Credit, Collections & Insolvency News
A survey of over 500 pub owners undertaken by the Forum of Private Business (FPB), found that nearly four out of every ten reported that they are less than confident of surviving a June lockdown. The survey of 560 pubs carried out on behalf of the FPB in the last two weeks of April indicates…
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New finance provider Azzurro Associates, is looking to provide cash against at least £ 1 billion of UK businesses’ unpaid invoices to help provide much-needed liquidity in the coronavirus crisis. The new service aims to help businesses clear their growing unpaid debts. This is the first time that companies operating in the B2B sector have…
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Nationwide Building Society has used artificial intelligence (AI) to trains a virtual assistant to help provide customer support. The building society is using its virtual assistant to answer questions about mortgage support for those impacted by coronavirus. The software, called Arti, has been supporting the Society’s frontline teams by learning how to respond to some…
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Secure Trust Bank has announced that Rachel Lawrence has been appointed as Chief Financial Officer of the Company (CFO), subject to regulatory approval and satisfaction of certain other conditions. Lawrence is expected to commence employment with the Company on 7th September 2020. Paul Lynam, CEO at Secrure Trust Bank said “Rachel has a robust financial background…
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Scottish Parliament has published a new bill to amend bankruptcy legislation. The Coronavirus (Scotland No.2) bill will be subject to an expedited procedure and subject to Parliament’s approval, is likely to come into force by the end of the month. The Bill includes proposals to make a number of important changes to current bankruptcy legislation,…
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Accountants representing over 20,500 SME clients in the UK have reported more businesses have decided to dissolve or liquidate in last week, despite a bounce in confidence about the long-term situation due to the Covid-19 pandemic. The results are revealed in the latest ACCA UK and The Corporate Finance Network’s (CFN) SME Health Tracker, showing…
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Analysis from TheCityUK reveals that British firms could hold as much as £105bn in unsustainable debt by March next year. The financial services industry body has set up a recapitalisation group to agree on a collective response to the coronavirus pandemic from industry and government. The Group has written to Bank of England Governor, Andrew…
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