Credit, Collections & Insolvency News
Rimilia has announced that they will co-host an executive event with Microsoft that advises CFOs and CIOs how to use artificial intelligence to improve their financial operations and increase cash. The event titled The Change Catalyst in Working Capital will take place on Thursday, 16th May in London The event will present how global companies…
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Accountant in Bankruptcy’s (AiB) has published its latest provisional figures ( January to March 2019) which show that there were 966 Corporate insolvencies in Scotland in 2018-19 up from 884 last year. Commenting on the latest figures, Minister for Business, Fair Work and Skills Jamie Hepburn said “These figures highlight the challenging economic times we…
Read moreThe HMRC applied to shut down 4,160 businesses in 2018, due to these UK businesses having “fallen behind” on their tax payments last year. according to new statistics by Funding Options. The report cited that HMRC has been too aggressive in their approach when shutting down businesses. Conrad Ford, CEO of Funding Options. said “The…
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A record net 2,481 stores disappeared from Great Britain’s top 500 high streets in 2018. In total, 3,372 shops opened, compared to 5,833 closures. (2017 net loss: -1,772 stores), according to PwC research compiled by the Local Data Company (LDC). The number of store openings by multiple retailers* on Great Britain’s top 500 high streets…
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Debt recovery agency CCI Credit Management (CCICM) has announced that has been re-accredited with an Investors in People gold award. The award is for best practice in managing staff, performance, and its business, assessors stated in their report that it is still seen as the ‘go-to company in debt collection’ since its first IIP recognition…
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Debenhams has entered pre-pack administration with control of the company now falling into the hands of its lenders as part of an administration process. The company has 166 stores, which for now continue to trade, although it has indicated that 50 branches are earmarked for closure in the future. Its lenders include Barclays and Bank…
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Ofwat has allocated customers affected by the proposed liquidation of Aquaflow Utilities to Clear Business Water, following a competitive process. Ofwat have worked with the market operator, MOSL, to switch affected customers and they should be receiving information from Clear Business Water soon. Ofwat has used powers under the Interim Supply Code, and stepped in…
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The Small Business Commissioner, Paul Uppal, has highlighted poor supplier payment practices at Holland & Barrett, following the publication of his report into a late payment complaint made by a small business. The official complaint was logged with the Small Business Commissioner by the London-based technology consultancy after Holland & Barrett failed to pay a…
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Almost 115,000 businesses waited an average of 57 days for payment in 2018 with more than 1,000 of these subsequently entering insolvency as a result, according to new data from insolvency specialist Begbies Traynor. The data, which was gathered from more than 1 million debtor day reports since 2011, also revealed that of those 1,000…
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Figures released today by the Jubilee Debt Campaign, based on IMF and World Bank databases, show that developing country debt payments increased by 85% between 2010 and 2018. The new analysis from Jubilee Debt Campaign shows that average government external debt payments across the 124 developing countries for which data is available have increased from…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 06606420 LTD 119 MARYLEBONE ROAD TENANT LTD 3A’S CONSULTANCY LTD 56 EP LTD A & D MAINTENANCE CO. LTD A HERITAGE WINDOW CO. LTD A M PROPERTY MANAGEMENT SERVICES LTD A W CLEAVER HAULAGE LTD ABS SCAFFOLDING LTD…
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Administration notices have been issued and advertised in the London Gazette for the following companies: A. & J. FABTECH LTD ABILISOFT LTD ACCESSIBLE TRANSPORT GROUP CONTRACT SERVICES LTD ACCESSIBLE TRANSPORT GROUP LTD AKTIS STRATEGY LTD ALLERFORD HOLDING LTD ALLERFORD INTERMEDIATE NEWCO LTD ALTIMA LIGHTING LTD AMBITEMP (M&E) LTD ARCH HALL LTD ARCH HALL SOUTH LTD ASHFIELD…
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Firms across the UK are bracing for a week of new cost increases and reporting requirements, with the Federation of Small Businesses (FSB) calling on government to support those impacted and rule out the introduction of fresh burdens. From today, HMRC is forcing VAT-registered businesses to comply with its making tax digital (MTD) initiative. The…
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