Credit, Collections & Insolvency News
County Court Judgments (CCJs) against businesses England and Wales fell six percent in Q1 (January-March) 2020, compared to the same quarter in 2019, according to figures released by Registry Trust. The number of CCJs against businesses decreased from 35,781 in Q1 2019 to 33,520 in Q1 2020. The total value of judgments saw an increase…
Read more
Ahead of the second reading of the Finance Bill on today (27th) April, Duncan Swift, President of insolvency and restructuring trade body R3, has called on the Government to scrap proposals to make HMRC a preferential creditor in insolvencies. R3 says that there has been widespread concern that the proposals will have a significant negative…
Read more
The number of decrees against Scottish businesses rose by 29 percent over the period according to the latest figures from the Registry Trust. Decrees numbers increased from 561 to 722 in Q1 (January-March) 2020. The total value of decrees against businesses fell 5%, to just under £3million. The average value also fell by 10% as…
Read more
The UK government has temporarily banned landlords from using winding-up orders and from what the government calls aggressive debt recovery tactics against retailers while the COVID-19 crisis continues. The Business Secretary has set out new measures to protect high street shops and other companies under strain. The companies will be asked to pay what they…
Read more
The Confederation of British Industry (CBI) has urged that the government accelerate the delivery of support to businesses. The CBI says that the Government has acted at pace to protect companies and jobs. So far around £6 billion in grants from local authorities have reached small businesses. And the Job Retention Scheme started strongly on…
Read more
The number of unpaid UK business invoices has increased by 23% according to new tracker by AI platform provider, Sidetrade. Sidetrade’s tracker is based on a statistical analysis of 26 million invoices, representing €54bn of business to business transactions with the payment behaviour of over 3.7 million businesses is tracked week by week. The company…
Read more
Experian, and other credit reference agencies (CRAs), have confirmed new guidance to protect business credit scores during the Covid-19 pandemic. Lenders can now offer an ‘emergency payment freeze’ to businesses that may be worried about meeting regular payments because of the pandemic. Once agreed, lenders should not report a build-up of arrears to the four…
Read more
More than one in four UK companies are being heavily impacted by the coronavirus pandemic. That is the conclusion of the business intelligence specialist Graydon which it says is based on the financial health of UK businesses and the current economic situation. Graydon estimates that of all companies that identified as healthy at the beginning…
Read more
Enforcement solutions specialist Just has announced that Scott Collin has accepted the permanent role of Group Chief Commercial Officer (CCO). Collin will sit on the boards of both Just and its sister company, Arum. Collin has been working with Just since its launch last year and with Arum since the beginning of 2019, following more…
Read moreA third of UK SMEs will be unable to cover their costs by the end of July despite an unprecedented £330bn package of loans and guarantees from the Government, according to the latest research from Bibby Financial Services (BFS). The new study of SMEs shows this number rising to more than half should the lockdown…
Read more
Water regulator, Ofwat has proposed a package of measures to protect business retail customers and minimise disruption in the market. The impacts of COVID-19 are being felt across the whole of the UK economy and throughout each and every sector. In water, the business retail market in England will inevitably be affected, both through businesses…
Read more
Latest Red Flag Alert data for Q1 2020 found there were large numbers of UK businesses experiencing significant financial distress at the end of March 2020, with the overall figure now exceeding half a million for the first time. New research from insolvency and advisory Begbies Traynor Group, has found that the largest quarterly increase…
Read more
Some 60% of the UK’s event industry’s supplier base is facing collapse within three months, unless event businesses receive further support from the Government, according to an online survey carried out by the Events Industry Forum (EIF) and Business Visits and Events Partnership (BVEP) and co-ordinated by the Production Services Association (PSA) between 3-7th April, …
Read more