Credit, Collections & Insolvency News
Insolvency specialist, Begbies Traynor Group has announced that it has completed the acquisition of CVR Global in a deal worth a potential £20.8 million. The deal represents the largest insolvency acquisition that the Begbies Traynor Group has undertaken to date delivering a significant expansion of the group’s scale in London and the South of England…
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Personal insolvencies increased by 2% to 9,518 in December 2020 when compared to November’s figure of 9,328, and were 13.4% higher than December 2019’s figure of 8,391. Further analysis of the data on personal insolvencies has revealed a 38% increase in England and Wales over the last three months compared to the same quarter in…
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The number of company insolvencies in England and Wales rose to 1,228 in December, data from the Insolvency Service has revealed. The figures are up by 9.2% on December 2019 and mark the first increase since February, with Government support rolled out amid the coronavirus crisis helping prevent a number of company failures – with…
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Scottish personal insolvencies in December 2020 fell by almost a third (33%) when compared with December 2019 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that in December 2020 that there were 9,070 personal insolvencies in the calendar year 2020, 4,542 (33.4%)…
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Scottish business insolvencies in December 2020 fell by almost half compared with December 2019 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that there were 57 company insolvencies registered in Scotland, 36% lower than in December 2019. This comprised of 21 compulsory…
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Loans Warehouse has announced that it has appointed Greg Chase to its Short Term Finance team. Chase will be tasked with further expanding the specialist brokers bridging proposition – an area that Loans Warehouse has been bolstering over recent months. Most recently Chase was a broker, specialising in commercial and bridging finance, with the Commercial…
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Northern Irish personal and business insolvency numbers remained low according to the latest figures published by the Insolvency Service. In December 2020 there were 156 individual insolvencies in Northern Ireland which was 17% lower than December 2019. The figures consisted of 132 IVAs, 15 DROs and nine bankruptcies. Overall, the numbers of individual insolvencies have…
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Even before the Coronavirus pandemic, the economy was volatile and squeezed. Household debt in the UK was the second highest among the G7 countries, and people were borrowing to facilitate their lifestyles with few households able to save. There was an increase in buy now pay later mentality, a reliance on the bank of mum…
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From the moment Covid-19 swept across the globe and became a pandemic, Experian has been tracking the impact of the virus on the UK economy, and the businesses and consumers that drive it. We have brought together our market-leading data and enthused it with insight from our experts to deliver a comprehensive view of the…
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