Credit, Collections & Insolvency News
61% of consumers are worried that the high street as we know it is at risk of disappearing, with store closures permanently changing the retail landscape, according to research by KIS Finance. The company says that with the news of the collapse of the Arcadia Group, Debenhams and Bonmarche hitting the headlines, the future of…
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The Government has announced that it intends to reinstate the temporary suspension of the use of statutory demands and winding-up petitions, extending the measures until 31st March 2021. On 25th November the government announced it intends to reinstate the temporary removal of the threat of personal liability for wrongful trading from directors until 30th April…
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A new paper jointly authored by risk consultancy business Wiserfunding and invoice insurance business Nimbla has claimsed that ‘unsustainable debt’ is accelerating the growth of a credit bubble. The company’s warn that the Government’s current economic strategy will exacerbate the problem, and call for alternative measures to aid the UK’s recovery. While SMEs’…
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New figures from the Labour Party have revealed that many of the small businesses which re-opened last week may not make it to Spring. New analysis of official data reveals an estimated 390,000 small businesses are worried they won’t survive the next three months. More than 520,000 small businesses have seen turnover plummet by more…
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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) fell by 14% in October 2020 compared with the same month in 2019. In the ten months to October 2020, new business was 26% lower than in the same period in 2019. The…
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Shopping with small and local businesses has never been more important with almost one-third (31%) of the UK’s SMEs relying on the Christmas period to help them survive, according to new research released by Nucleus Commercial Finance. The research found that one in five (20%) SMEs are anticipating a challenging Christmas trading period – comprising…
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In November the following administration notices have been issued and advertised in the London Gazette for the following companies: A SKIPS & WASTE LTD A.C.K. MATERIALS HANDLING LTD A2B PLASTICS LTD AIRPORT PARKING RENTALS (GATWICK) LTD AIRPUSH INC AJS PROPERTIES 2018 LTD APB INVESTMENTS (EAST YORKSHIRE) LTD APS-SELECT LTD AUTOMOTIVE BEARINGS LTD BALL. ROLLER &…
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In November, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ARLEX ONLINE LTD ASHDAN GLASS STRUCTURES LTD BALMORAL FUNERAL DIRECTORS LTD BC SYSTEM ENGRAVING LTD BEMUS CONSTRUCTION SERVICES LTD BLACK ROOSTER PERI PERI CATHCART LTD BLACK ROOSTER PERI PERI GOVAN LTD BLACK ROOSTER PERI PERI LTD…
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The Credit Solutions Conference partnership between Credit Connect and Aon has confirmed its final line-up for the inaugural conference which opened on Monday (7th December) The on-demand 5-day c Credit Solutions Conference aims to help attendees build towards making 2021 a much stronger and more resilient year with the gap to viewing the content closing…
Read moreLaw firm JMW Solicitors has warned of a flood of insolvencies in Spring 2021 which risks paralysing the Courts. The firm’s analysis shows that corporate insolvencies adown circa 42% year-on-year in October 2020; whils Creditor Voluntary Liquidations, are down 36%, there is a decrease of 76% for Compulsory Liquidations and a decrease of 35% for…
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Department store chain Debenhams is to be wound down after Christmas, with the loss of up to 12,000 jobs and closure of 124 stores. The first branch closures are expected in the new year, with all expected to close down by the end of March. Debenhams has been trying to find a buyer but its…
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A new report from the Hospitality and Tourism APPG has highlighted the acute impact of the COVID-19 crisis on businesses in the UK’s coastal and lakeside communities. The Coasts and Waters report shows that the impact of the crisis has been more pronounced on coastal and lakeside regions due to their reliance on tourism, which generates 50%…
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Following a concentrated period of uncertainty, new research from Hitachi Capital Business Finance found a significant proportion of small businesses are considering finance to enact their plans for 2021, as confidence gradually returns. Looking ahead to 2021, just over half (56%) of small business owners said they were considering taking finance for some of the…
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