21st February 2022 - Credit Connect

17,219 chain store shops closed last year

21st February 2022 Business | #high street closures

Over 10,000 chain store branches disappeared from Great Britain’s retail locations in 2021. In total, 7,160 shops opened, compared to 17,219 closures, a net decline of 10,059, according to PwC research compiled by the Local Data Company (LDC). Although the net change has worsened since 2020, the number of closures per day has remained stable,…

Lender issues profit warning as CEO steps down

21st February 2022 Alternative Consumer Lending |

Morses Club an established provider of non-standard financial services has announced that pre-tax profits will be up to 30% lower than expected. The company says that its cost base of the Home Consumer Credit (HCC) division has been impacted in recent days by a rapid increase in claim volumes submitted via claims management companies. As…

Car Finance company sees 15% increase in loan amounts

21st February 2022 Consumer Lending | #car finance

Car finance company, Go Car Credit has reported a 15% increase in average car loan amounts from 2020 to 2021. Reporting a 25% increase in secured agreements in 2021 compared to 2020, it appears vehicle financing continues to see a boost despite the pandemic and semi-conductor shortage. With the average age of those taking out…

Azets expands Thames Valley team with senior hire

21st February 2022 Appointments | #insolvency appointments

Regional accountancy and business advisor to SMEs, Azets has boosted its expansion plans for the Thames Valley team, based in Newbury and Reading, with the appointment of Neil Elsden as Accounts and Business Advisory Partner in the Newbury office. Since qualifying in 2000, Elsden has advised a wide range of businesses from startups to corporates…

Almost two-thirds of Irish SMEs find it difficult to access credit

21st February 2022 Credit and Collections | #credit management #ireland

Almost two-thirds (63%) of Irish SMEs are finding it difficult to access credit, creating a barrier to economic recovery according to figures from the latest quarterly Linked Finance SME Confidence Index, based on research conducted by Behaviours & Attitudes. Even with increased support for Irish SME businesses throughout the pandemic via payment breaks and loan…

Ofgem confirms two energy supplier failures

21st February 2022 Business | #energy company insolvencies

Ofgem has confirmed that two small energy retailers have become the latest suppliers to exit the market. Whoop Energy and Xcel Power have announced they are ceasing to trade. Whoop Energy supplies 262 unique customer accounts, gas and electricity, 50 domestic and 212 non-domestic. Xcel Power has 274 unique customer accounts, gas only, and all…

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