Credit, Collections & Insolvency News
Outsourced receivables management services specialist Barratt Smith Brown has appointed Ian Deacon as its new Director of Utilities Collections. Deacon joins from British Gas where he was Head of UKB Debt Strategy and Analytics. Deacon brings a wealth of industry experience with a career that includes 18 years within British Gas business-to-business operations and finance.…
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The Insolvency Service has published its latest figures which indicates personal insolvencies in England & Wales corporate business insolvencies fell by 9% to 686 in February 2021 compared to January’s figure of 754, and were 49% lower than February 2020’s figure of 1,348. The number of registered company insolvencies in February 2021 was 49% lower…
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Latest figures released by the Accountant in Bankruptcy (AIB) have shown that Scottish business insolvencies continued to remain low in February 2021 In February there were 26 company insolvencies registered in Scotland, 70% lower than in February 2020. The figures comprised of 7 compulsory liquidations, 16 CVLs, two administrations, and one CVA. There were no…
Read moreLatest 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…
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New data has indicated that nearly 135,000 companies were showing strain this month, roughly three times the pre-pandemic average according to new analysis by Mazars. Businesses in the services and retail sectors accounted for almost three-fifths of those showing distress, with sectors that are allowed to reopen faring better, with construction and manufacturing businesses making…
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The Government has announced the appointment of Liz Barclay as Small Business Commissioner to spearhead the national effort to crackdown on delayed invoices, which cause thousands of small businesses to close every year. Barclay will be the first female Small Business Commissioner, a post which was created in 2016 to help small businesses secure the…
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UK small business owners are feeling the dual impact of Brexit and a global pandemic which resulted in a challenging 2020 and an uncertain outlook for 2021 according to research commissioned by Dun & Bradstreet that found that half of SMEs (51%) surveyed believe they will suffer the effects of Covid-19 more acutely in 2021.…
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Almost 10,000 chain stores disappeared from UK retail locations in 2020. In total, 7,655 shops opened, compared to 17,532 closures, a net decline of 9,877, according to PwC research compiled by the Local Data Company (LDC). Although a decline was to be expected in a pandemic this is the worst ever seen with an average…
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Begbies Traynor has agreed to buy insolvency practice David Rubin & Partners, in a deal worth up to £25 million. The company has announced that it has raised £22 million through equity fundraising to help pay for its acquisition of London and Guernsey-based David Rubin & Partners. David Rubin & Partners has a team of…
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The global economy is forecast to recover almost fully from the pandemic-driven recession but there are major divergences in the pace of recovery across the world, according to a new report from trade credit insurer Atradius. The report reveals the emergence of several bright spots in the global economy as the world battles to overcome…
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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…
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In February the following administration notices have been issued and advertised in the London Gazette for the following companies: 07567003 LTD ASPIRE 4 TECHNOLOGY GROUP LTD BABBAGE CONSTRUCTION LTD BE LOGICAL UK LTD BEEGOOD ENTERPRISES LTD BIOTECHNICA SERVICES LTD BIRMINGHAM APEX HOUSE CENTRE LTD BOTTLING INTERNATIONAL LTD BOXCOM NETWORK SERVICES LTD BRAND HOUSE HOLDING LTD…
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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…
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