#business-insolvency

#business-insolvency

Stephen Friedman was overdue filing when he went into liquidation on 2 February, closing his London gallery immediately (his New York venue shuttered around the same date). At the time of writing, invoices remain unpaid and artists unable to retrieve works from storage companies. In a statement, Friedman says 'all matters are now subject to the administrator's consideration'.

Accounts filed at Companies House show SL6 Ltd recorded a loss of £2.05m for the year to 2024, up from £1.39m the previous year, despite turnover of £8.9m. Administrative expenses totalled £8.4m, including £2.3m in cost of sales, while staff costs rose to £4.07m, reflecting inflationary pressure and higher wage bills.

A digital marketing agency run by a former AFL star has reopened, despite owing more than four million dollars to staff, suppliers and the tax office.

This year has been a rough one for retailers. Business bankruptcies across the country have been on the rise in recent years, according to an analysis from the Administrative Office of the US Courts, and 2025 has seen several prominent retail brands involved. Some retail brands started the year already engaged in the bankruptcy process, while others filed for protection as the months went by.

The number of business insolvencies filed in Germany increased by 2.4 percent in June compared to the previous year, according to data released by Germany's statistical office (Destatis).