Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in February: @SHANTERZ LTD 1 TRANSPORT SOLUTIONS LTD 126SKIN LTD 3000 PROPERTY SERVICES LTD 53035 LTD (FORMERLY PILLBOXCAPITAL 3 LTD) A & N ENIGMA ENGINEERING LTD A B PERFORMANCE LTD A PERFECT FLOOR (TW) LTD A.D.S…

Nearly 12,000 licensed premises have closed in the UK since December 2019, at an average of around 30 per day, the highest rate on record according to new research released by CGA and AlixPartners. The figures indicate the full toll of pandemic and lockdowns on hospitality. While 4,170 new sites have been recorded since December…

New HM Treasury figures have revealed that the banking and finance industry has approved another £2 billion of business loans over the past month, with the figure now rising to almost £73 billion to almost  1.6 million businesses so far through government-backed coronavirus lending schemes. Almost 29,500 Bounce Back Loans have been approved over the…

Cerberus Receivables Management (CRM) has announced that it has made three new appointments and significant investment in a new Salford HQ, IT infrastructure and brand identity and website. To accommodate business growth, CRM has moved into a new larger North West HQ. Significant investment has also been made in the installation of a new IT…

Latest statistics from the Insolvency Service have shown that business insolvencies in England & Wales decreased by 39.1% to 752 in January 2020 compared to December’s figure of 1,235, and were 50.4% lower than January 2020’s figure of 1,515. Overall, numbers of registered company insolvencies have remained low since the start of the first UK…

Scottish business insolvencies in January 2021 fell by 68% when compared with January 2020 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that there 23 company insolvencies this 68% lower than in January 2020. The insolvencies comprised of 12 compulsory liquidations and…

New research from Sage, has highlighted the impact of the Covid-19 pandemic with the average SME business now burdened with £173,000 additional debt per year. Ahead of the UK’s 2021 Budget and Economic Recovery Plan, the research highlights the tough conditions that will be facing small and medium-sized businesses (SMEs) well into the second half…

Research by Moody’s has found that the UK has the highest number of distressed companies in Europe. Across the continent, there were 113 companies with a B3 negative rating or lower in December, with the UK accounting for the highest proportion with 28 distressed companies. The number of distressed EMEA companies on Moody’s latest B3N…

The government has announced a new extension to breathing space measures that will be used to protect businesses from insolvency during the coronavirus (Covid-19) pandemic. The government announced it intends to extend the power (granted through the Corporate Governance and Insolvency Act) to make temporary amendments or modify the effects of corporate insolvency and governance…