Accountant in Bankruptcy (AiB) has released official statistics reporting company insolvencies in Scotland for the fourth quarter (January to March 2018) of 2017-18. Corporate insolvencies increased from 846 in 2016-17 to 886 in 2017-18. The number of corporate insolvencies in Scotland rose by 28% in Q4 2017-18 (January-March 2018) compared with Q3 2017-18 (October-December 2017),…

The number of failures within the UK’s construction sector increased by 73.3% in Q1 2018 according to new figures from Creditsafe. The quarter kicked off with unexpected collapse of Carillion, which left thousands of suppliers unpaid and countless employees without work. The impact was clearly felt in the construction industry as four of the top…

The Federation of Small Businesses (FSB) is urging the Financial Conduct Authority (FCA) to provide more protection for small business owners who use personal assets as collateral for commercial loans. At present only the smallest firms can currently make a complaint to the Financial Ombudsman (FOS). The FCA is proposing to widen the definition of…

Credit managers, those who keep the cash flowing in business, are untroubled by Brexit, unimpressed by new regulation, and keen to see how new technology can enhance performance in the future. They are also valued by the companies who employ them, and actively involved in the performance and success of the businesses they represent. These…

Debt owed to UK businesses across eleven core business sectors was £580m higher in the last three months than in Q4, 2017 according to latest figures from a Creditsafe. After falling to a 12-month low in Q4 2017 with £157.9m being filed, bad debt (debt owed to businesses) filed in the first quarter of 2018 reached…

A new study of over 1600 larger UK retailers with total assets of £5 million or over by Company Watch, the financial analytics firm, found over a quarter were financially vulnerable to rises in interest rate costs this year. Company Watch reviewed the latest published full-year financial accounts of 1625 UK retailers. It found that 392 (24.1%) companies…

Scotland has the lowest proportion of firms at greater than average risk of insolvency of anywhere in the UK, although the percentage of Scottish companies at elevated risk has risen sharply over the last six months, according to research from insolvency and restructuring trade body R3. In the April figures, Scotland has the lowest overall…

Sixteen shops are closing on the high street every day. The rate has doubled in a year, with the retailers blaming a perfect storm of rising prices, online competition and a slump in consumer confidence according to research by PwC. New figures compiled by PWC and Local Data Company, a retail analytics company, have shown…

A financial controller has received a lengthy bankruptcy restrictions order following a trial for diverting funds from her employer to herself. The 13-year Bankruptcy Restriction Order made on 15 February 2018 against Chasjit Verma of Romford, Essex, followed an investigation by the Insolvency Service. Chasjit Verma was made bankrupt on 4 March 2016, having presented her…

1 2 3 32