Credit, Collections & Insolvency News
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…
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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,…
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Freelancers and micro-business owners throughout are suffering from late payments from clients, new research has revealed. Large businesses continue to pay suppliers late as late invoices payments continue to drive more small businesses into financial distress. The new research from cloud accounting software company FreeAgent has revealed that UK-wide, just 52 per cent of invoices sent…
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Around 17% of companies in Scotland may have suffered a financial hit following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3 in Scotland, the insolvency and restructuring trade body. The Scottish figure is lower than the proportion of UK companies reporting a negative effect…
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The number of failures of UK companies has risen 30.0% to 4,827 in the second quarter of the year, compared to the same period a year ago, according to the latest figures from Creditsafe’s Watchdog Report. The quarterly Watchdog report, which analyses financial data across 12* UK business sectors, showed that high profile high street…
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Small businesses across the UK are still chasing £14.9 billion in late payments resulting from goods and services they have provided, according to new research by Liberis. The study claimed that on average respondents were owed £11,000, which extrapolated to £14.9 billion across the UK’s 5.7 million small firms. The survey found that the amount…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: (EN) 10 (GLOBAL) LTD 1PK LTD 24/7 RESCUE AND RECOVERY UK LTD 3B VISION LTD 3G TOOLING LTD A.S.T. DEVELOPMENTS LTD A1 DEMOLITION LTD A1 HARPREET CONSTRUCTION LTD ABC EVENTS (SCOTLAND) LTD ACCESS SECURE SCAFFOLDING LTD ACM FACILITIES…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 1ST CALL RECRUITMENT LTD A2B LOGISTICAL LTD ABBEVILLE INSTRUMENT CONTROL LTD ADAM MICHAEL SCAFFOLDING SERVICES LTD ADM PRECISION LTD AL-UMMAH HALAL POULTRY LTD ALLABOUT CLEANING SPECIALISTS LTD ANBO INTERNATIONAL LTD B & W LOGISTICS LTD BARWELL FINISHERS LTD BAXENDEN DEVELOPMENTS LTD…
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Debt levels among Britain’s listed companies have hit a record high according to new research by Link Asset Services. Link Asset Services’ Debt Monitor report has revealed that listed companies’ debt has increased 69% since 2010/11, with oil companies seeing the fastest increase. The report measures the level of debt taken on by the UK’s…
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Advanced Collections Systems (ACS) has been examined by the Government’s National Cyber Security Centre and given a Cyber Essentials certification. Cyber Essentials certification is mandatory for central government contracts which involve handling personal information and providing certain ICT products and services. Certification demonstrates that Advanced Collection Systems (ACS), which specialises in providing debt collection services…
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