Credit, Collections & Insolvency News
The latest Begbies Traynor Red Flag Alert report has painted a worrying picture forbusinesses with nearly 40,000 companies are revealed to be in a critical financial situation as the pressure of higher interest rates, resilient inflation and weaker consumer confidence take their toll. Begbies Traynor says that these pressures are now clearly being seen beyond…
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Debt advice specialist PayPlan has announced the launch of a new customer supportservicel by partnering with LanguageLine Solutions, to offer real-time interpreting in up to 240 different languages. In line with PayPlan’s commitment to its Consumer Duty responsibilities, this partnership ensures that free debt advice is accessible to customers who previously faced language barriers, making…
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New data from small business lender iwoca has revealed that while more than half of SME owners (55%) feel they have a good understanding of AI, the majority are nervous about how it will impact their business. The new research also finds that three in ten (27%) SMEs are now using products like ChatGPT across…
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Latest quarterly figures from the Insolvency Service for England & Wales have indicated business insolvencies in Quarter 3 (Q3) fell 1.8% on the previous quarter, The figures show between July and September 2023, there were 6,208 company insolvencies, made up of 4,965 creditors’ voluntary liquidations (CVLs), 735 compulsory liquidations, 466 administrations, 41 company voluntary arrangements…
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New figures from trade body UKHospitality in partnership with CGA by NIQ, has revealed that the number of licensed premises has fallen by nearly a third (31%) in the last two decades. The figures highlight the seismic changes in hospitality and the sustained periods of pressure the industry has been under, more recently exacerbated by…
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