Credit, Collections & Insolvency News
In a 2018 report compiled by the Money & Mental Health Policy Institute, experts discovered that over 100,000 people in problem debt attempt suicide each year in England alone. This harrowing statistic has likely been further exacerbated by the economic turmoil of 2020 and the coronavirus pandemic, which has caused record levels of redundancies and…
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Restructuring and insolvency specialists Greenfield Recovery has announced that it finalised the acquisition insolvency practice Cirrus Professional Services. Cirrus Professional Services was established by ICAEW-licensed insolvency practitioner Simon Gwinnutt. Gwinnutt has over 30 years of restructuring and insolvency experience, both corporate and personal. Cirrus Professional Services has historically undertaken client assignments from professional referrers, such…
Read moreBusiness restructuring and insolvency practice Clarion has announced the appointment of Victoria Kay as Legal Director. The company says Kay has notable corporate restructuring and insolvency experience having acted in respect of both the sale and purchase of a number of high-profile distressed businesses across sectors including football, retail and leisure. Commenting on the appointment…
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Research by Moody’s has found that the UK has the highest number of distressed companies in Europe. Across the continent, there were 113 companies with a B3 negative rating or lower in December, with the UK accounting for the highest proportion with 28 distressed companies. The number of distressed EMEA companies on Moody’s latest B3N…
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The government has announced a new extension to breathing space measures that will be used to protect businesses from insolvency during the coronavirus (Covid-19) pandemic. The government announced it intends to extend the power (granted through the Corporate Governance and Insolvency Act) to make temporary amendments or modify the effects of corporate insolvency and governance…
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New research by the Fabian Society has found that over 700,000 people in working or disabled households are to be pulled into poverty by universal credit cuts. The government has indicated that they will decide in early March whether to keep or scrap the temporary 12-month Covid payment giving claimants just a month to plan…
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The British Beer & Pub Association (BBPA), has revealed that it believes that 29,000 pubs, 60% of all pubs in the UK, will still remain closed if outdoor service is permitted at pubs from April. The trade association says this is because the majority of pubs in the UK do not have a big enough garden…
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