Credit, Collections & Insolvency News
Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 101 ARTISTS LTD 1ST CHOICE BUSINESS SOLUTIONS LTD 36 SCARBOROUGH AVENUE LTD 36415201 LTD 4FIBS LLP A & W ROOFING SERVICES LTD A LEECH LTD A S BURNS LTD A-CLASS ASPHALTING LTD A.C.T DAMP & RENOVATIONS LTD ACQUISITION…
Read more
The number of debt decrees registered against Scottish businesses rose sharply during the first half of 2018, according to the latest figures released by the Registry Trust. There were 1,573 decrees issued against all businesses in Scotland during Q1 and Q2 2018, 31 percent more than during the same period of the previous year. A massive 64…
Read more
The number of business debt judgments registered in the Republic of Ireland has decreased, according to the latest figures released by Registry Trust. A decrease in the volume of business judgments, coupled with a 16 percent drop in the average judgment’s value led to a 39 percent fall in the total value of business judgments. The…
Read more
A positive global trend to strengthen corporate balance sheets and reduce gearing is masking a rise in leverage in vulnerable sectors and regions, creating hotspots of increased risk for cross-border trade, according to the world’s leading trade credit insurer Euler Hermes. The findings come as Euler Hermes publishes its latest research on global corporate debt,…
Read more
Build UK, a representative organisation for the UK construction industry, has published information on the payment performance of its contractor members using data submitted under the Duty to Report on Payment Practices and Performance. Identified as a specific action within the recently published Construction Sector Deal, Build UK members have collectively agreed for Build UK to benchmark…
Read more
Customer late payment continues to hamper the growth of small subcontractors working in the UK construction sector, according to new research by Bibby Financial Services and the Vinden Partnership. Bibby Financial Services research entitled ‘Subcontracting Growth 2018’, revealed that 60 per cent of subcontractors in the UK had suffered from bad debt in the last 12…
Read more
The Insolvency has published the latest business insolvency figures for England and Wales which indicate that total the underlying number of insolvencies decreased in Q2 2018 but was higher than the same quarter in 2017. The Insolvency Service says this was driven by falls in compulsory liquidations, administrations and underlying creditors’ voluntary liquidations. Corporate insolvencies…
Read more
Vehicle credit management specialist, Anglia UK, has announced that it has appointed a new Business Development Manager. Nathan Keegan joins the business with some 20 years’ experience in the motor finance industry. Prior to joining Anglia he was responsible for sales at the VW Group’s MAN Heavy Truck Division. During his career, Keegan has also worked…
Read more
Recovery firm Andrew Wilson & Co has announced that it will increase the High Court Enforcement Officers (HCEO) team from two to five. Kelly Cookson, 34, Eric Roe, 25 and Joe Hanlon are on course to become three of the youngest High Court Enforcement Officers (HCEO) in the country. High Court Enforcement Officers are authorised by…
Read moreAccountant in Bankruptcy (AiB) has released its latest official statistics reporting company insolvencies in Scotland for the first quarter (Q1) of 2018-19 and final statistics for the 2017-18 financial year. The results show that the number of corporate insolvencies in Scotland fell by 5% in Q1 2018-19 (April-June 2018) compared with Q4 2017-18 (January-March 2018),…
Read moreAccording to Begbies Traynor’s Red Flag Alert research for Q2 2018, which monitors the financial health of UK companies, 472,183 businesses were experiencing ‘Significant’ financial distress at the end of June 2018. This is up 9% compared to the same stage last year (Q2 2017: 434,492) but down 1% compared to the previous three months…
Read more
The Credit Services Association (CSA) has been shortlisted within The Association Excellence Awards 2018 for its work in promoting the quality and professionalism of its members in supporting customers in debt and returning monies to the UK economy. A panel of 20 senior figures from UK-wide trade associations have identified the CSA as one of…
Read moreThe Lending Standards Board (LSB) and the Money Advice Trust, the charity that runs Business Debtline, have published a report that explores the impact of vulnerable circumstances on people who run small businesses. The report draws on insight gathered from LSB registered firms, as well as interviews with money advisers and clients of Business Debtline,…
Read more