Peer to Peer lender, The House Crowd has entered administration. On 24th February, the Directors of The House Crowd, a regulated Peer-to Peer firm, placed the company into administration and appointed Frank Ofonagoro, Jeremy Woodside and Frank Wessely of Quantuma Advisory as joint administrators. The House Crowd, formed in 2012, operated a Peer to Peer…

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…

With the current furlough scheme expected to come to an end on 30th April more than seven in 10 (71%) SME leaders are calling for it to be according to research from Nucleus Commercial Finance. The research has found that larger businesses, those with between 50 and 249 employees are feeling the pressure the most,…

As the UK’s third national lockdown continues, just 8% of business leaders feel supported, research from Nucleus Commercial Finance today reveals.1 Half (50%) feel worried or depressed about the current lockdown and nearly four in 10 (38%) feel anxious about the current lockdown. More than half of SME leaders (54%) say their feelings towards the…

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 Barclaycard’s Payment Barometer has revealed that SMEs are displayed cautious optimism with 8.1 per cent expecting to see business growth in 2021. Ahead of the Government’s roadmap next week, small and medium enterprises (SMEs) are getting ready for post-pandemic life, with three in 10 (32 per cent) saying they are prepared for…

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…

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