Credit, Collections & Insolvency News
A total of 169 corporate insolvencies were recorded in Ireland in the first half of 2021, according to analysis of the latest insolvency statistics published by Deloitte. The figures represent a decrease of 38% from H1 2020 when 273 insolvencies were recorded. On a quarterly basis, a total of 58 corporate insolvency incidents were recorded…
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The Financial Services Compensation Scheme (FSCS) has paid out £584 million in compensation helping 52,623 (1,131 firms) families and businesses in the past year (2020/21). The FSCS has either paid customers compensation or enabled them to transfer to a new financial provider for their investment or insurance policy. The latest figures compare to £527 million…
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Despite Covid-19’s impact on personal finances, over three quarters (77%) of UK homeowners over the age of 40 are confident about their current financial situation, research from Canada Life has revealed. However, when looking further ahead, they are less positive about their retirement prospects. 16% don’t feel they will have enough pension savings to fund their…
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Nearly half of SME businesses (46%) contemplated closure in 2020, whilst now only 1% are considering closing their business this year according to research by Purbeck Personal Guarantee Insurance. The research survey of owners and directors of UK showed that further lockdowns is the number one worry for the SMEs but 53% are cautiously optimistic…
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2.4 million employees still furloughed after May reopening according to latest HMRC JRS statistics. The HMRC data shows that the number of people on furlough fell by over a million during May, from 3.5 million on 30th April to 2.4 million on 31st May. Resolution Foundation analysis suggests that the number of employees on the…
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UK Finance has announced four new appointments to its board. Matt Hammerstein, CEO of Barclays Bank UK; Lucy-Marie Hagues, CEO of Capital One UK; John Hourican, Chief Executive of NewDay Group; and Max Roberts, UK Country Lead for Stripe, have joined the board. Vim Maru, Lloyds Banking Group and Tracey McDermott, Standard Chartered have stepped…
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