Credit, Collections & Insolvency News
The Irish Small & Medium Enterprises Association (ISME) Credit Watch latest survey shows that late payment has deteriorated from 59 days to 61 days in Q2. Dublin and Ulster businesses are waiting the longest to be paid. Commenting on the results ISME, CEO Neil McDonnell said “Todays’ results are disappointing. Late payments are a big issue for SMEs;…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 34W LTD 360PRECISION LTD 365 (2012) LTD A 2 DELICIOUS LTD A&J WATER TREATMENT LTD AAA DRIVEWISE CONTRACTS LTD AALBORG PLACE LLP AB RESTAURANTS LTD ABEL OF HERTFORD LETTINGS LTD ACORN DEVELOPMENTS (KENDAL) LTD ADASTRA PUB COMPANY LTD ADVANCE EMPLOYABILITY…
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New research from Begbies Traynor shows that 329,834 UK companies were experiencing “Significant” financial distress at the end of Q2 2017, a 25% increase from Q2 2016 (263,517 companies), representing the largest annual increase since Q2 2014 and the largest number of corporates experiencing significant distress in at least 5 years*. The Red Flag Alert…
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The Federation of Small Businesses (FSB) is to partner with leading law firm Ascent in order to provide a new dedicated debt recovery service for its members. Ascent will offer the FSB’s 170,000 strong membership a range of debt recovery services aimed at helping them tackle the issue of late payments, including free solicitors, demand…
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Equita has announced that it has appointed Bev Osborne to Equita in a new position as Senior Client Services Manager. Osborne has held leadership roles in a Utility, Capital One and Nottingham City Council (latterly Nottingham Revenues & Benefits Ltd) as the Business Manager for Revenues. Osborne has a track record of consistently delivering against and…
Read moreInsolvency action may arise as an unintended consequence of the introduction of the new Pre-Action Protocol for Debt Claims on 1st October according to law firm Clarke Willmott. Karen Chapman from Clarke Willmott LLP. Chapman says the Ministry of Justice’s protocol will potentially make it a longer and more onerous process to recover debts from sole traders or…
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Commercial debt collection agency, Hilton-Baird Collection Services has appointed Receivables management expert Victoria Herd as a Director. A Fellow and Advisory Board member of the Chartered Institute of Credit Management (CICM), Herd will be using her extensive expertise to help the company’s corporate clients to improve their order-to-collections process, policies and systems in order to boost…
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The UK’s smaller businesses are facing a total bill of £2.16 billion to chase overdue payments, according to Bacs Payment Schemes Limited (Bacs). That’s in spite of a dramatic drop in the overall late payment debt, with new figures showing that UK small to medium size enterprises (SMEs) are owed £14.2 billion in contrast with…
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The Federation of Small Businesses (FSB) has called on Communities Secretary Sajid Javid to provide a letter of direction to local councils in England to speed up help for small firms facing unacceptable increases in their Business Rates. £300 million in discretionary relief was promised in the Budget in March, yet many local authorities have so…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 07715030 LTD 8POINT3 LTD A & D ELECTRICAL LTD A.N.A. MOT EXPRESS LTD ACORN DEVELOPMENTS (KENDAL) LTD ADJUST PERSONNEL LTD ALEXANDER DU’BEL WISH FOUNDATION ALL PEOPLE RECRUITMENT LTD ALTEC ENGINEERING LTD ALUFAB LTD AMBER SOLAR LTD ANGLESEA HOME IMPROVEMENTS LTD…
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The Federation of Small Businesses (FSB) has welcomed the Government’s announcement that 32 of it’s biggest suppliers have signed up to the Prompt Payment Code. The move represents a positive step in tackling the poor payment culture that is rife in the UK. Research from FSB highlights that the UK’s poor payments culture costs the…
Read moreDundee City Council has announced that iut has lost out on more than £3 million owed to it by business owners last year. The local authority was forced to write off £3.012m it was due from traders in the city in 2016/17, a fivefold increase from the level in 2012. A number of trading chiefs…
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Financial software provider Rimilia, has announced a partnership with French Company Fi Software to provide cutting edge AR automation solutions and serve the rapidly growing French market. Fi Software, based in Paris, will serve the entire French market and is spearheaded by Co-founders Stéphane Hilliere and Raphaël Viette. Stéphane and Raphaël Stéphane Hilliere, Co-founder of…
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