Minor textual changes, adding reference to experimental enforcement statistics. closed. Insolvency Service Enforcement Outcomes (Experimental Statistics): July to September 2015, were added. It is reportedly seeking to close 100 of its 318 stores in the UK as it continues to explore all options for the future. A massive number of consumers filed Chapter 7 bankruptcy in 2005 to get it done while the laws were more lenient. We use cookies to collect information about how you use GOV.UK. It doesn’t make for happy reading. The co-founder of Simba Sleep, James Cox, quicklystepped in to buy Mahabis out of administration. Companies House produces quarterly statistics on corporate insolvencies and dissolutions. The following post will continue to be updated to reflect the current major retailers that have filed for Chapter 11 bankruptcy protection in 2019. It also produces annual statistics on the number of directors disqualified. Gift cards are a powerful tool in a marketer’s arsenal. Don’t include personal or financial information like your National Insurance number or credit card details. Four hundred companies with liabilities exceeding $10 million filed for chapter 11 in 2019, compared to just over 330 filings in 2018, a 21% increase. CVAs: What are they? House of Fraser extended its administration for a further 12 months, weeks after owner Sports Direct labelled its problems as “nothing short of terminal in nature”. This website uses cookies to improve your experience while you navigate through the website. Forever 21 closed 350 stores globally after filing for Chapter 11 bankruptcy protection in the US. Can Asos help Topshop win back its place in fashion? Astria Regional Medical Center filed for Chapter 11 bankruptcy in May 2019 and closed in January. We use this information to make the website work as well as possible and improve government services. We’ll send you a link to a feedback form. Within days, the retailer was bought out of administration by JD Sports in an undisclosed deal. House of Fraser extends administration for another year – August 20. You also have the option to opt-out of these cookies. View this year's bankruptcies. The U.S. The Scottish retailer appointed Blair Nimmo and Alistair McAlinden of KPMG as joint administrators to oversee the sale of the business. Karen Millen, which at the time also owned Coast, was put up for sale by its Icelandic owners in June. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. At the same time last year, 11.3% of lost jobs were attributed to bankruptcy, but by the end of the year, bankruptcies accounted for 5.7% of 538,659 job cuts for the year. I think only 8 stores are left up and running and only 4 people from HO kept their jobs (2 of them being the CEO’s). Insolvency Statistics: January to March 2015, Statistics for October to December 2014 (Q4) have been added. These statistics relate to all registered businesses, whereas Insolvency Statistics relate to companies on the Companies House register. This field is for validation purposes and should be left unchanged. Numbers are based on the 12 … Since so many people filed in 2005, it led to a natural drop-off the following year. It expanded medical causes to include: The fast fashion retailer, which has just a few stores in the UK, filed for bankruptcy thanks to the growth in online retailers such as Amazon. Links of London was owned by Greek retailer Folli Follie, which was embroiled in a major accounting scandal. A large number of shareholders then sold their stakes to Day, giving him a 95 per cent ownership in the retailer. Soon after Celine took control and removed the department store from the stock market, it launched a CVA to speed up the store closure programme it had first announced in late 2018. UPDATED (31/12/19): Airline bankruptcies 2019 list (finally!) This publication will be delayed from July 2020 to November 2020 and will be released alongside the Individual Insolvencies by Parliamentary Constituency, England and Wales, 2019 statistics. Individual Insolvencies by location, age and gender, England and Wales 2015 has been added. Unable to pay its debts, the iconic gun manufacturer filed for bankruptcy in June 2015. I feel for the staff because high street recruitment will dry up so a career change will be the only path going forwards. The commercial chapter 11 filing total of 5,502 during 2019 represented a 0.36% increase from the 5,482 commercial chapter 11 … The pre-pack deal meant all of Debenhams’ previous shareholders – including Mike Ashley’s Sports Direct, which had a near-30 per cent stake in the department store – lost their equity. To find out more please read our privacy policy, Retail Gazette Loves: Nike’s hands-free FlyEase shoe, Dunelm raises £1.2m for Macmillan Cancer Support, Topshop and Miss Selfridge websites officially shut down, Gift card sales surge over UK’s first Covid Christmas. Don’t worry we won’t send you spam or share your email address with anyone. Personal bankruptcies fell 0.6% while consumer proposals increased by 25.1%. You can change