Credit, Collections & Insolvency News
A report from the Centre for Economics and Business Research (CEBR) think-tank and polling company Opinium shows that 591,000 businesses are at high risk of going bust as a result of the COVID-19 pandemic – a figure representing one in ten UK businesses. The study also suggests that more than a quarter of a million…
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In April the following administration notices have been issued and advertised in the London Gazette for the following companies: 16 HOSPITALITY LTD 16H LTD 16H TRADING LTD ADVANCED RESIN TECHNOLOGIES LTD ALEXCARS LTD ANGLESEY HOSPITALITY LTD ANGORA RETAIL LTD ANGORA STORES LTD B & G FINANCE LTD BARCLAY-SWANN LTD BASSET & GOLD PLC BASTYAN FASHIONS…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in April: 09 ONLINE DEALZ LTD 1CALLDRAINAGE LTD 2020 GROUP CONSTRUCTION LTD 22 PARK ROAD LTD 30SIX TRADER LTD 5 POINTZ LTD 50BEAS LTD 7 OAKS HOTEL LLP A & A ROOFING & BUILDING MAINTENANCE LTD…
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In April, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 08936190 LTD 24 INTERTRADE LTD A HERITAGE WINDOW CO. LTD AAC AIR CONDITIONING LTD AMFI LOGISTICS LTD AMMA CONVENIENCE STORE LTD ASHTON MAPLETREE LTD ASTRA RECRUITMENT SOLUTIONS LTD AUTOMART DIRECT LTD B S & N K…
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Profit warnings issued by UK-listed businesses reached a record-breaking high in the first three months of 2020 – higher than any previous quarter in the last twenty years with a significant increase in insolvencies predicted when the lockdown end according to EY’s latest Profit Warnings report. 301 profit warnings were recorded by EY between 1…
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Latest Insolvency Service figures have indicated that the construction remains the industry grouping with the highest number of insolvencies in the twelve months ending Q1 2020. The highest number of new underlying company insolvencies was in the construction industry with 3,077 insolvencies; followed by the wholesale and retail trade, repair of vehicles industrial grouping with…
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The Insolvency Service has published the latest company insolvency figure for England & Wales which indicates that the total numbers of company insolvencies in Q1 2020 decreased, when compared with the previous quarter and the same quarter in the previous year (Q1 2019). The figures largely pre-date the Government lockdown and wider impact of the…
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The latest figures from the Insolvency Service have shown that total insolvencies increased in Northern Ireland in Q1 2020. There were 83 company insolvencies in Northern Ireland in Q1 2020, this is 26% higher than the same quarter in 2019. Of these, 51 were compulsory liquidations and 20 were CVLs. There were also seven CVAs,…
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Latest figures from Accountant in Bankruptcy, Scotland’s Insolvency Service have indicated that company insolvencies decreased in Scotland in Q1 2020 There were 235 total insolvencies in Scotland, a fall of 14.5% from the same quarter of 2019. This comprised of 137 compulsory liquidations, 77 CVLs, 20 administrations, one company voluntary arrangement and no receiverships. The…
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A new industry report conducted by the Horticultural Trades Association (HTA) has revealed that the government’s current proposed aid package does not work for the horticultural industry and that a third of UK growers claim they will be insolvent by the end of June because of the impact of coronavirus. In response to the findings,…
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Retailers suffered a “historic” collapse in sales as the lockdown set in as even food retailers reported a slowdown, according to new CBI figures. The CBI’s monthly Distributive Trades Survey (conducted between 27th March 2020 and 15th April 2020) reveals that retailers expect a similar pace of decline in annual next month – the weakest…
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The Chancellor has just days to act to support struggling small businesses, to save the millions of jobs they represent, and to prevent many of the UK’s three million self-employed workers losing their livelihoods according to a new report by TaxAssist Accountants. The research shows that more than nine out of ten (93%) have significant…
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The number of judgments against businesses in Northern Ireland. fell 27 percent in the last quarter. Total and average values rose by 38 and 89 percent respectively. There fewer cases consisting of larger value. The total value of Northern Irish business judgments reached almost the £1 million mark this quarter. Businesses owed 24 percent of…
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