Credit, Collections & Insolvency News
New research commissioned by MBH Corporation, a UK headquartered listed diversified investment holding company that acquires successful, strong-performing small to medium enterprises across multiple geographies and sectors has revealed that one in five SMEs still expect to make a profit in 2020, with 24% expecting to break even and the remainder believing they will either…
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For the first time this year, small business confidence has held firm from one quarter to the next. The day after the Government announced its three-tier Covid restrictions, new research suggests the avoidance of a second national lockdown and certainty of direction until March has had a positive impact on UK small business confidence. The…
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A new 5-day conference for the commercial credit sector has been launched by Credit Connect in partnership with Aon The Credit Solution Conference, a 5-day event will take place online between Monday 7th December and Friday 11th December. The event content will be hosted by Aon and the event will be facilitated by Credit Connect…
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Research carried out by Cifas, the fraud prevention service, shows that 80% of fraud prevention professionals believe businesses are unprepared for an expected surge in fraud as the Covid-19 crisis presents fraudsters with new opportunities. The results come as part of a survey carried out among professionals from some of the UK’s leading organisations and…
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Business leaders fear a potential double hit from the Covid-19 pandemic and no deal, new figures from the Institute of Directors (IOD) reveal. In a survey of almost a thousand company directors conducted in late September, the majority said that the pandemic would magnify the impact of a no-deal Brexit on their organisation, while less…
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Shop closures have hit record levels with over twice as many net store closures in the first half of 2020 in comparison to last year, according to research by the Local Data Company and PwC UK. The data shows that 11,120 chain operator outlets have closed this year so far, with 5,119 shops opening, creating…
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Under new proposals being drawn up by the government, large companies could now face fines or court orders if they fail to pay their smaller suppliers on time. However, according to Know-it, a cloud-based credit management platform, while the changes are welcome and will provide the small and medium-sized enterprise (SME) sector with some much-needed…
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A new trade report from Atradius has predicted a rise in insolvencies from the Czech Republic. In the report, Atradius economists detail how GDP contracted by 2% year on year in Q1 of 2020 and by 11% in Q2. Overall in 2020, the economy is forecast to decline by 6% with industrial production and exports recording…
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The Insolvency Service has published its latest figures which indicate that in September 2020 Scottish company insolvencies decreased by 43% when compared to September 2019. Business insolvencies comprised of 12 compulsory liquidations, 22 CVLs and 9 administrations. There were no company voluntary arrangements or receivership appointments. Historically the volume of company insolvencies in Scotland have been…
Read moreThe Insolvency Service has published its latest business insolvency statistics for England & Wales which have revealed that the overall numbers of business insolvencies numbers increased Business insolvencies increased to 926 in September 2020 compared to August’s figure of 784, but remained well below September 2019’s figure of 1,513. Business insolvencies comprised of 742 creditors’…
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In September the following administration notices have been issued and advertised in the London Gazette for the following companies: A&C UK GROUP LTD AQUASCUTUM (1851) LTD ARCHANT COMMUNITY MEDIA HOLDINGS LTD ARCHANT LTD ARGONAUT PROPERTY INVESTMENTS LTD ASSIMA UK LTD ATLAS 3T LTD AURUM GLOBE LTD BLACK AND BLACK RECRUITMENT LTD and other companies BOSSA…
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In September, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 2020 EDUCATION TECHNOLOGY LTD AMZ-UNLTD LTD B15 GROUP LTD B15 HOLDINGS LTD B15 LTD BENJAMIN’S INTERIORS LTD BISON CIVILS UK LTD BLANK THREAD SOURCE LTD BRYANMIZEN LTD CAILINI CAFE BAR LTD CARAVANA HOLDINGS LTD CARE FIRST…
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New ONS figures have shown that the UK unemployment rate has risen to 4.5% with the claimant count rising 120% since March to more than 2.7 million/ Following the announcement of the figures, small firms are now calling for new measures to spur job and business creation. Federation of Small Businesses (FSB) National Chairman Mike…
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