https://news.sky.com/story/nottingham-city-council-declares-itself-effectively-bankrupt-13018935
Breaking
The local authority issues a section 114 notice, with a statement saying it cannot deliver on its legal requirement to balance its budget this year.
Nottingham City Council has declared itself effectively bankrupt after issuing a section 114 notice.
The Labour-run local authority confirmed the announcement on Wednesday, saying its chief financial officer had decided it "isn't able to deliver a balanced budget for this year, which is a legal requirement".