Credit, Collections & Insolvency News
Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 46% in May 2021. The figures show that there were 51 business insolvencies registered in Scotland, this was 46% higher than in May 2020 but 35% lower than in May 2019. This was comprised of eight compulsory liquidations, 37…
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Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies numbers increased in May. In May 2021 there were seven business insolvencies registered in Northern Ireland, 40% higher than in May 2020 but 83% lower than May 2019. This comprised of one compulsory liquidation and six CVLs.. There were no…
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The pandemic has motivated the UK’s businesses to crack down on late payment, according to the latest European Payment Report from Intrum. More than 11,000 firms across 29 European countries participated in the research. Tomorrow (Thursday 17th June), Intrum’s UK client and sales director Ian Davies will take part in a panel discussion on the…
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New research figures from Mazars show that almost 40,000 businesses were struck off the Companies House register in the first three months of the year, a rise of 743% on Q1 2020. Strike-offs from Companies House increased to 39,601 in the first three months of 2021 compared to just 4,695 in the same period in…
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As many businesses face the financial impact of four more weeks before pandemic restrictions lift, small business owners who have become personal guarantors for CBILS loans over £250,000 are being warned that lenders will come to them first, if they default on the loan – not the Government. By 21st June 2020, 50,482 loans had…
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Nearly a quarter (24%) of employees admit they made a bad decision about debt during the pandemic, according to a new study from Aviva which has examined experiences of personal, workplace and financial wellbeing since early 2020. The figure rise to more than half (51%) of those aged 18-to-24, dubbed ‘Gen-Z’. Amid the turmoil of…
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The Online Commercial Credit & Collections Conference has confirmed its agenda and speaker line-up ahead of the event next Thursday (22nd April). The event has been transformed from the annual face to face event which took place in 2019 and 2020 to an online event this year. The Commercial Credit & Collections Conference has been…
Read moreA survey of small businesses by Mazuma Accountants has found that 39% believed they would struggle to meet repayments of the Government’s Bounce Back Loan Scheme when they start this month. With repayments of the Government’s Bounce Back Loan Scheme (BBLS) scheduled to start this month, the poll found that almost 40 per cent of…
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Retail and hospitality leaders have urged the Government to tackle the £5 billion of rent debt owed to landlords ‘as a matter of urgency’ warning of widespread business failures without some form of resolution. Giving evidence to the House of Commons Treasury Committee UKHospitality CEO, Kate Nicholls has highlighted the need for further Government support…
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Nearly 1,200 businesses have closed every day in the past six months according to new research by DSA Connect. The company’s analysis of Government data shows 214,930 companies shut down in the six months to 31st March. The last three months of 2020 saw 103,785 firms go out of business and the number closing rose…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 80% in April 2021 compared with the same month in 2020. In the first four months of 2021, new business was 15% higher than in the same period in 2020. The…
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In May the following administration notices have been issued and advertised in the London Gazette for the following companies: 51AEGON LTD AFIN TECHNOLOGIES LTD AW RETAIL LTD BSC HOLDINGS LTD COLLINS BUILDING SOLUTIONS LTD COMMERCIAL STREET HOTEL LTD CONNECT RECYCLING LTD CONSTRUCTION AND MANAGEMENT TRAINING LTD DAPATCHI PROPERTY CONCEPTS LTD DEVCO 2017 LTD ESSEX COUNTY…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in May: 100% INSPECTION LTD 4ZERO LTD A BLAIR LTD A NINETEEN PUB COMPANY LTD A.L.P.H.A. HOME IMPROVEMENTS PS LTD ABBEY MECHANICAL & ELECTRICAL SERVICES LTD ABSOLUTELY FLOORSOME LTD AC CASTLE STREET LTD ACCUMULATION LTD ACE…
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