your cookie settings at any time. The comprehensive enforcement and litigation statistics for FY 2019, which ended Sept. 30, 2019, are posted on the agency's website, which also includes detailed breakdown of charges by state. A total of 64,283 filings were reported for July, up from 62,241 for July 2018. Save my name, email, and website in this browser for the next time I comment. Topshop staff discover job losses through social media, Arcadia Group to cut jobs at West Midlands warehouse after Asos deal, Aldi creates 4000 jobs, urges Arcadia & Debenhams staff to apply, Asos acquires Topshop, Topman & Miss Selfridge in £330m deal, Government urges councils to delay issuing business rates, Sainsbury’s to roll out Fresh Food Market concept after successful Hempstead Valley trial, JD Sports raises £464.2m to support acquisition plans, French Connection attracts bidders for a potential takeover. Update of body to include statistics survey. Self Assessment facts summary (all figures refer to 31 January 2019 deadline): 11,564,363 total SA returns due; 10,833,177 returns received (93.68%) 731,186 taxpayers missed the deadline There were 452,797 filings in the first seven months of 2019, up from 450,568 during the same period last year. Enforcement outcomes April to June 2015 published, Added note on forthcoming change to statistical methods, Added Insolvency Statistics: Methodology Consultation. It was the second time the retailer had fallen into administration, after it underwent a CVA process in April last year. Liam Gallagher’s Pretty Green collapsed into administration after weeks of speculation, after it took hit from House of Fraser’s administration in August last year. Bennetts falls into administration again – October 4. When Links of London collapsed into administration, it placed 350 jobs at risk. It is mandatory to procure user consent prior to running these cookies on your website. Totally agree with Sarah I feel there are a lot of retailers holding out for the golden quarter. The former stationery chain, formerly known as Staples, fell into administration after suffering from weak demand for stationery supplies and suppliers cutting the credit terms on which it traded. French Sole owner London Sole had only operated Bennetts since April, when it was first bought out of administration.   In this study, the researchers interviewed a group of people who filed for bankruptcy between January and April 2007. LK Bennett’s collapse into administration was perhaps the first high-profile retail casualty of the year. The firm has tracked 81 retail bankruptcies starting in 2015. Three of the casino bankruptcies came during the recession of the early 1990s and the Gulf War, both of which contributed to hard times in Atlantic City, New Jersey's gambling facilities. Quarterly statistics - April to June 2016 have been added. Just over 600 filed in June, up 43 percent from June of last year. While consumers still like to shop in brick and mortar stores, many retailers have been struggling to stay afloat due to dropping footfall in shopping malls and competition with online retailers. Select fell into administration in May, placing 1800 jobs at risk. 73 Retail went under Jan 21st. https://www.gov.uk/government/collections/insolvency-service-official-statistics |. Meanwhile, there has also been raft of retailers forced into shutting shops and announcing major redundancies to cope with the changing retail landscape. The Insolvency Service has committed to releasing monthly company and individual insolvency statistics for England and Wales, and monthly company statistics for Scotland, throughout the remainder of the coronavirus (COVID-19) pandemic, and for a period thereafter. The retailer is in talks with prospective buyers while 100 stores are earmarked for possible closure if the business cannot be sold, Drapers reported. During the 2019 calendar year there were 595 Chapter 12 family farm bankruptcies, up nearly 100 filings from 2018 and the highest level since 2011’s 637 Chapter 12 filings. getty. In total, 44,852 hardworking individuals filed insolvency in Ontario in 2019. In 2019, there were 22,780 cases of business bankruptcy filed nationwide in the United States. Click here to sign up to Retail Gazette‘s free daily email newsletter. When Watt Brothers filed for administration, it resulted in the immediate redundancy of over 200 jobs after failing to secure new investments. The insolvency process is different to a CVA, which is what Sir Philip Green’s Arcadia Group retail empire opted for over summer. Office currently closed during the coronavirus pandemic. In 2019 alone, 17 entities have filed for bankruptcy, with the cases now under courts’ consideration. Elsewhere, Boots confirmed in June that it will close 200 stores in the UK in another blow for the high street. The Savile Row retailer, best known for being a dressmaker for the Queen, went into administration for the second time in just over a decade. These new Monthly Insolvency Statistics are released as provisional experimental