its operations. Claire’s operate in 300 stores in the UK, employing around 1,600 people. A new investor could be a precursor to wider restructuring.

Twenty month suspended prison sentence for fitness company director for fraudulently claiming three Bounce Back Loans totalling £45k and using some of the funds on personal shopping, restaurants and even trips to the safari. #insolvency

WINDING UP PETITION WATCH 172 winding up petition hearings in the High Court today. There continues to be a c.6 week period between petition date and hearing date. #insolvency

Insolvency Service announces ambitious plan to see them become UK’s leading authority in enforcing corporate and insolvency standards and play a more prominent role in tackling economic crime. Execution is key, will more resource be made available or existing ones redeployed?

SCOTT’S CHART OF THE WEEK Corporate insolvencies by sector in May 2025 and for the full year to date. Construction remains top of the chart with the most corporate insolvencies. #insolvency

Draft proposals could see Buy Now Pay Later users offered the same protection as other forms of lending from July 2026. This would include affordability checks, support for those in financial difficulty and the ability to complain to the Financial Ombudsman Service.

Could a Plan Benefits Report become a mainstay in future Restructuring Plans, addressing concerns raised from the decision to over turn the Petrofac RP? If yes, it could make the desire to make RPs more accessible to the mid market more challenging. linkedin.com/posts/scott-be…

The Insolvency Service target that 63% of annual director disqualifications relate to abuse of pandemic related support and fraud related outcomes. The year to 31 March 2025 was the first year it reached this target. Does the target risk seeing other offences go unpunished?

WINDING UP PETITION WATCH 132 winding up petition hearings in the High Court today. Weekly hearings drop to their lowest since March this year. This is despite an upward trend in compulsory liquidations. #insolvency

British Masters athlete Rick Beardsell receives eighteen month suspended prison sentence for fraudulently claiming two Bounce Back Loans totalling £100,000 and using the funds for personal use. He has since repaid the loans in full plus costs. #insolvency

SCOTT’S CHART OF THE WEEK From the annual accounts of the Insolvency Service, the growing trend towards disqualifications featuring allegations of COVID-19 financial support scheme misconduct and fraud related outcomes towards the internal target of 63%. #insolvency

Supreme Court ruling on motor finance commission misselling claims due on Friday. There remains a balance between what is fair for consumers and what could undermine future financial viability of motor finance which is likely to play important role in future vehicle purchases.

Total debt owed to HM Revenue and Customs fell to £44.0 billion as at 31 March 2025. The second consecutive quarter that overall tax debt has fallen. It’s a fall in tax debt of £0.6 billion compared to twelve months ago. Tax debt remains elevated.

15,943 claims from employees received by the Insolvency Service in quarter ended 30 June 2025. C.2.5% increase compared to quarter to 30 June 2024 despite decline in insolvencies. C.14.5% decrease in claims compared to the previous quarter prior despite increasing insolvencies.

Five companies shut down by Insolvency Service and Companies House after filing false accounts overstating turnover and showing a combined assets of over £1.3 billion. The ease with which falsified accounts can be filed and the potential for subsequent fraud should be a concern.

Net borrowing of consumer credit rose to £1.4 billion from £0.9 billion in June 2025. As always with growing consumer debt the figure is a combination of increased consumer confidence and the ability to repay debts in future and unsustainable debt.

WINDING UP PETITION WATCH One hundred and seventy five winding up petition hearings in the High Court today. Despite reports of a summer backlog in the High Court affecting other matters petition hearings seem to be continuing. #insolvency