Credit, Collections & Insolvency News
The payment delay crisis has worsened for small construction businesses in the last year, exacerbated by Carillion, according to Funding Options. Funding Options says that suppliers now have to wait over 42 days on average for invoices to be paid, up from just over 40 days on average five years ago in 2013/14. Construction businesses are…
Read more
Customer non-payment continues to hamper the growth of small subcontractors working in the UK construction sector, according to a study by financial services provider Bibby Financial Services (BFS) and industry experts, The Vinden Partnership (TVP). Findings of the Subcontracting Growth 2018 research, undertaken in the aftermath of the collapse of Carillion, reveal that three-fifths of subcontractors (60%)…
Read more
The Services sector continues to show signs of improvement in business confidence according to the latest results (Q1 2018) from the UK’s Credit Managers’ Index (CMI), the quarterly barometer from the Chartered Institute of Credit Management (CICM). The 1.5-point increase in Services sees the index close at 54.6, a 0.3 percent climb on Q4 2017.…
Read more
A new joint report published by Cranfield School of Management and Dun & Bradstreet has found that risk in supply chain differs by industry sectors. The report has investigated the level of supply chain risk faced by European companies with international supplier relationships. The report used four key metrics – supplier criticality, supplier financial risk,…
Read more
Recoveries and Insolvency specialist Wilkin Chapman has announced that it has appointed a new Client Relations Manager. Rob Andrews joins Wilkin Chapman joining Paul Bowden and the dedicated local government team. For the past 20 years, Andrews has worked closely with the public sector in various roles including software implementation and latterly business development for the…
Read moreA five-year study by the Chartered Institute of Credit Management (CICM) of the use and application of credit in driving the UK economy suggests credit managers are more confident today than in previous years, despite ongoing uncertainties over the economy and Brexit. The Changing Fortunes of credit and the UK Economy 2011-2016 report shows the Credit…
Read more
The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the full programme for this year’s UK Credit and Collections Conference (UKCCC), including a keynote address by Romana Pearson, Head of Consumer Credit at the Financial Conduct Authority (FCA). The conference is divided into morning and afternoon…
Read moreFollowing the recent increase in company voluntary agreements (CVAs), the British Property Federation (BPF) has called on the government to conduct an urgent review. The BPF believes the process is now being misused, saying that this risks undermining the UK’s global reputation and deterring much-needed investment into town and city centres, at a time when it…
Read more
The total value of UK business judgments rose sharply by 25 percent during the first quarter of the year, according to figures released by TrustOnline.The figures also show that the total number of judgments against businesses was up 8 percent on the same quarter in 2017. Over the same period the number of online searches…
Read more
Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09155717 LTD 1313 BATH LTD 2391 ELECTRICAL SERVICES LTD 404 ENTERPRISES LTD A MORREY DISTRIBUTION LTD A PROPERTY MANAGEMENT LTD A STUDIO LTD ABER HOUSE LTD ABSOLUTE WAREHOUSE SOLUTIONS LTD AC BOLTING AND TESTING LTD ACCESS SECURE SCAFFOLDING…
Read more
Big business has been put on notice by the Federation of Small Businesses (FSB) and warned that they must do more to end late payments, poor payment practice and supply chain bullying that is damaging the UK economy. A letter from FSB National Chairman, Mike Cherry, to all FTSE 100 companies urges Chairs and CEOs to…
Read more
Businesses in the UK have reported decreasing bad debt losses in a sign of a strengthening economic environment. On average, businesses wrote off 2 percent of annual revenue due to non-payment in the past 12 months; a decrease from the 4.7 percent reported by UK companies in 2017. The findings are part of the European Payment…
Read more
As a strong sign of a stable economic development in the majority of Europe, businesses are reporting decreasing bad debt losses. On average, 1.7 percent of the yearly revenue had to be written off due to non-payments in the past 12 months; a decrease compared to the 2.14 percent reported by European companies in 2017…
Read more