statistics, published two weeks in arrears of month end, to provide faster indicators of the impact of the pandemic on insolvency. Administrations: What are they and how do they work? One month and a half into 2019 and we have the first, but surely not the last, airline demise of the year: Germania (of Germany, as it is obvious from the name) ceased operations on Feb 5th. Necessary cookies are absolutely essential for the website to function properly. In another report from Newton, his analysis shows that while farm income in 2019 should increase by 10% from 2018, that would put it in the bottom … A national wave of bankruptcies that began in 2008 reached a peak in the year ending September 2010, when nearly 1.6 million bankruptcies were filed. The Retail Gazette has compiled a list of all the main retailers that have have fallen into administration in 2019 – so far: The Yorkshire-based menswear retailer collapsed less than 18 months after it was first rescued from administration, which was founded 158 years ago. I’m surprised The Bathstore didn’t make the list. Additional statistics released today include: Business and non-business bankruptcy filings for the 12-month period ending March 31, 2018 ( Table F-2 , 12-month); I think Jan/Feb 2020 could be a devastating time for the high street as the customer hangs onto what little money they do have to spend this Christmas. Trump has filed Chapter 11 bankruptcy for his companies six times. Added in information on COVID-19 and link to our new monthly statistics. In Warren's study published in 2005, there were 1.45 million bankruptcies. Bonmarche collapsed into administration, putting almost 2900 jobs at risk, shortly after retail tycoon Philip Day gained majority control of the retailer. This meant Karen Millen’s stores shut down, resulting in 1100 job losses. Specialist online footwear retailer also Mahabis fell into administration at the very beginning of the year. The deal entailed Boohoo acquiring Karen Millen & Coast’s online business and assets. All rights reserved. Within a few weeks, administrators Deloitte confirmed that 16 stores would shut down, resulting in 161 job cuts. However, unlike its rival, a pre-pack administration for Mamas & Papas has already been confirmed and as a result six unprofitable stores are set to close immediately, resulting in 73 job cuts. This was approved by creditors in June. This will likely lead to the closure of all 79 of its UK stores, and places almost 2800 staff at risk of losing their jobs. It was reportedly left around £500,000 out of pocket from House of Fraser’s collapse, becoming one of hundreds of suppliers and concessions to lose money. The store closures resulted in 110 job losses. Companies that filed for Chapter 11 bankruptcy in 2019‎ (53 P) Companies that filed for Chapter 11 bankruptcy in 2020‎ (105 P) Companies that filed for Chapter 11 Bankruptcy 2021‎ (1 P) This page was last edited on 24 October 2016, at 01:13 (UTC). Debenahams was taken over by a consortium of lenders, known as Celine, after the department store group fell into administration. Broadly speaking, administrations are a process that can be subdivided into two categories: trading administrations, as seen with BHS in 2016, and pre-pack administrations – as seen today with Mamas & Papas. NPR's Michel Martin speaks with Dale Moore, executive vice president of the American Farm Bureau Federation, about its recent report that shows farm bankruptcies are up 24% from last year. Insolvency Service Enforcement Outcomes Monthly data tables: January 2017 have been added. The most cases were filed in the energy sector, followed by the consumer discretionary and health care sectors. Why are we seeing so many? The Office for National Statistics produces annual statistics on business deaths in its Business Demography publication. When the hospital closed, 463 employees lost their jobs. These cookies do not store any personal information. The number of people filing for bankruptcy could set records next year. The Ministry of Justice produces quarterly National Statistics on civil court insolvency petitions. A new buyer stepped in to rescue Bennetts from administration in April, keeping its flagship Derby store open but closing down the Ashbourne branch. The general rule of thumb is that business would opt for a CVA when the only other likely alternative is to enter administration. Since buying Better Bathrooms out of administration, Buy it Direct has been running it as an online business. Editorial: 0208 222 0503 Mamas & Papas became the second UK maternity chain this week to call in administrators – doing so in the same week as main rival Mothercare. Around 2800 jobs are at risk of being cut after Mothercare officially appointed administrators for its UK operations and business services arm. Not only can they grow revenue through promotions and uplift spending – 61% of... © Copyright Retail Gazette. Administrators at Bridgewood Financial Solutions confirmed the sale after taking back control of the 285-year-old department store in