A new report from the Hospitality and Tourism APPG has highlighted the acute impact of the COVID-19 crisis on businesses in the UK’s coastal and lakeside communities. The Coasts and Waters report shows that the impact of the crisis has been more pronounced on coastal and lakeside regions due to their reliance on tourism, which generates 50%…

Sir Philip Green’s Arcadio retail group is on the brink of collapse with around 15,000 jobs at risk. The Arcadia Group, which runs the Topshop, Dorothy Perkins and Burton brands, is expected to appoint Deloitte as administrators within days. The group has more than 500 retail stores across the UK with the majority of these…

The winners of the 2020 Credit & Collection Technology Awards have been announced following a live interactive virtual awards broadcast yesterday (Thursday 19th November). The awards are the flagship event for innovational technological professionals working in credit and collections and the fourth annual event honoured the UK’s technological innovators, celebrating outstanding achievement across nineteen hotly…

Harley Kagan, currently Group Managing Director of United Trust Bank (UTB), is to become the Chief Executive Officer (CEO) of the bank from January 2021. The appointment comes as current CEO, Graham Davin, announced his intention to step down from the role he has held since leading a management buy-out of the Bank in 2004.…

Invoice finance provider and fintech firm Optimum Finance has appointed two regional Sales Directors across three UK regions alongside the promotion of Lynn-Marie Jameson to Commercial Director. Kelvin Thomas joins the business as Regional Sales Director for Wales and the West and Iain Hendry as regional Sales Director for the South East. Thomas and Hendry…

Over £1.1 billion of suspected fraud via the government’s bounce back loan scheme has been prevented by lenders so far, an indication of how criminals have aggressively targeted the scheme. Estimates from the British Business Bank provided to the Commons public accounts committee said lenders had rejected 26,933 bounce-back loans over concerns they could be…

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 11% in September 2020 compared with the same month in 2019.  In the nine months to September 2020, new business was 27% lower than in the same period in 2019. The…

The Covid-19 pandemic will cause firms to borrow over five times the amount in 2020 than in 2019, with many unlikely to start repaying until 2022 with total stock of bank lending to businesses forecast to close 2020 at £493bn, an 11% year on year increase, due to firms borrowing heavily through the pandemic. EY…

The Treasury has announced that applications for the Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme and Coronavirus Large Business Interruption Loan Scheme will now be open until the end of January. The extension, which carries support before the previous end point of 30th November, also applies to the Future Fund, an initiative…

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