Businesses must take measures to protect themselves from the impact of unpaid bills as global insolvency rates are forecast to surge according to trade credit insurer Atradius. The company’s Insolvency Forecast reveals the likely extent of business failures in the wake of the coronavirus pandemic. Entitled ‘2021: A turn of the tide in insolvencies’, the…

Latest statistics from the Insolvency Service have shown that personal and business insolvencies continue to remain low in comparison to previous years. In February 2021 there were 144 individual personal insolvencies in Northern Ireland, 46% lower than February 2020; this consisted of 107 IVAs, 27 DROs and 10 bankruptcies. Business insolvency figures In February 2021…

The Ministry of Housing, Communities and Local Government (MHCLG) has announced that it is suspending bailiff-led rental evictions until 31st May. The temporary law requiring landlords to give tenants 6 months’ notice before they can evict has also been extended for the same period. The ban on commercial evictions has also been extended to 30th June.…

Record levels of smaller businesses sought external financial support in 2020, with further significant demand expected in 2021, British Business Bank research has found. The report highlights a surge in applications for external financial support, including government and local grants, among small and medium sized businesses (SMEs), with almost half (45%) of all SMEs surveyed…

Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in February: @SHANTERZ LTD 1 TRANSPORT SOLUTIONS LTD 126SKIN LTD 3000 PROPERTY SERVICES LTD 53035 LTD (FORMERLY PILLBOXCAPITAL 3 LTD) A & N ENIGMA ENGINEERING LTD A B PERFORMANCE LTD A PERFECT FLOOR (TW) LTD A.D.S…

Nearly 12,000 licensed premises have closed in the UK since December 2019, at an average of around 30 per day, the highest rate on record according to new research released by CGA and AlixPartners. The figures indicate the full toll of pandemic and lockdowns on hospitality. While 4,170 new sites have been recorded since December…

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…

Latest figures from the Business Distress Index by Real Business Rescue have revealed the number of SMEs in significant distress now stands at 620,000 an increase of 76,000 in Q4 2020, putting 2.8 million jobs under threat. The Index has discovered that since lockdown, 118,000 more SMEs have been plunged into distress,  a 23% increase…

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