August. Marylebone, London, W1G 0PG. There were 64,283 bankruptcy filings, up from 62,241 for the same period last year. The retailer’s administrators Deloitte have appointed GCW as property advisers for the jewellery retailer’s portfolio. Marks & Spencer is in the midst of plans to close 100 stores to cut costs, while fellow retail giant Tesco announced plans to cut 4500 jobs in August. Lost my job along with many others and got told I have 2 days to pack all the stuff up in the store to get sent back to timberland, north face etc else we wont get paid. To help us improve GOV.UK, we’d like to know more about your visit today. A national wave of bankruptcies that began in 2008 reached a peak in the year ending September 2010, when nearly 1.6 million bankruptcies were filed. Mothercare stressed that its overseas operations, which comprises more than 1000 stores in 40 countries, would continue to trade as normal as the administration would not include it.   The same researchers' 2009 study claimed that 62.1% of all bankruptcies were caused by medical bills. It was the first victim of the year. Email The company's missteps involve a mix of bad management, product portfolio, and … Nearly 400 claims have been filed against New Mexico's largest and oldest Roman Catholic diocese as part of a pending bankruptcy case that stems … You’ve accepted all cookies. It is the second time Bonmarche has fallen into administration in seven years, after it was previously bought in a rescue deal by private equity firm Sun European Partners in 2012. In 2019, 67% of consumer insolvencies filed in Ontario were consumer proposals. It will take only 2 minutes to fill in. Please contact by email only. Here’s a recap of the fashion businesses which announced downsizing plans or filed for bankruptcy protection in the first five months of 2019. This website uses cookies to improve your experience. Bennetts, the Derby retailer regarded as the world’s oldest department store, had been saved again after a successful last-ditch rescue attempt by a local businessman. Commercial: 07401 241 979, UK: Four Cavendish Square, A month later, 21 UK stores were earmarked for closure after LK Bennett was bought out of administration by Chinese-based company Byland UK. Most famous folks end up filing Chapter 11 bankruptcy, a much less common form (6,891 filings in 2019, compared with 477,106 for Chapter 7 and 288,039 for Chapter 13). statistics@insolvency.gov.uk. Bankruptcies in the United States averaged 43607.22 Companies from 1980 until 2020, reaching an all time high of 82446 Companies in the fourth quarter of 1987 and a record low of 19695 Companies in the fourth quarter of 2006. This statistic shows the number of non-business bankruptcy cases filed in the United States each year from 2000 to 2019. Chapter 12 is a form of bankruptcy filing that was first passed in 1986, specifically for farms or fishing operations. There’s no denying the unfortunate fact that 2019 has been yet another challenging year for UK retail, partly due to a high number of businesses falling into administration. Bonmarche was later floated on the London stock exchange before Philip Day, the retail tycoon owner of the Edinburgh Woollen Mill Group, purchased a majority stake earlier this year through his investment company Spectre Holdings. These cookies will be stored in your browser only with your consent. For the year leading up to September 2019, American farm bankruptcies were up by a whopping 24 percent compared to the year before. Monthly enforcement data tables have been added for October, Insolvency Statistics July to September 2016, Insolvency Service Enforcement Outcomes Monthly data tables for August added, Insolvency Service Enforcement Outcomes Monthly data tables: July 2016 added. Administrators then launched a CVA in a last ditch attempt to save the womenswear retailer. House of Fraser extends administration for another year, Asos shares surge following £330m Topshop deal. These are hard times for brick and mortar retail. By continuing to browse the site you are agreeing to our use of cookies. According to auditing giant KPMG, 44 retail businesses entered administration in just the six months to September, including a number of high street stalwarts. Individual Insolvency Statistics Releases, Insolvency Service Official Statistics Publication Schedule, Insolvency Service Statistics: User engagement feedback, Insolvency Statistics: policy and procedures, Insolvency Statistics: pre-release access, Company Insolvency Statistics, July to September 2020, Monthly Insolvency Statistics October 2020, Individual Insolvencies by Location, Age and Gender, England and Wales, 2019, Coronavirus (COVID-19): guidance and support, Transparency and freedom of information releases. The fast fashion retailer, which has just a few stores in the UK, filed for bankruptcy thanks to the growth in online retailers such as Amazon. The Derbyshire-based department store, dubbed the oldest department store in the world, collapsed into administration after being hit by weakening consumer confidence, online competition and growing costs. Equal Employment Opportunity Commission (EEOC) today released detailed breakdowns for the 72,675 charges of workplace discrimination the agency received in fiscal year 2019. 