Credit, Collections & Insolvency News
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in June. 1ST CALL LETTINGS LTD 1ST CALL RECRUITMENT LTD 3TR LTD A HERITAGE WINDOW CO. LTD A-Z STATIONERS LTD A1 AUTOGLAZE NATIONWIDE LTD A1 HIGHFIELDS ASSOCIATES LTD AARKHAUS LTD AARON & STEPHEN CO LTD ABBEY…
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In June, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 3XP SOLUTIONS LTD ABSOLUTE CONSTRUCTION (NORFOLK) LTD ACE DEVELOPMENT SOLUTIONS LTD ACTIVE MANAGEMENT FACILITIES LTD ALLIANCE PREMIER LTD ANCHOR HOUSE CONSTRUCTION (R.G.) LTD APS PLUMBING AND HEATING SERVICES LTD ASTON DARBY GROUP LTD B N DIRECT…
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Championship football club Wigan Athletic have entered administration. Wigan becomes the first club in professional English football to enter administration following the coronavirus pandemic. This comes just four weeks after Hong Kong-based consortium Next Leader Fund took over the Championship club, promising to secure its future. Paul Stanley, Gerald Krasner and Dean Watson from Begbies…
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The Covid-19 pandemic crisis is forcing British businesses to accept unfavourable payment terms, according to a white paper published by credit management group Intrum. The survey found that 80 per cent of the UK’s businesses have accepted longer payment terms than they are comfortable with as they do not want to damage client relationships. This…
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Overall business confidence improved by three percentage points in June, the first increase recorded since January, according to the Lloyds Bank Commercial Banking Business Barometer. Despite still sitting in negative sentiment, the increase is the highest level seen since the start of the pandemic in March, however, confidence remains well below levels seen before the…
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Sidetrade has today launched a new feature called CashTarget, which uses gamification for businesses who are restarting treasury performance. As businesses emerge from pandemic lockdown, the dash for cash will intensify. With revenue proving unpredictable and loans running out, the focus needs to turn to accounts receivable – for invoices that remain unpaid. Sidetrade says…
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The Federation of Small Business (FSB) is calling on policymakers and big corporations to bring a debilitating late payment crisis to an end as the business community looks to emerge from the current recession. The research indicates that the majority of small businesses (62%) have been subject to late or frozen payments in the wake…
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Just has entered into an exclusive agreement with Validis to retrieve data from accounting platforms when enforcing against businesses. Validis allows small and medium enterprises (SMEs) to share their full financial data history in a standardised format. The software securely retrieves data directly from popular accounting software packages and layers analytics to categorise and distill data.…
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UK businesses are returning to work this month with some trepidation, according to fintech business lender MarketFinance. The company’s latest research indicates that nine in ten businesses are waiting to be paid an average of £148,917 for work done pre-lockdown. With reportedly half of the companies that applied for CBILS loans being declined and cash…
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Nearly half of small businesses have had to raid their savings to stay afloat during the coronavirus pandemic.The analysis by Redwood Bank estimates as much as £22.4 billion has been withdrawn from corporate deposit savings accounts to pay bills. A survey carried out by Redwood Bank in May has shown that 48 per cent of…
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The government has announced that it will extend measures to prevent high street businesses facing eviction over summer. The extension, until the end of September, comes alongside further support to help local businesses plan for economic recovery following the coronavirus pandemic. A new code of practice has been developed with leaders from the retail, hospitality and property…
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Sue Chapple has succeeded Philip King as Chief Executive of the Chartered Institute of Credit Management, the world’s largest professional credit management organisation. Chapple who joined the CICM as Director of Strategic Relationships in 2018, has been interim CEO since King’s departure to become interim Small Business Commissioner in March. In confirming Chapple in the…
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More SMEs are changing their credit terms with their suppliers due to Covid-19, finds the latest results from the ACCA UK and The Corporate Finance Network (The CFN) SME Health Tracker. The survey of accountants, representing nearly 19,000 SME clients, also shows that the current business environment of opening up is slowly easing the intense…
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