Credit, Collections & Insolvency News
Exports of goods in the Czech Republic have surpassed pre-pandemic levels, however, rises in insolvencies are expected according to tothe latest trading insight report by Atradius. The trade credit insurer’s new Czech Republic Country Report reveals total exports are forecast to rise 10.5% in 2021 following a marked decline of around 7% last year. Atradius…
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Latest figures from the Insolvency Service have indicated that business insolvencies increased by 22.9% to 1,348 in August 2021 compared to July’s figure of 1,097, and increased by 71.1% compared to August 2020’s figure of 788. In August 2021 there were 1,256 Creditors’ Voluntary Liquidations (CVLs), which is the highest level seen in the series…
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New research suggests that a single late payment doesn’t just affect the business immediately involved, but triggers a domino effect that tumbles down the entire payment flow. A survey of 500 UK business decision makers from GoCardless, found that that 86% agree that one late payment affects everyone in the supply chain. Indeed, out of the…
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The Insolvency Service has announced that temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1st October. Companies in financial distress as a result of the pandemic have been protected from creditor action since June last year, through the Corporate Insolvency and Governance Act 2020. This was…
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Research by Mazars has revealed that banks have written off £99 million in loans to restaurants and hotels in the past year, up from £60 million a year earlier. The research indicates that Banks are increasingly writing unpaid loan repayments off as bad debts with a 65 per cent increase in write-offs of loans to…
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Travel company Tui, drinks conglomerate Diageo and engine maker Rolls-Royce are among the slowest FTSE 350 listed groups to pay their suppliers, according to new research. A report by Good Business Pays campaign has named and shamed the top 10 slowest payers in the FTSE 100 and FTSE 250 indices, using the latest information submitted…
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In August the following administration notices have been issued and advertised in the London Gazette for the following companies: 00510285 REALISATIONS LTD (FORMERLY GISSING & LONSDALE LTD) A.M. FABRICATION (NORTHERN) LTD ABG COURIERS LTD ALL FOUNDATIONS (UK) LTD ALL-COUNTIES SUPPLIES LTD ARTHUR M.GRIFFITHS & SON LTD ASA CRUSHING & SCREENING LTD BERWICK STREET SECURITIES LLP…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in August: 10 FLORA LDN LTD 100 CLIFTON PLC 100 WASP LDN LTD 110 HERO HELIPAD LDN LTD 189 SCHOOLHOUSE LDN LTD 1ST ELECTRICAL & FIRE LTD 3HREE 65 SERVICES LTD 8FX LTD A & C…
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In August, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: APPLIANCE GROUP LTD ASSOCIATED STONE GROUP LTD BARDA QUCH LTD BDC AGGREGATES LTD BELIZE LTD BENCHMARK DEMOLITION LTD BILLION LENNY EVENTS LTD BLACK DIAMOND BARS LTD BLUE GERANIUM FLORIST LTD D&B KW DEVELOPMENTS LTD EMC ENGINEERING…
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The finalists for the fifth annual Credit & Collections Technology Awards, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect Media will host the Awards ceremony as a face to face event at the Midland Hotel, Manchester on Thursday 4th November. This year’s…
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A detailed analysis of how the UK’s small businesses were impacted by Covid-19 and other economic challenges in 2020 has been published in a joint study by leading payments authority, Pay.UK, and Europe’s largest credit management membership body, the Chartered Institute of Credit Management (CICM). The research, which set out to track how many organisations…
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Latest monthly figures from the Insolvency Service have indicated that business insolvency numbers across England & Wales fell by 9.3% to 1,094 in July 2021 compared to June’s figure of 1,206, and increased by 13.4% compared to July 2020’s figure of 741. Of the 1,094 registered company insolvencies in July 2021 there were 1,007 CVLs,…
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Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 36% in July 2021. The figures show that there were 72 company insolvencies registered in Scotland, this was 36% higher than in July 2020 but 26% lower than in July 2019. The business insolvencies comprised of 14 compulsory liquidations,…
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