Credit, Collections & Insolvency News
New research of annual B2B payment practices research conducted by global credit insurer Atradius show an increasing level of deterioration in payment practices in the Americas. The report also highlights: Average payment duration increased from 61 days in 2017 to 63 days in 2018. On average, 90.3% of respondents frequently experience late payments (the average is…
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Just over half of all technology and IT companies in Scotland are at higher than average risk of insolvency in the next 12 months, according to new research from insolvency and restructuring trade body R3. The percentage of IT companies in the negative band (50.1%) in June 2018, equating to 5,600 firms, is a steep…
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A new report by Coface has found that that there is a high number of signals of risk in Q2 2018, which is reminiscent of the situation in the years 2012-2013 when the rise of sovereign spread in the Eurozone, increased protectionism, higher oil prices, capital outflows from major emerging countries, global trade on the…
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Over a quarter (26%) of UK companies have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3, the insolvency and restructuring trade body. The research found the financial impact of the insolvency of another business was described as…
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The Federation of Small Businesses (FSB) is calling on the Government to accept a raft of public procurement reforms that will promote supply chain best-practice and unlock the potential of the UK’s 5.7 million small businesses. Data from the latest FSB report, ‘Chain Reaction: Improving the supply chain experience for smaller firms’, shows that 25%…
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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…
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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%)…
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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.…
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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,…
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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…
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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…
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