Credit, Collections & Insolvency News
Debt recovery specialist Spratt Endicott has announced the appointment of Heather Jackson as Business Development Manager. Jackson will be tasked with driving the department forward, helping to secure new accounts and maintaining strong working relationships. Richard Gwynne, Director of Commercial Recoveries at Spratt Endicott, said: “We’re delighted to welcome Heather to the team. The ability…
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Eleven firms – including several big names within the military, aerospace and defence sectors – have been suspended from the Prompt Payment Code for failing to pay suppliers on time, the Chartered Institute of Credit Management (CICM) has announced. BAE Systems (Operations) Limited, Leonardo MW Limited, and Smiths Detection are among those who have failed…
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The number of companies falling into administration across England and Wales increased by just under 5% over 2019, highlighting the number of high street failures according to new analysis from KPMG. A study of notices in the London Gazette shows that a total of 1,403 companies went into administration during 2019, compared to 1,341 in…
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Two in five small business leaders (39%) predict growth by 31st March – the highest level for 18 months, according to new research from Hitachi Capital Business Finance. By industry sector, this quarter sees a rise in growth outlook registered across the board in all but two sectors, with a significant upturn of growth projections…
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In January, the following administration notices have been issued and advertised in the London Gazette for the following companies: A.R.G. (MANSFIELD) LTD AMG DEVELOPMENTS LTD ATLAS CITY GLOBAL LTD BEALE LTD BOTLEIGH GRANGE LTD BREEZE ENERGY SUPPLY LTD BROCKET HALL (UK) LTD BUTTIMER ENGINEERING UK LTD C.E.M.PRESS LTD C45 LOGISTICS LTD CARTERS HAULAGE LTD CCL35…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in January: 2 X 2 LTD 32 DEGREES TANNING LTD 389LOG LTD 6 MUSTARD LTD 607 ENGINEERING LTD 786 EXPRESS LTD A & S WINDOWS LTD ABALAN LTD ABBEY GARDEN MACHINERY LTD ABBOTTS BUILDING CONTRACTORS LTD…
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In January, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 4500 MILES FROM DELHI LTD 4D ELECTRICAL SERVICES LTD AA STAR CLEANING LTD ABACUS ESTATES (LONDON) LTD ABBEY INNS LTD ABSOLUTE ROOFING CONTRACTORS LTD ABUELO COVENT GARDEN LTD ADMIN HELPERS LTD ADVANCED HAIR DESIGN LTD AEMCA…
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Business Insolvencies can be expected to continue to rise in the UK, up 7% or higher in 2020 following Brexit’s confirmation (on Friday 31st January) according to predictions by Atradius. Atradius says, we can expect to see a rise in business failures throughout most of Europe, albeit at a more moderate rate. Insolvencies in the…
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The number of companies that entered insolvency in Northern Ireland during the run-up to Christmas is significantly up on last year. There were 114 company insolvencies in the final three months of 2019. It represents a 56.2 per cent rise in company insolvencies compared with the same quarter in 2018. Some 79 were cases of…
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Regulator, the Institute of Chartered Accountants in England and Wales (ICAEW) has issued a £925,000 fine to the administrators involved in the collapse of electrical goods retailer Comet. ICAEW has fined Deloitte £925,000, plus costs, for failings in its procedures relating to the administration of the company in 2012. ICAEW found that Deloitte’s client take-on…
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A new debt recovery law has been launched following authorisation from the Solicitors Regulation Authority (SRA). AJJB Law says that it will be a modern legal practice specialising in all aspects of financial debt recovery litigation and will operate from the same location as its parent company CRS. The company says that its debt collection…
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Enforcement specialist JBW Group has announced it has fully acquired the shares of debt collection agency (DCA) Advantis Credit with funding provided by OUTSOURCING Inc. Advantis will continue to be managed separately to JBW and will retain its brand and management team, led by CEO, Mark Webb. This acquisition brings FCA Regulated Debt and Contingent…
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Representatives of the construction industry, Build UK, have published the latest payment results submitted by its members under the ‘Duty to Report on Payment Practices and Performance’. The report’s aim is to create greater transparency across the construction sector which in turn will lead to improved payment practices. The report shows that contractor members showed…
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