Credit, Collections & Insolvency News
Trade credit insurer Atradius has published a new report revealing the challenges and opportunities facing the global machinery and engineering sector. The Atradius Market Monitor reveals that after a reasonably good performance in 2017 and a continuing trend at the start of 2018, growth within the sector is expected to slow alongside a rise in…
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The number of debt decrees registered against Scottish businesses rose by more than a third during the third quarter of 2018, according to figures released today by Registry Trust. There were 754 decrees issued against all businesses in Scotland during Q3 2018, 34 percent more than during the same period the previous year. A 44…
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A national team of debt recovery specialists, described as the industry’s “benchmark”, is once again named in the Top Tier of the prestigious Legal 500 guide. The debt recovery team at law firm Clarke Willmott LLP was awarded Tier One status for debt recovery in the South West as well as Tier Two status for…
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High street shops closing at a rate of ’14 per day’ according to a new report released by accountancy specialist PwC and the Local Data Company. The report says high street shops are still facing testing times as new research shows the gap between closures and openings widens to a record level, but closures have stabilised.…
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Anglia UK is ending the year with a third key senior appointment. The credit management, haulage and dealership auditing firm has appointed Claire Mitchell as its new Head of Operations. Mitchell joins the company with some 30 years’ experience in the vehicle finance industry having previously worked at a senior level for Lombard Asset Finance,…
Read moreAnalysis of figures from the Insolvency Service shows that 1,123 restaurant companies have become insolvent so far this year. This compares to 833 in the first nine months of 2017 and 1,075 in the whole of last year. Further analysis from accountancy firm Price Bailey shows insolvency rates within the sector have risen by 35%…
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A growing number of small business owners and self-employed people are facing high levels of debt as they struggle to keep their businesses afloat, according to new research from Business Debtline. Findings show that half (49%) of the people contacting the service last year had debt totaling £10,000 or more, with nearly a quarter (23%)…
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Almost half of those working in the financial services sector (47%) are convinced that robotisation will lead to far fewer jobs within the industry in the UK. In addition to the fact that robotisation will have a significant impact on employment, employees also expect that artificial intelligence (36%) and the arrival of big data (36%)…
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Changes in the Autumn Budget which will see HM Revenue & Customs (HMRC) take up a position as a preferred creditor in insolvency cases, could see smaller firms lose out on money they are owed, warns insolvency firm, Gibson Hewitt. Gibson Hewitt says that changes in the Budget to the pecking order for creditors could…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1ST CALL SUPPORT LTD 1ST CRT GROUP LTD 3 COUNTIES DAMP & TIMBER (UK) LTD 3473 LTD 365 CATERING LTD 3N MANAGEMENT LTD 5MU PROPERTIES LTD A & C SOLUTIONS LTD A FRANCE INDUSTRIAL ROOFING & WALL CLADDING…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 93 MILESPIT HILL LLP AMERICAN GOLF DISCOUNT CENTRE LTD ARCH ANGELZ LTD ARENSIS ENERGY ONE LTD ASSURED STORAGE SOLUTIONS LTD ATTICROSE LTD BANHAM GROUP LTD BANHAM POULTRY LTD BEACH HOLIDAY HOMES LTD BENTLEY HARRINGTON LTD BETA DISTRIBUTION PLC BLOCKLAB LTD BLUE…
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The time it takes to pay suppliers across the UK has improved by 14 percent, with payments taking on average 42 days in 2018 compared to 49 days in 2016. The data compiled by Tungsten Network, shows that the time from invoice submission on its network to payment has steadily improved since 2016, coinciding with…
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Company insolvencies in Northern Ireland stood increased to 65 in the last quarter – up 14 percent on the same period in 2017 but almost half that of the last quarter (125). Of these, 30 were compulsory liquidations (down from 35 on the same period a year ago), and 24 were creditors’ voluntary liquidations (up…
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