Credit, Collections & Insolvency News
A survey of SME workers has found that close to 2 out of 3 people (65%) have suffered from mental health issues as a direct outcome of the pandemic, with women suffering marginally more than men. The survey by Purbeck Insurance Services found 66% of women have suffered from issues such as poor sleep, feelings…
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Retailers suffered their worst annual sales performance on record in 2020 according to new British Retail Consortium (BRC) figures. The figures for 2020 overall indicated that total sales declined 0.3% compared with 2019. Food growth was 5.4% and the Non-Food decline was 5.0% for the year. In-Store sales of Non-Food items declined by 24%, compared…
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With the UK now officially separated from the European Union, new research from Nucleus Commercial Finance has found that the UK’s SMEs are worried about their future and the negative impact Brexit will bring to the economy. The research found that three in ten (30%) small to medium-sized businesses think Brexit will have a negative…
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Finance leaders expect a return to growth in 2021 with optimism rising to a record high, according to Deloitte’s latest CFO survey. Despite the surge in business optimism, half of CFOs do not expect demand for their own businesses to recover to pre-pandemic levels until the last quarter of 2021 or later. The Deloitte CFO…
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At least 250,000 UK small businesses set to fold without further help, a new study has warned. The Federation of Small Businesses (FSB) Small Business Index (SBI) has shown that confidence at the second-lowest ebb in the report’s ten-year history with one in five firms reduced headcounts in three months to December with one in…
Read moreCifas, the UK’s leading fraud prevention service, is warning UK taxpayers to be vigilant of scams as the 31st January deadline for self-assessment tax returns approaches. On top of scammers taking advantage of the uncertainty caused by the pandemic throughout 2020, HMRC received more than 846,000 reports of suspicious communications impersonating them in the 12…
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A new report by the Credit Services Association (CSA) says that taxpayers could be saved huge sums if debt collectors are allowed to take on a bigger role in collecting unpaid coronavirus loans. The trade body is calling for an investment in BBL Engagement Scheme and use of professional collections agencies to ensure fair and…
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New data from UK Finance has revealed that gross lending to SMEs in the first three quarters of 2020 amounted to more than double the annual total for 2019, reaching £54 billion. The data, released as part of the quarterly Business Finance Review, shows that the UK banking and finance industry has delivered an unprecedented…
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Almost 30,000 job losses were recorded across restaurants and casual dining firms in 2020, with the coronavirus crisis driving a 163% jump in job cuts as restrictions designed to fight the spread of the virus hit the sector according to new figures compiled by The Centre for Retail Research. The research highlighted major closure proposals…
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The government has announced that there will be a new national lockdown. The new restrictions which aim to curb the spread of Covid-19 have come into force in England and Scotland as national lockdowns similar to those introduced last March begin. As a result of the lockdown, businesses in retail, hospitality and leisure will receive…
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In December the following administration notices have been issued and advertised in the London Gazette for the following companies: 100 CLERKENWELL ROAD LTD 254 KILBURN HR LLP AFAN VALLEY LTD ATLANTIC BAY HOTEL (WOOLACOMBE) LTD AG SAFEBOOTHS UK LTD ALLANDER PRINT LTD ALPINE ELEMENTS LTD ALVIS HOUSE LTD ANIMA VINCI LTD ARCADIA GROUP LTD ARCHANT…
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In December, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ACCOUNTANCY SERVICES HR 2 LTD ACCOUNTANCY SERVICES HR 3 LTD ACCOUNTANCY SERVICES HR 4 LTD ADVANCED OPTICAL LTD AG SAFEBOOTHS UK LTD AMS & SONS GROUND ENGINEERING LTD ANVILLE LTD ATLANTIC DWELLINGS HR LTD AXE CORPORATE…
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Credit Connect has published its second annual Credit & Collections Technology company power list for 2020. The power listed is a round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements and successes of the top-performing companies. The…
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