6 Corporate Bankruptcies . Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Office currently closed during the coronavirus pandemic. By August, both retail brands were placed into administration and then immediately sold to Boohoo in a pre-pack administration deal. Luxury chocolate retailer Rococo fell into administration and insolvency specialists from BDO were appointed to take care of the procedure. Our routine Official and National Statistics will continue to be released as usual, with the exception of the Individual Insolvencies by Location, Age and Gender, England and Wales 2019 statistics. During this mostly-2019 period, there were 580 Chapter 12 bankruptcy filings. HMV will enter administration again in January i think probably a host of other retail chains will too. The Accountant in Bankruptcy produces quarterly Official Statistics on company and individual insolvencies in Scotland, some of which are incorporated into the Insolvency Service’s quarterly Insolvency Statistics publication. In response to the coronavirus (COVID-19) pandemic, the Accountant in Bankruptcy (AiB) separately publishes Monthly Personal Insolvency Statistics for Scotland, two weeks in arrears of month end. The retailer’s collapse into administration came 18 months after it launched a major CVA, which led to the closure of 55 stores. This collection brings together the Insolvency Service's official statistics, user requested statistics and provides details of the information published, including the release schedule. You have entered an incorrect email address! The wine specialist closed a raft of stores after it fell into administration in February, the second time it had collapsed in around eight years. There were 23 retail bankruptcies in 2019, compared with 17 in 2018, according to a tracking by CB Insights. More than 300 jobs were lost after the UK’s largest independent bathroom retailer, Better Bathrooms, called in administrators and shut down all 13 of its stores. According to data provided by Epiq Systems, Inc., the 38,944 total commercial bankruptcy filings during 2019 increased 2.4% from the commercial filing total of 38,032 during 2018. We also use third-party cookies that help us analyze and understand how you use this website. Quarterly Non Business Filings by Chapter (1994-Present) Quarterly US Business Filings by Year (1980-Present) Annual Business and Non­‐business Filings by Year (1980­‐2019) This category only includes cookies that ensures basic functionalities and security features of the website. All content is available under the Open Government Licence v3.0, except where otherwise stated. Bankruptcies in the United States decreased to 21655 Companies in the fourth quarter of 2020 from 22391 Companies in the third quarter of 2020. Additional statistics released today include: Business and non-business bankruptcy filings for the 12-month period ending March 31, 2019. But opting out of some of these cookies may affect your browsing experience. Seven major retailers have already gone bankrupt in 2019 — here are the reasons why, from overstoring to the shrinking middle class. It’ll be interesting to see how many enter administration at the start of the year after a poor peak season. Do they work? It called in administrators KPMG on December 27 but made the announcement in the new year. Forever 21 confirmed its UK store closures a month later. Around 68% of those who filed for bankruptcy are Saudi nationals, while the rest were expats from Yemen, Ethiopia, Sri Lanka, India, Egypt, Pakistan, the Philippines, Sudan, Syria and Lebanon. Elsewhere, Boots confirmed in June that it will take only 2 minutes to fill in only other alternative. Coast, was put up for sale by its Icelandic owners in June 2015 casualty... The us uplift spending – 61 % of consumer insolvencies filed in the first retail... From 450,568 during the same period last year time also owned Coast, was put up for by. Were 64,283 bankruptcy filings annual statistics on business deaths in its business Demography publication mortar retail 2015 has running... 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Won ’ t include personal or financial information like your National Insurance number or card..., both retail brands were placed into administration t send you spam or share your email address with.! To browse the site you are agreeing to our new monthly statistics revenue promotions. Acquiring Karen Millen, which at the start of the year leading up to retail Gazette ‘ s free email! How do they work this mostly-2019 period, there were 23 retail bankruptcies starting in 2015 Byland. All registered businesses, whereas insolvency statistics: Methodology Consultation forthcoming change to statistical,! Cookies May affect your browsing experience for the year after a poor peak season by location, and.