Reports that Canadian subscription box supplier Nerd Block has gone to the wall is bad news for an army of suppliers waiting on months of unpaid invoices.
Subscription boxes are big business, and the market is growing by the day. With the success of major brands such as Loot Crate charging £20 or more for a monthly box of goodies delivered to your door, similar companies have sprung up around the world.
After Monarch went bankrupt and left thousands of passengers stranded, it looks like Air Berlin, the second largest German airline, looks likely to be the next carrier to close down operations.
While Air Berlin is fizzing out slowly, in contrast to Monarch’s overnight collapse, as many as 9,000 redundancies are expected once it finally winds up with many small and medium sized suppliers braced for significant losses.
While economic growth continues to be sluggish at home, plenty of UK businesses are finding opportunities to do business abroad.
Latest figures show that UK exports outside the EU are enjoying a surge. They rose by an impressive 8.3 per cent in 2016 to a value of £311.6 billion, compared with exports to the EU amounting to £235.9 billion.
Read more: Which Countries Are a Safe Pair of Hands on Insolvency?
The lessons of the 2008 banking crisis seemed obvious. Economic growth built on the shaky foundations of unsustainable debt was nothing more than a house of cards ready to come crashing down.The lessons of the 2008 banking crisis seemed obvious. Economic growth built on the shaky foundations of unsustainable debt was nothing more than a house of cards ready to come crashing down.
A decade on, it’s hard to make a case that much has changed. On the face of things, there is a renewed mood of optimism that we might be on the verge of good times again. The IMF’s latest World Economic Outlook upwardly revised its prediction for global economic growth to 3.9 per cent for 2018 and 2019, up 0.2 per cent from its forecast just six months ago.
Read more: Global Growth Forecasts Are On the Up… But So is Debt
