Credit, Collections & Insolvency News
In January, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ABACI PROCUREMENT LTD AMAZON CREEK LTD ASIANA LTD AVERY HOMES RH LTD BROOK TRADE BRYMAC (LONDON) LTD C7 BRANDS LTD CRANHAM CURTIS LTD DISCO RETAIL LTD EBULLIO INVEST LTD EBULLIO RETURN SPECIAL PURPOSE VEHICLE LTD ECOMMODITIES…
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In January the following administration notices have been issued and advertised in the London Gazette for the following companies: AH SCARBOROUGH HEALTH PARK LTD ASHRIDGE CONTRACTORS LTD AVON VALLEY PRECISION ENGINEERING LTD AVPE INVESTMENT LTD BAUMOT UK LTD BLACK HANGAR STUDIOS LTD BRACKNELL PROPERTY OPCO LTD CONDER ALLSLADE LTD COVRAD HEAT TRANSFER LTD CREATIVE DIGITAL…
Read moreBusiness funding specialist Decimal Factor has chosen to use LendingMetrics’ Auto Decision Platform (ADP) for its assisted decisioning to orchestrate credit decisioning data and scale its business. Decimal Factor specialises in arranging responsible funding solutions, including business loans, pension-led funding and invoice finance. Its goal is to make funding available to small businesses who are…
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UK small business growth forecasts remain unchanged on the previous two quarters, despite the UK starting 2021 in an unprecedented third national lockdown according to new figures Hitachi Capital Business Finance. With the latest lockdown expected to cost the UK economy almost £400million per day, and distressed sectors such as hospitality and retail in crisis,…
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A report from EY shows that the number of companies at risk of insolvency has doubled in the last 12 months. With 583 profit warnings last year, EY says 10% of FTSE 350 firms issued three or more profit warnings, noting that typically up to one in five firms that issue at least three warnings…
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New research by Lloyds Bank Business Barometer has shown that overall business confidence fell by three percentage points to -7% in January, reflecting renewed concerns about the pandemic and the impact on trading prospects. As the current restrictions continue to have a significant negative impact on most firms 52% of companies have reported lower sales…
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Latest statistics from the Insolvency Service have indicated that there were 12,557 underlying corporate insolvencies in England and Wales in 2020, a fall of 27.1% from 2019’s figure of 17,224. The total number of registered underlying company insolvencies in 2020 decreased to the lowest annual level since 1989. This was largely driven by a low…
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New HM Treasury figures have revealed that the banking and finance industry has approved nearly £71 billion to over 1.5 million businesses so far through government-backed coronavirus lending schemes. Over 39,000 small enterprises have received a Bounce Back Loan over the past month, with a total of 1.47 million businesses accessing the scheme since it launched in May last…
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Research by Santander has revealed that small businesses do not expect business to recover to pre-pandemic levels until next summer. The bank also found that one in twelve firms do not expect to survive the pandemic at all. antander says that with the UK now well into a vaccination programme that many hope will enable…
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County Court Judgments (CCJs) against businesses in England and Wales fell 36 percent in Q4 2020, compared to the same quarter in 2019, according to figures released by Registry Trust. The number of CCJs against businesses decreased from 23,418 in Q4 2019 to 15,052 in Q4 2020. The total value of CCJ debt owed by…
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The number of business decrees against Scottish businesses fell, by 44 percent, from 859 to 481 according to figures released by Registry Trust. However, the total value rose by 69 percent from just over £3 million to £5.1 million. As a result, the average value rose from £3,500 to £10,534, an increase of 200 percent.…
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The number of debt judgments registered against Northern Ireland businesses fell by just over half (51%), from 232 to 113, according to figures released by Registry Trust. However, the total value of judgments against businesses rose by nearly 20 percent from £483,903 to £578,927. The average value of business judgments rose steeply, from £2,086 to £5,123,…
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The number and total value of judgments registered against Irish consumers saw a huge fall in the fourth quarter of 2020 compared to the same quarter last year, figures released by registrar Irish Judgments show. The number of judgments against consumers fell by 72 percent, from 618 to just 172. The total value fell by…
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