UK’s Second Largest: Birmingham City Council Declares Bankruptcy

UK’s Second Largest Birmingham City Council Declares Bankruptcy

The second-largest city in Britain essentially declared bankruptcy by ceasing all non-essential spending after receiving equal pay claims for up to £760 million ($956 million). Birmingham City Council, which serves more than a million people, submitted a Section 114 notice on Tuesday, suspending all expenditures save from those for essential services. According to the notice […]

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