Credit, Collections & Insolvency News
Audit, tax and consulting firm RSM says that whilst a spike in corporate insolvencies as great or greater than the levels last seen in 2008 is almost inevitable, the current numbers being mooted represent a major exaggeration. RSM believes there will be an initial flurry of insolvencies, as was seen in 2008, for those businesses…
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The Government has announced further measures to support firms impacted by Covid-19, including widening access to the Coronavirus Business Interruption Loan Scheme (CBILS) and creating a new scheme for larger firms. Launched on 23 March, today the Coronavirus Business Interruption Loan Scheme (CBILS) has been significantly expanded along with changes to the scheme’s features and…
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The Central Bank of Ireland has published its second Quarterly Bulletin of 2020, which focuses entirely on the impact of the Covid-19 pandemic. In terms of its impact on the economy, Covid-19 has triggered a severe economic shock that is fundamentally different in nature and scope from types of shocks previously witnessed. For the Irish…
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Cifas, the UK’s leading fraud prevention service, is warning people working from home to be extra vigilant of fraud following a huge surge in coronavirus scams. The warning comes as Cifas sees a huge spike in online activity around coronavirus. On March 1st 2020 there were just 3,000 internet domains containing the phrase ‘coronavirus’, and…
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The Chartered Institute of Credit Management (CICM) Chief Executive has issued a warning that payment holidays could be simply delaying a business’ collapse, following research that found that a third (34%) of credit managers have been asked to renegotiate or ditch existing payment terms The CICM says that payment holidays and time to pay, while easing…
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Elizabeth Jenkin has joined Nimbla as Chief Commercial Officer. Jenkin joins from Lloyds Broker RFIB and previous to that Aon where she worked for 18 years, latterly serving as Chief Broking Officer for EMEA. Jenkin has a total of 25 years’ experience in insurance and reinsurance having begun her career underwriting at Euler Hermes before…
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Quantuma has announced it will acquire Manchester-based specialist insolvency and advisory firm Bell Advisory following a period of significant growth in Manchester. Bell Advisory has two team members, Gary Bell (founder) and Paul Llewellyn, both of whom will join the business advisory firm as restructuring and insolvency director and manager respectively. Bell Advisory will operate…
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