Credit, Collections & Insolvency News
Following a concentrated period of uncertainty, new research from Hitachi Capital Business Finance found a significant proportion of small businesses are considering finance to enact their plans for 2021, as confidence gradually returns. Looking ahead to 2021, just over half (56%) of small business owners said they were considering taking finance for some of the…
Read more
The demand for the government-backed CBILS loans is set to soar by UK businesses as their Bounce Back Loans dwindle and cash flow dries up, according to the latest MarketFinance business insights. The company says that of the businesses that applied for a Bounce Back loan (up to £50k) during the summer, they now have…
Read more
Millions of households are set to ration their energy usage this winter out of worry that they cannot afford their energy bills. According to new research by comparethemarket.com, nearly a third (31%) will ration their heating during the coming months to combat rising household bills as a result of the second national coronavirus lockdown. Rising…
Read more
Sir Philip Green’s Arcadio retail group is on the brink of collapse with around 15,000 jobs at risk. The Arcadia Group, which runs the Topshop, Dorothy Perkins and Burton brands, is expected to appoint Deloitte as administrators within days. The group has more than 500 retail stores across the UK with the majority of these…
Read more
Nucleus Commercial Finance has revealed that a quarter (23%) of SMEs in the UK had little or no savings before the pandemic hit earlier this year, including 42% of sole traders, according to new research. The research showed that many UK SMEs are deeply concerned about the lasting effects of COVID-19 on their business, with…
Read more
Almost 700,000 consumers, including 120,000 children, have been plunged into poverty as a result of the pandemic economic crisis, according to research by the Legatum Institute. The report provides the first estimates of poverty in Winter 2020 using the Social Metrics Commission’s approach to measuring poverty, which the Government is currently developing as an Experimental…
Read more