Credit, Collections & Insolvency News
Challenger credit card fintech, Keebo has announced it has closed £5 million in a seed equity funding round. Further to the investment, the fintech startup has been awarded three technology grants from the UK Government, totalling £425,000. AKeebo is also supported by, and launching with, Mastercard. Keebo is the only credit card and app company…
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Sub-prime lender Morses Club announced that it is proposing a significant reorganisation of its business and corporate structure. which includes forming a holding company called U Money and listing new shares under that name. The company says once U Money is formed it will run its company as two distinct businesses, one its home-collected credit…
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The Government has revealed new insolvency legislation that will protect businesses that accrued debt and arrears as a result of the Coronavirus crisis. Under the new rules, new provisions will be introduced that will ringfence rent debt caused by ‘enforced closures’ and set out a process of binding arbitration to be undertaken between landlords and…
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GlaxoSmithKline (GSK) has been reinstated to the Prompt Payment Code after meeting the more demanding requirements of the reformed Code. Two entities of GlaxoSmithKline (GSK) – GlaxoSmithKline Consumer Healthcare (UK) Trading Limited and GlaxoSmithKline UK Limited, were suspended from the Code on 1 November 2019, after their payment reports from January – June 2019 failed…
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An Institute of Directors (IoD )survey of over 700 Directors has shown that 44% of businesses are currently experiencing staff shortages – a development that risks undermining the recovery and stoking emerging inflationary pressures. Of those affected, 65% attribute worker shortages to the UK’s long-term skills gap, whilst 4 in 10 are struggling with a lack of potential…
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