Company failures have jumped higher again in March due to a surge in firms collapsing into administration as experts warned more may go bust as the Iran war and soaring wage bills send costs surging.
Latest data from the Insolvency Service shows the number of company insolvencies rose 7% month-on-month in March to 2,022.
Company administrations surged 52% between February and March to 235, and were 82% higher when compared with March 2025, while compulsory liquidations jumped 18%.
Workspace sees shares slump after warning over profits and dividend cut
Flexible office landlord Workspace Group has warned over a ‘substantial’ hit to profits in the year ahead as it faces rising costs and falling rents.
Shares in the FTSE 250 firm slumped 13% in morning trading on Friday as it said results for the year to March 2027 would be impacted by lower rents and occupancy rates amid wider economic uncertainty, as well as rising debt and energy costs.
Workspace said that while trading profits are set to be in line with market expectations for the past year to the end of March, it was bracing for a ‘substantial step down’ in 2026-27 earnings.
Mini and Vagabund collaborate to create two unique Mini Countrymans
Mini has partnered up with Vagabund to create two unique Mini Countrymans that have been inspired by festival culture and music.
Vagabund is an Austrian design studio that specialises in turning cars and motorcycles into unique creations and the two Mini Countrymans are its latest project.
The collaboration starts with Mini supplying the Countryman platform, while Vagabund is responsible for designing the more rugged off-road look and bespoke sound system that is fitted to both cars.
The markets
The FTSE 100 ended the week on a high on Friday, as Iran declared the Strait of Hormuz completely open, sending oil prices sharply lower.
The FTSE 100 closed up 77.64 points, 0.7%, at 10,667.63. For the week, the index 100 rose 0.6%, while the the FTSE 250 surged 3.8%.
In European equities on Friday, the Cac 40 in Paris ended up 2.0%, and the Dax 40 in Frankfurt rose 2.3%.
Arnold Clark faces a new group legal claim in Scotland after a 2022 data breach exposed customer data. A court ruled 15,000 motorists can sue locally, potentially increasing compensation costs following the hack.
The Car Dealer Briefing from James Baggott summarises the week’s most important motor trade headlines for you all in one place.
Car dealers are increasingly using personal branding on social media to build trust, as buyers prefer digital, low-pressure interactions. Dealers say customers now ‘buy from people’, with influencer-style content helping create familiarity and drive engagement before any showroom contact.
New EVs are now cheaper than petrol cars on average, says Autotrader, with prices £785 lower due to heavy discounts and grants. Rising affordability and demand are boosting interest, while brands like MG lead growing EV enquiries.
Starmer ‘would not have appointed Mandelson if he was aware of vetting failure’
Sir Keir Starmer would not have appointed Lord Peter Mandelson as US ambassador if he had known security officials did not grant the peer a high-level vetting status, a senior minister has said.
The Prime Minister is under fire amid the latest revelations in the scandal related to Lord Mandelson’s appointment to the Washington DC posting, perhaps the most coveted role in British diplomacy.
Lord Mandelson was sacked last year, less than a year into the job, because details of his association with the paedophile financier Jeffrey Epstein emerged in files published by the US government.
Donald Trump says US negotiators heading to Pakistan for talks with Iran
President Donald Trump said that US negotiators will head to Pakistan on Monday for talks with Iran, lifting hopes of extending a ceasefire set to expire this week even as Washington and Tehran remain locked in a standoff over the Strait of Hormuz.
The prospect of talks on the horizon, which Iran did not immediately confirm, came as ships remain unable to transit the critical waterway amid threats from Iran and a US blockade on ships heading to and from Iranian ports.
Iranian officials said earlier on Sunday that they remained open to negotiation, but held firm that ships would not pass the strait while the US blockade remained in effect.
Weather outlook…
The UK will today see a fairly mild but changeable spring day. In the south, there will be a mix of sunshine and cloud with a chance of a light afternoon shower, reaching around 12–13 °C. The Midlands will be similar but slightly cloudier.
In northern England and Scotland, it will feel cooler and more unsettled, with more cloud and scattered showers, especially in the north, with temperatures closer to 9–11 °C.
Overall, expect a mixed but generally mild day with occasional showers and brighter spells across the country.
