Heightened restructuring activity has seen the half-year net reduction in stores on Britain’s high streets hit record levels according to research by the Local Data Company (LDC) and PwC. The first half of 2019 saw almost twice as many store closures (16 per day) as openings (9 per day). In total, 1,634 stores opened and…

The use of bailiffs to collect debts owed to local authorities in England and Wales has risen by 7 percent in two years, driven by a surge in the use of bailiffs to collect parking debts, according to new research by the Money Advice Trust, the charity that runs National Debtline and Business Debtline. More than 2.6 million…

Almost a third of SMEs (31%) have experienced late payments costing their business at least £10,000 in the last 12 months, according to research by Hitachi Capital. The report says the impact of late payments on the long-term health of the UK economy is estimated to have cost UK SMEs at least £51.5 billion in…

The Chartered Institute of Credit Management (CICM) new rules for the Prompt Payment Code (PPC) have now come into effect. The new rules mean that companies could be blocked from bidding for government contracts worth over £5m if they fail to pay 95% of their invoices within 60 days. Reacting to the start of the…

New research from Lloyds Bank Commercial Banking has revealed that a third of UK businesses who were paid late in the last year did not chase outstanding payments. Fear of damaging valuable customer relationships was the biggest rationale by some margin, cited by two thirds, 62 per cent, of businesses. This was followed by capacity…

Bupa Insurance Services poor payment practices have been exposed in a new report by The Office of the Small Business Commissioner. The reports names Bupa for failing to pay adequate compensation to a small business in a case of late payment of invoices, following an investigation into a complaint. The small business commissioner found that…

Wilkin Chapman Solicitors has completed the take-over of Silke and Co., a Doncaster-based business solutions company. In acquiring Silke & Co., Wilkin Chapman solicitors will be expanding its work in the area of recoveries – a team headed up by Partner Chris Grocock. The new Doncaster branch will be known as Wilkin Chapman Business Solutions…

In July, the following administration notices have been issued and advertised in the London Gazette for the following companies: 39-45 GRANSDEN AVENUE LTD ALBION BLADES LTD AMG CHATHAM LTD ASPIN GROUP LTD ATLANTIC CARBON GROUP PLC BATHSTORE.COM LTD BAYLIS AUTOMOTIVE (SMETHWICK) LTD BILLY FOUNDER LTD BOURTON SPA LTD BROADREACH HOUSE BUXTON POWER LTD C.G.P.M. LTD…

Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 06718888 LTD 1-2-1 CLAIMS LTD 120 HOLLAND ROAD LTD 123 AP LTD 17 CLARGES STREET RTM COMPANY LTD 3 AD 3 LTD 30 JAMES STREET LTD 360 BUSINESS PARTNERS LLP 4 WESTERN ROAD (POOLE) LTD A & S…

Three directors who dishonestly secured credit by causing their companies to submit false invoices to factoring companies have been banned for a total of 29 years. Deborah Fisher of Spalding, Lincolnshire was the director of NJ Transport Limited, a haulier based in Weston Hills. Over two years between January 2016 and March 2018 she caused…

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