Credit, Collections & Insolvency News
In December the following administration notices have been issued and advertised in the London Gazette for the following companies: 100 CLERKENWELL ROAD LTD 254 KILBURN HR LLP AFAN VALLEY LTD ATLANTIC BAY HOTEL (WOOLACOMBE) LTD AG SAFEBOOTHS UK LTD ALLANDER PRINT LTD ALPINE ELEMENTS LTD ALVIS HOUSE LTD ANIMA VINCI LTD ARCADIA GROUP LTD ARCHANT…
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In December, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ACCOUNTANCY SERVICES HR 2 LTD ACCOUNTANCY SERVICES HR 3 LTD ACCOUNTANCY SERVICES HR 4 LTD ADVANCED OPTICAL LTD AG SAFEBOOTHS UK LTD AMS & SONS GROUND ENGINEERING LTD ANVILLE LTD ATLANTIC DWELLINGS HR LTD AXE CORPORATE…
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Credit Connect Media has confirmed the date for its second Collections Technology Think Tank which will take place on Thursday 18th March. The event will focus on technological and innovational developments and strategies within collections. The Think Tank is a multi-session event that includes a diverse range of speakers and is set up so that…
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Credit Connect has published its second annual Credit & Collections Technology company power list for 2020. The power listed is a round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements and successes of the top-performing companies. The…
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In the run-up to Christmas, new data from leading insolvency firm, Begbies Traynor, has revealed the full impact of the Covid-19 crisis and tough trading conditions, which shows that 39,232 retailers, including both online and bricks and mortar stores, are now in significant financial distress. This figure from Q4 2020 (1st October – 9th December)…
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Accountants have been increasingly successful in persuading SMEs to re-forecast their financial performance in the second half of 2020, according to the year-end results of the ACCA and The Corporate Finance Network (The CFN) SME Recovery Tracker. As the year draws to a close, the tracker results have shown consistently high levels of stress and…
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Shawbrook Bank, a specialist lender to UK SMEs, has announced that it has completed an acquisition of RateSetter’s peer-to-peer funded development finance business with facilities totalling £167 million. The addition of the RateSetter business including the associated loan portfolio will add more than 100 new active clients to Shawbrook’s existing Development Finance customer base. The…
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Office for National Statistics (ONS) survey data has indicated that over one in four (27.9%) of UK pub and bar operators have fears that their business would fail even before the latest coronavirus lockdown restrictions were announced. Meanwhile, less than one in five (19.1%) of responding pub and bar businesses had high confidence in surviving…
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New figures published by HM Treasury has shown that over 1.5 million businesses across the country are supported by the UK’s banking and finance industry with a total of over £68 billion in lending through government-backed coronavirus lending schemes. Over 34,500 small and micro businesses have accessed a Bounce Back Loan over the past month,…
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New figures from the Insolvency Service have shown that business insolvencies in England and Wales increased by 4% in November 2020, with 889 business insolvencies in November 2020 compared to October’s figure of 862, and were 41% lower than November 2019’s figure of 1,512. However, business insolvencies in November 2020 fell by 41% compared with…
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Scottish business insolvencies in November 2020 fell by almost half compared with November 2019 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that in November 2020 there were 46 company insolvencies in Scotland, a reduction of 47% in comparison to November 2019.…
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Northern Irish personal insolvencies decreased by two thirds according to the latest Insolvency Service figures. Personal insolvencies numbers in November 2020 fell by two-thirds compared with November 2019. There were 91 personal insolvencies down 68% from November 2019; this consisted of 52 IVAs, 17 DROs and 22 bankruptcies. Company insolvencies in November 2020 fell by…
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New research produced by the Open Banking Implementation Entity (OBIE), together with Ipsos MORI shows that since the start of the pandemic, the UK’s small business community is increasingly utilising the services offered by open banking providers as they look to future-proof their business operations (50% of those surveyed). Improved resilience: Of those who had leveraged…
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