Credit, Collections & Insolvency News
Digital bank Tandem has announced that it has secured £20 million in Tier 2 capital from Quilam Capital, a growth investor with expertise in the speciality finance sector. The capital raise concluded in late June 2023, following a process supported by financial services advisor Alantra. Commenting on the transaction, Alex Mollart, Chief Executive Officer of…
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Acquisitions that go wrong are a top cause of business insolvency, according to Purbeck Personal Guarantee Insurance. Purbeck says an over-reliance on accountants, and bad debts or payment disputes, were also major reasons why business owner’s dreams ended in a nightmare. Firms window dressing their business to make it appear more secure than it actually is…
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Stronger economic growth is fundamental to restarting rising living standards in the UK, but must be accompanied by reform to our economy and benefits system if the rewards are to be widely shared, according to new Resolution Foundation analysis. While some argue that growth isn’t desirable and doesn’t feed through to rising wages for normal…
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The number of retail business insolvencies jumped 56% in the past year, to hit the highest levels in at least a decade – 1,942 in 2022/23, up from 1,243 in 2021/22 shows new research from international law firm RPC. Despite the challenges faced by the sector, the insolvency of financially weaker retail businesses is creating…
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The number of households struggling with heavy debt has increased by two thirds since 2017, according to charity Debt Justice. The report shows that around 12.8 million adults in the UK are falling behind on bills or finding repayments a struggle. The Financial Conduct Authority’s Financial Lives survey found that 7.7 million adults in the…
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