Credit, Collections & Insolvency News
New data released by Creditsafe’s Prompt Payment Premier League, has revealed Huddersfield Town takes on average 53 days beyond payment terms to pay invoices for its suppliers, the worst of any team from England’s top division. Meanwhile, Brighton & Hove Albion, who like Huddersfield had played their first season in the Premier League, top the rankings,…
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Credit management specialist, Anglia UK has announced that it has strengthened its senior management team with the appointment of two new directors. Lyn Danaher and Duane Snelling join with more than 20 years’ experience each in the vehicle finance and credit industry. Beginning her career with NatWest, Danaher moved on to work for Deutsche Bank…
Read moreEuler Hermes publishes its annual review and forecast of global average Days Sales Outstanding (DSO), based on a sample of 20 sectors and 36 countries. According to the 2017 figures, DSO reached its highest level since 2007 at 66 days. This trend is expected to continue in 2018 with global average DSO to rise by…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 21ST CENTURY ECO-HOMES LTD 321 TRAVEL LTD 3RD POINT THINKING LTD A S ELECTRICAL SERVICES (SOUTHERN) LTD A. G. AXTON & SONS (WHOLESALE) LTD ABACUS WILLS & TRUSTS LTD ABD CORPORATE SERVICES LTD ACCH (HENDON) LTD ACQUISITION 395448472…
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Half of the small businesses in the UK are currently operating in the red, according to the latest Small Business Insights published by Xero. According to new data, only 49.5 percent of businesses were operating in positive cash flow last year. Despite the various government initiatives that have been attempted, the UK’s biggest firms are still…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the line-up of speakers for this year’s UK Credit and Collections Conference (UKCCC). Two senior executives from the Financial Conduct Authority (FCA) – Roma Pearson (Head of Consumer Credit) and Richard Fox (Head of Cross-Sectorial & Funds…
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The Insolvency Service has released the latest numbers business insolvency in Quarter 1 (January to March 2018). The figures indicate that an underlying number of insolvencies (excluding bulk insolvencies) increased to the highest quarterly level since Q1 2014. This was driven by a rise in underlying creditors’ voluntary liquidations and compulsory liquidations. Duncan Swift, vice-president of…
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UK businesses saw a 27 percent surge in the number of adverse debt judgments last year, according to national statistics issued by TrustOnline. Over the same period, the number of online searches by people checking judgment status grew by ten percent. During 2017, 109,000 judgments were registered against businesses in England, Wales, Scotland and Northern Ireland,…
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The number of failures within the UK’s construction sector increased by 73.3% in Q1 2018 according to new figures from Creditsafe. The quarter kicked off with unexpected collapse of Carillion, which left thousands of suppliers unpaid and countless employees without work. The impact was clearly felt in the construction industry as four of the top…
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Credit managers, those who keep the cash flowing in business, are untroubled by Brexit, unimpressed by new regulation, and keen to see how new technology can enhance performance in the future. They are also valued by the companies who employ them, and actively involved in the performance and success of the businesses they represent. These…
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Debt owed to UK businesses across eleven core business sectors was £580m higher in the last three months than in Q4, 2017 according to latest figures from a Creditsafe. After falling to a 12-month low in Q4 2017 with £157.9m being filed, bad debt (debt owed to businesses) filed in the first quarter of 2018 reached…
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A new study of over 1600 larger UK retailers with total assets of £5 million or over by Company Watch, the financial analytics firm, found over a quarter were financially vulnerable to rises in interest rate costs this year. Company Watch reviewed the latest published full-year financial accounts of 1625 UK retailers. It found that 392 (24.1%) companies…
Read moreMore than a quarter (30%) of finance professionals believe that blockchain technology has the ability to offer enhanced data security in their organisation, while over half (51%) are confident that their organisation will be working with smart contracts incorporated in blockchain by this time next year. These findings come from a study of more than…
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