Business rescue specialist, Leonard Curtis has made an addition to its Scottish team with the appointment of James Dempster. A qualified accountant, s joins Leonard Curtis as a Senior Manager within the Group’s Business Rescue and Recovery division. He joins the professional services group following a sixteen-year tenure at one of Glasgow’s big-four accountancy firms.…

DJS (UK) trading as PiggyBank has entered administration. The company provided high-cost short term (payday) lending services to the UK consumer market. The company is thought to have had around 45,000 customers and was seen as one of the UK’s top 10 largest payday lenders. Shane Biddlecombe and Gordon Johnston of HJS have been appointed…

R3, the insolvency and restructuring trade body, has launched its 2019 election manifesto, which sets out the policies that will help the insolvency and restructuring profession continue to support businesses and individuals going through financial distress. These include: The abolition of plans to make HMRC a priority creditor in insolvencies The introduction of the proposed…

Citizens Advice has responded to new Ofgem data on unpaid energy industry bills left behind by failed suppliers. Alongside this, the charity has released new analysis showing consumers are now facing a £255 million bill following the collapse of these firms, which will be paid through higher energy bills of their own. The new analysis…

The  Commercial Credit & Collections conference has confirmed its speaker agenda for the next event which takes place in January. CVR Global and Aon’s Commercial Credit & Collections conference agenda now includes speakers from Onguard and Cifas whilst three Credit Managers will debate the impact of technology on credit management. The event will open with…

Mounting concerns such as late payments (54 per cent), cyber-attacks (27 per cent) and tax rates (44 per cent) have left the UK’s entrepreneurs fearing for the future. Other challenges include the cost of staff recruitment (19 per cent), maintaining or increasing levels of productivity (31 per cent) and uncertainty over Brexit (44 per cent).…

Nearly half of small business owners and managing directors (47 per cent) had to stop their own pay due to the impact of unfair payment practices by their buyers, according to new survey findings from engineering services trade bodies ECA and BESA. Overall, three-quarters of business owners said they had made sacrifices, including reducing their…

The Financial Conduct Authority (FCA) has confirmed that Active Securities trading as 247 Moneybox, have been placed into administration. Active Securities a high-cost short term lender (payday lender). In a statement that appears on the website, the company said that all existing loan agreements remain in place and will not be affected by the proposed…

The UK’s SME late payment debt has risen to a staggering £23.4 billion, up £10.4 billion on the £13 billion owed in 2018 – according to figures released by Pay.UK, which runs the Bacs Direct Credit and Direct Debit payment services. On top of that, the research shows that UK SMEs are now facing a…

Research from Xero and PayPal, has revealed that 37% of small businesses owners have considered closing their company because of cash flow issues caused by late payments. The findings highlight the scale of the late payments challenge facing British small businesses, who are owed an average of £23,360 in overdue invoices on any one day…

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