21st July 2025 - Credit Connect

Scottish business insolvencies fall by 4%

21st July 2025 Business | #scottish business insolvencies

Latest figures from the Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland fell by 4% in June 2025. The data showed that there were 105 business insolvencies registered in Scotland, 4% lower than the number in June 2024. The insolvencies comprised of 62 CVLs, 37 compulsory liquidations, five administrations and one CVA. There…

Firstsource to acquire Pastdue Credit Solutions

21st July 2025 Arrears and Recoveries |

Firstsource Solutions, a global provider of specialist domain-led Business Process Services (BPS) and an RP-Sanjiv Goenka Group company, has announced that it has signed an agreement to acquire Pastdue Credit Solutions, a prominent UK-headquartered debt-collection business serving finance companies, including banks, utility firms, telecoms companies, and government bodies. The acquisition is subject to Financial Conduct…

Video game composer jailed for Covid loan fraud

21st July 2025 Business Lending |

A video game composer and sound designer who fraudulently applied for a Covid loan has been jailed. Peter Connelly, best known for his work on the Tomb Raider series, overstated his company’s turnover to obtain a second Bounce Back Loan of £37,500 in 2020 when businesses were only entitled to a single loan. Connelly had…

Business insolvency levels fell by almost 8.4% in June

21st July 2025 Business | #business insolvencies

Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales decreased by 8.4% to a total of 2,043 in June compared to May 2025’s total of 2,230, and decreased by 15.9% compared to June 2024’s figure of 2,430. The business insolvencies consisted of 332 compulsory liquidations,…

Personal insolvencies increase by 1.6%

21st July 2025 Arrears and Recoveries | #personal insolvencies

Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased by 1.6% in June 2025 to a total of 10,279 compared to May 2025’s total of 10,113, and slightly decreased by 0.7% compared to June 2024’s figure of 10,356. In June 2025, 10,279 individuals entered insolvency in England…

Construction insolvencies hit 12 month high

21st July 2025 Business | #construction

The construction industry experienced the highest number of insolvencies in the 12 months to May 2025 at 4,056, making up 17% of all industry cases according to latest data from the Insolvency Service. Overtrading risk looms for construction amid housing and infrastructure drive Commenting on the data, Kelly Boorman, National Head of Construction at RSM UK,…

Northern Irish business and personal insolvencies increase

21st July 2025 Business | #Northern Irish business and personal insolvencies

Latest monthly statistics from the Insolvency Service show that business and personal insolvencies increased in Northern Ireland in June 2025. The data showed that there were 25 business insolvencies registered, 47% higher than in June 2024. The insolvencies comprised of 14 compulsory liquidations, seven CVLs, three CVAs and one administration. There were no receivership appointments. Personal insolvency…

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