Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 22% in July 2020 compared with the same month in 2019. In the seven months to July 2020, new business contracted by 31% compared with the same period in 2019. The…
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Over half (54%) of businesses who had not permanently ceased trading said they were owed outstanding invoice payments according to the latest results from the Business Impact of Coronavirus [COVID-19] Survey (Bics), published by the Office for National Statistics (ONS). One in ten businesses reported being at moderate (9%) or severe (1%) risk of insolvency,…
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Many childcare providers had weak finances going into the crisis. The loss of income from parent-paid fees since March will mean that many providers face a tough time keeping their doors open. A total loss of income from parent fees would have put a quarter of private-sector nurseries at risk of running a significant deficit during…
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In August the following administration notices have been issued and advertised in the London Gazette for the following companies: AA LIGHTING CONTRACTORS LTD ACCESS RENTAL HIRE UK LTD AERO TECHNICS DESIGN LTD ARLINGTON INFRASTRUCTURE LTD AVNI KENSINGTON HOTEL LTD B.D. (S/W) LTD BAGEL NASH LTD BAR FIBRE LTD BELEM DEVELOPMENTS LTD BISHOP & SONS’ DEPOSITORIES…
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In August, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ABBOTTS WILLS & PROBATE SERVICES LTD ALE CONSTRUCTION LTD ALPHAMED REPORTING LTD ARLWM LTD ASTON DARBY GROUP LTD BDC AGGREGATES LTD BELMAR CARE HOMES LTD BIRCHCLAY LTD CAVERN WALKS CAPITAL LTD CIRCLE AUTOMATION LTD COMMERCIAL BRAKE…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in August. 24/7 SUPER MARKET LTD 3RD ELEMENT LTD 4 BODYMIND LTD 4UK LTD 5SPICES (LEEDS) LTD A & A (MELTON MOWBRAY) LTD A.BARLEY PLANT LTD A.M. STRAFFORD AND SONS LTD AB DRAINAGE LTD ACTION PETZ…
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Insolvencies in the UK are forecast to jump by 27% this year, slightly higher than the global average rise of 26%, reveals a new economic research report by top trade credit insurer Atradius. The latest Atradius Insolvency Report analyses the economic impact of the Covid-19 pandemic and the knock-on effect on insolvencies. Every major economy, except…
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The full economic and business impact of the Covid-19 crisis is yet to be felt, with the preservation of cashflow and investment in new technologies to predict risk being issues that will shape the agenda of business leaders over the coming months, according to Euler Hermes Chairman Wilfred Verstraete. In a letter to the company’s…
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Responding to further changes to the Job Retention Scheme taking effect last week, Federation of Small Businesses (FSB) National Chairman Mike Cherry said: “The Job Retention Scheme has been a huge success, protecting livelihoods and the futures of businesses all over the country. We now have to avoid a scenario where its wind down triggers…
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The latest Lloyds Bank Business Barometer has indicated that overall business confidence improved for third consecutive month, up eight percentage points to -14%, but remained well below long-term historical average. Despite the confidence, the latest Barometer figures continue to languish well below the long-term average and in negative territory, overall business confidence improved by eight…
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Brazil’s economy is forecast to contract by more than 6% this year with business insolvencies up by 20%, reveals leading trade credit insurer Atradius in its updated country reports. The new County Report details how the current economic decline has put an end to the modest economic rebound Brazil has experienced since 2017 following its…
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Retail employment fell at the fastest rate since February 2009 in the year to August, with an even sharper decline anticipated in the year to September, according to the CBI’s latest monthly Distributive Trades Survey. The survey which features 63 retailers among its 128 respondents, also showed a slight fall in retail sales on a…
Read moreOne in 10 businesses have admitted they are at risk of insolvency due to the pandemic. The figure is revealed in the latest business impact of coronavirus survey from the Office for National Statistics (ONS) which shows 10 per cent said their enterprise is at ‘moderate risk of insolvency’ and one per cent put the…
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