Credit, Collections & Insolvency News
New research from insolvency firm, Begbies Traynor has revealed that nearly 43,000 retailers ended the period in a state of ‘Significant’ financial distress. According to Begbies Traynor’s Red Flag Alert research for Q1 2018, which monitors the financial health of UK companies, 42,958 retailers were experiencing ‘Significant’ financial distress at the end of March 2018, up 21%…
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The board of Hampshire Trust Bank plc have announces the appointment of Matthew Wyles as the Bank’s new Chief Executive Officer subject to regulatory approval. Wyles will join Hampshire Trust Bank with immediate effect as CEO (Designate). This follows the announcement late last year that Mark Sismey-Durrant, who has been CEO since 2012, had decided…
Read moreThe Financial Conduct Authority (FCA) has announced changes to the definition of income between consumer hire leases and consumer credit after a response to its consultation. In December of last year, the FCA made a call for leasing businesses to respond to the regulator. Under the current rule, FCA fees for regulated credit agreements such…
Read moreNew research* ‘Investor Sentiment: Alternative Credit’ from NN Investment Partners (NN IP) reveal increasing scarcity of high return assets followed by political risks are the two biggest issues concerning investors over the next two years. The investment manager says this will fuel growing demand for alternative credit, which delivers attractive returns that have low correlation…
Read moreOnline lender Spotcap today opened the Fintech Fellowship to applicants. The programme offers an £8k award to a postgraduate student studying a fintech related course at a UK university. Applications will be open for four months and close on the 1 August 2018. The fellowship launched last year to raise awareness of the fintech talent…
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Just 11% of the £416 billion in the total stock of loans to businesses are now being provided on a fixed rate – dropping by a third from 18% two years ago – leaving businesses with huge exposure to rising interest rates, says Hadrian’s Wall Capital, the London-based specialist debt adviser. The drop came as…
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Zopa has announced a governance restructure in advance of launching its next-generation bank. The re-structure will establish separate boards for the Zopa P2P business, proposed bank (subject to banking licence approval) and Group in order to facilitate the increasing scale of the business, ensure good corporate governance and protect the interests of its customers. The…
Read moreThinCats, the alternative funding specialist, has announced a senior hire to cover the North West region. Richard Lamb joins ThinCats to lead new business origination throughout the North West, after nearly a decade as Relationship Director at NatWest, and having been in corporate banking since 1992. He joins the company’s growing team of experienced bankers who…
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A new report by Aldermore titled Future Attitudes has revealed that just under a quarter (23%) of SMEs, representing 1.27million small and medium-sized businesses across the UK, are missing out on new business opportunities due to a lack of available funding a 4% increase on the previous year. The report, which surveyed over a thousand business…
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Shire Leasing has announced structural changes to their leadership team. Mark Picken is to move to CEO with Helen Lumb taking the CFO role and Malcolm Workman to be COO. This new structure will see the various business disciplines report through Lumb and Workman and provide a broader management spread and greater focus on the…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million fell in February by 1%, compared with the same month last year. The plant and machinery finance and IT equipment finance sectors reported new business growth in…
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New annual figures, published by UK Finance – for the first time since it took over most of the activities of the Asset Based Finance Association – show a steady increase in invoice finance and asset-based lending in 2017. UK Finance members provided IFABL to 42,000 businesses at the end of 2017, worth a total…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million grew by 4% in January, compared with the same month last year. Including high-value deals, new business increased by 3% over the same period. The plant and…
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