A new 5-day conference for the commercial credit sector has been launched by Credit Connect in partnership with Aon The Credit Solution Conference, a 5-day event will take place online between Monday 7th December and Friday 11th December. The event content will be hosted by Aon and the event will be facilitated by Credit Connect…

Shop closures have hit record levels with over twice as many net store closures in the first half of 2020 in comparison to last year, according to research by the Local Data Company and PwC UK.  The data shows that 11,120 chain operator outlets have closed this year so far, with 5,119 shops opening, creating…

The Insolvency Service has published its latest figures which indicate that in September 2020 Scottish company insolvencies decreased by 43% when compared to September 2019. Business insolvencies comprised of 12 compulsory liquidations, 22 CVLs and 9 administrations. There were no company voluntary arrangements or receivership appointments. Historically the volume of company insolvencies in Scotland have been…

In September the following administration notices have been issued and advertised in the London Gazette for the following companies: A&C UK GROUP LTD AQUASCUTUM (1851) LTD ARCHANT COMMUNITY MEDIA HOLDINGS LTD ARCHANT LTD ARGONAUT PROPERTY INVESTMENTS LTD ASSIMA UK LTD ATLAS 3T LTD AURUM GLOBE LTD BLACK AND BLACK RECRUITMENT LTD and other companies BOSSA…

The Government has launched a new consultation that aims to protect small businesses with action on late payments. The Consultation launched aims to give Small Business Commissioner more power to support businesses and resolve late payment issues. The proposed new powers include ordering businesses to pay in good time and issuing fines if they do…

The resumption of enforcement visits to collect overdue, pre-coronavirus debt to local authorities has been handled successfully one month on, according to evidence from CIVEA, the principal trade association representing over 95% of civil enforcement agencies in England and Wales. The vast majority of visits in the past month have been to enforce fines, traffic…

The Government is risking a substantial increase in company collapses by not extending a key insolvency measure, the Institute of Directors (IOD)has warned. In its Winter Economy Plan last week, the Government failed to renew the suspension of ‘wrongful trading’ rules for company directors. Under normal circumstances, directors have a strict duty to cease trading…

Over £100 billion in support from banks and the government has been received by UK firms through coronavirus stimulus initiatives, with lenders distributing more than £58 billion and companies claiming £39.3 billion under the furlough schem. Figures from HM Treasury published today reveal that UK lenders have supported over 1.33 million businesses across the country…

UK firms have racked up around £70 billion worth of unsustainable debt, according to a new report from The City UK, with more than £20 billion of that coming from government-backed coronavirus loan schemes. TheCityUK’s Recapitalisation Group (RCG), supported by EY, has published updated projections for levels of unsustainable debt faced by SMEs.  The report…

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