The number of failures within the UK’s construction sector increased by 73.3% in Q1 2018 according to new figures from Creditsafe. The quarter kicked off with unexpected collapse of Carillion, which left thousands of suppliers unpaid and countless employees without work. The impact was clearly felt in the construction industry as four of the top…

Debt owed to UK businesses across eleven core business sectors was £580m higher in the last three months than in Q4, 2017 according to latest figures from a Creditsafe. After falling to a 12-month low in Q4 2017 with £157.9m being filed, bad debt (debt owed to businesses) filed in the first quarter of 2018 reached…

Sixteen shops are closing on the high street every day. The rate has doubled in a year, with the retailers blaming a perfect storm of rising prices, online competition and a slump in consumer confidence according to research by PwC. New figures compiled by PWC and Local Data Company, a retail analytics company, have shown…

The Credit Services Association (CSA), has announced the first of the major sponsors for the 2018 UK Credit and Collections Conference (UKCCC), which this year moves to Crowne Plaza, Stratford Upon Avon. Conexus Recovery and Field Services, which has clients across the banking, utilities, retail and debt purchasing sectors, is returning as a sponsor and…

The government has announced tough new measures to level the playing field for smaller businesses bidding to win government contracts. Cabinet Office Minister Oliver Dowden has announced proposals to exclude suppliers from major government procurements if they cannot demonstrate fair and effective payment practices with their subcontractors. Other plans include allowing subcontractors to have greater access…

Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09247906 LTD 10294997 LTD 123 RENTALS LTD 360 LOCATIONS LTD 4 PROPERTIES LTD A. GULEC CONTRACTORS LTD A.P.L.E. (OXFORD) LTD A&O CONSULTANCY LTD ABBA NORTH EAST LTD ACA A LTD ACCESSORY TRADING LTD ACCIDENT LAWYERS LTD ACCRUED EQUITIES…

Half of businesses have faced issues with late payments in the last year, a new survey of 787 company directors reveals. The poll by the Institute of Directors shows that 3 in 10 business leaders see ‘excessively bureaucratic payments system’ as the main reason for late payment and just over a fifth said it was…

The Government has announced plans to improve the UK’s corporate governance framework to ensure the UK remains one of the best places to start and grow a business. The rules include: Directors selling companies recklessly to face tough new sanctions including fines and disqualification Creditors could have money returned to them by reversing inappropriate asset stripping…

The Minister for Small Business says the collapse of Carillion must act as a catalyst to supporting small businesses, and prompt payment is a central part of the solution. Interviewed exclusively for ‘Credit Champions’, a news and current affairs-style programme created by The Chartered Institute of Credit Management (CICM) and ITN Productions, Andrew Griffiths MP…

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