Credit, Collections & Insolvency News
The COVID-19 pandemic is expected to see business lending grow by 14.4% this year – the highest level in 13 years – according to an EY ITEM Club Interim Bank Lending Forecast. Additional bank finance (including government-backed loans) has been crucial to UK corporates and SMEs during the pandemic, and it is predicted that firms…
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In July the following administration notices have been issued and advertised in the London Gazette for the following companies: 1ST CHOICE SCAFFOLDING (ISLE OF WIGHT) LTD 4-14 SPURSTOWE TERRACE LLP AERO TECHNICS AVIATION LTD AERO TECHNICS LTD AERO TECHNICS SERVICES LTD AIRBASE INTERIORS LTD AL REALISATIONS LTD ALBANY BRENT LTD ALPHA TECHNOLOGY (INT) LTD AMCO…
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In July, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 05034293 LTD 4MATION.SOLUTIONS LTD A. MORREY DISTRIBUTION LTD AESTHETIC COSMETIC LTD AFTERTHOUGHT GROUP LTD ALE TRADING LTD ALPHAMED REPORTING LTD AMIK PROPERTY INTERNATIONAL LTD ANDY MCNAIR BUILDING & MAINTENANCE LTD ASPEN GREEN ADMINISTRATION LTD BEAUFORT ASSET…
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Companies House has announced that it will resume the compulsory strike-off process from 10th October 2020. In announcement Companies House that it will resume the process to strike off companies that it believes are no longer carrying on business or in operation. In April 2020, Companies House introduced temporary easement measures in response to coronavirus…
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European business data, insights, analytics and solutions provider Graydon and UK fraud prevention service Cifas, have announced new fraud analysis which indicates a huge rise in attempted commercial fraud in the first 6 months of 2020. Graydon’s data from its sector intelligence networks has shown a rise of 66% in the value of the average…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 41% in June 2020 compared with the same month in 2019. In the first half of 2020, new business fell by 32% compared with the same period in 2019. The business…
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Results from the latest Britsh Chamber of Commerce (BCC) Coronavirus Business Tracker reveal that businesses are still facing significant cashflow challenges with the schemes announced in the Summer Statement failing to provide support at the scale needed to protect jobs after the furlough scheme winds down. More than half of firms report cashflow decrease since…
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More than four-fifths of UK medium-sized businesses can only continue trading for up to nine months with current funding arrangements, according to new research from accountancy and business advisory firm, BDO. BDO’s second ‘Re-thinking the Economy ‘survey of 500 medium-sized businesses across the UK reveals that medium-sized businesses have each taken an average of £21…
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Latest HM Treasury figures have reveal that just under 1.2 million businesses in the UK have been supported by finance from lenders through government-backed coronavirus lending schemes. On the three-month anniversary of the Bounce Back Loan Scheme (BBLS), the figures reveal that over 1.13 million small and micro businesses have now been backed by the…
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County Court Judgments (CCJs) registered against businesses England and Wales fell by nearly 30 percent in the first half of 2020 (H2 2020), compared to the same period in 2019, according to figures released by Registry Trust. The number of CCJs against businesses fell from 65,724 in HY1 2019 to 46,117 in HY1 2020. This…
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The total amount of debt registered against Scottish businesses in the first half of 2020 fell by 13 percent according to figures released by Registry Trust. The number of decrees against Scottish businesses also fell by 13 percent, from 1,140 to 990. The total value of decrees against businesses saw a large fall of 47…
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Credit Connect Media is set to launch a series of online digital discussion platforms focusing on technological and innovation developments and strategies within credit and collections Starting in August Credit Connect will launch its new 45 minutes news round-up series discussions with monthly guests analysing the industry developments in an ever-changing world. Titled ‘Connected News‘…
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The number of debt judgments against Northern Irish businesses fell by nearly 43 percent in the second half of 2020 compared to same period last year according to figures released by Registry Trust. The period also saw a large fall in the number and value of judgments against businesses in Northern Ireland from 615 to…
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