Credit, Collections & Insolvency News
Lloyds Banking Group has announced that it has already paid more than £1 billion to small businesses as part of the Government’s Bounce Back Loans Scheme (BBLS), following its launch on Monday (4th May). The lender says that more than 32,000 of its small business customers applied. RBS said that it had received 58,000 Bounce…
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E.ON has announced its latest steps following its acquisition of npower and outlined proposals to combine the two companies’ successful Industrial & Commercial (I&C) supply activities in the UK. Following E.ON’s acquisition of npower in late 2019, npower Business Solutions (nBS) was ‘carved out’ and has continued to operate successfully and independently. Bringing the two…
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The Society of Motor Manufacturers and Traders (SMMT) has revealed that the number of new car sales in the UK has declined by 97% in April. Only 871 cars went to retail customers last month, with the rest of the 4,321 cars sold going to fleets or business buyers. The figures are at the lowest…
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A report from the Centre for Economics and Business Research (CEBR) think-tank and polling company Opinium shows that 591,000 businesses are at high risk of going bust as a result of the COVID-19 pandemic – a figure representing one in ten UK businesses. The study also suggests that more than a quarter of a million…
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Age UK has written an open letter to the Financial Conduct Authority (FCA) to help older and vulnerable customers who are struggling to get cash as the lockdown continues, saying that “we are now approaching a critical time in the crisis…for older people.” The letter asks the FCA to consider introducing guidance to force banks…
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Citizens Advice is calling for immediate changes to Universal Credit ahead of a potential second wave of claims when the government’s protection schemes come to a close. Data released today by the Department of Work and Pensions shows 1.9 million households have made a claim for Universal Credit in the last two months. This equates…
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Julia Reuszner has been appointed the new Chief Risk Officer (CRO) at Intrum’s head office. Resuszner joins from Pepins Group AB, a digital equity funding platform, where she is currently the Chief Executive Officer (CEO). Reuszner has a broad background from both the financial sector and the e-commerce industry, and her previous roles include CFO…
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Begbies Traynor has announced that experienced insolvency practitioner Laura Baxter has been promoted to Director. Baxter was appointed to the position of Assistant Manager in 2016, becoming a manager the following year. She was promoted to Senior Insolvency Manager at the firm’s Hull office in 2019. With over 13 years’ experience of providing insolvency advice…
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