With the European Council’s decision on 21st March to allow a slight – and conditional – extension to the date that the United Kingdom leaves the EU, the chances of a No Deal Brexit have decreased somewhat. What has not changed is the level of uncertainty as to what will happen, and the implications for…

Amongst the many causes of financial challenges encountered by businesses and retailers in recent years, payment of invoices is one not so often talked about. Unpaid invoices, while often not the primary cause of difficulties faced by businesses and high street retailers, can only compound the array of factors contributing to further financial woes. If…

Azzurro Associates has announced it has appointed Karen Savage as Chief Operating Officer. In her new role Savage will oversee the company’s business operations. She will also assist the company’s CEO in accelerating the company’s external partnerships and origination opportunities, ensuring the alignment of progress towards fulfilling Azzurros strategic objectives. Prior to joining Azzurro in…

The Money Advice Trust has today launched its revamped ‘How to deal with debt’ guide for England and Wales. The guide takes people in debt through the steps they need to take to deal with their financial situation from start to finish and draws on behavioural science techniques to keep users engaged and motivated throughout…

Debenhams has entered pre-pack administration with control of the company now falling into the hands of its lenders as part of an administration process. The company has 166 stores, which for now continue to trade, although it has indicated that 50 branches are earmarked for closure in the future. Its lenders include Barclays and Bank…

Ofwat has allocated customers affected by the proposed liquidation of Aquaflow Utilities to Clear Business Water, following a competitive process. Ofwat have worked with the market operator, MOSL, to switch affected customers and they should be receiving information from Clear Business Water soon. Ofwat has used powers under the Interim Supply Code, and stepped in…

Research released from Barclays has revealed that one in seven (14 percent) SMEs have fallen victim to an invoice scam in the last 12 months. Exclusive data from the bank also shows that a quarter (28 percent) of reported invoice scams resulted in losses of more than £5000. The bank’s figures also reveal that hotspots…

Small and Medium Enterprises (SMEs) represent more than 99% of all European non-financial corporates and depend on banks for 70% of their external financing. Generating close to 60% of total Gross Value Added, they employ over 90 million people. Euler Hermes’ new study focuses on SMEs as critical actors in the European economy; it estimates…