Credit, Collections & Insolvency News
Nine out of 10 business owners across construction suffer a range of mental health issues due to payment and other business pressures, according to a survey run by leading engineering services trade bodies BESA and ECA. The new survey, conducted in association with 25 other construction trade bodies, found that business owners have an array…
Read more
Declining turnover is often identified as the initial sign of corporate distress, but a new study from Euler Hermes shows it is not as reliable as it seems. Euler Hermes’ study highlights three other indicators that can provide warning signs up to four years before an acute insolvency risk for European small and medium enterprises (SMEs)…
Read more
New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in September, compared with the same month in 2018. In Q3 2019 as a whole, new business was also 5% higher than in the same quarter in 2018. New finance for…
Read more
A new report by trade credit insurer Atradius has revealed the top trading risks within Eastern Europe’s major markets. The report reveals that despite the end of a technical recession in Turkey, economic growth is forecast to level off this year (0.1%) and a 10% increase in business insolvencies is expected. Payment delays and default risks…
Read more
Almost two-thirds (64%) of CFOs expect that within the next five years the financial world will no longer be able to operate without big data, however, 13% of CFOs think this is already the case. Currently, financial directors are mainly using big data to make well-informed decisions (54%), to make predictive analyses (41%) and to…
Read more
Twenty firms – including IBM and Unilever – have been suspended from the Prompt Payment Code for failing to pay suppliers on time, the Chartered Institute of Credit Management (CICM) have announced. Diageo, GlaxoSmithKline and Kier businesses are also among those that have failed to honour their Code commitment to pay 95% of all supplier…
Read more
In October, the following administration notices have been issued and advertised in the London Gazette for the following companies: A.G. MAJOR. ENGINEERING SOLUTIONS LTD AAA LINEN LTD ANDREW JAMES UK LTD ASPENLINK LTD ASTONBROOK CARE HOLDINGS LTD AXA BUILD & MAINTENANCE LTD BARNSLEY BODY SHOP LTD BARRY WOOD PLANT HIRE LTD BATH & WEST DEVELOPMENTS…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in October: 07435922 LTD 4-INTERIOR LTD A & B RICKERBY LLP A G HALL LTD A II D SOLUTIONS LTD A.R. TRADING SOLUTIONS LTD ACM SURVEYS LTD ACQUISITION 395445638 LTD AFFINITY ESTATE AGENTS LTD AGENTIS SOLUTIONS…
Read more
In October, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 05225677 LTD 3T PROJECTS & DEVELOPMENTS LTD A A A SELF STORE LTD A P BUILDING SERVICES (UK) LTD A S ROOFING (SOUTH EAST) LTD A.R. COMPANY (MANCHESTER) LTD ABS GROUP SOUTH LTD ADEPT AGENCY LTD…
Read more
Northern Ireland’s latest Insolvency figures show that there has been a 21.5 percent increase in the number of company insolvencies in the last three months. Company insolvencies in Northern Ireland rose by more than a fifth over the last quarter with 79 firms becoming insolvent from July to September period, according to Insolvency Service figures.…
Read more
New data published analysis shows that there has been no let-up in the number of retail businesses entering insolvency, with 1,252 insolvencies in the sector in the last year, up from 1,232 the year before says RPC, the City-headquartered law firm. Insolvencies in the sector have hit a five-year high and are 31% higher than…
Read more
The Treasury Committee has published a unanimously-agreed report on the Impact of Business Rates on Business. The Government must explain whether it is deliberate that, since Business Rates were introduced in their current form in 1990, the revenue they have generated has outpaced inflation. Throughout this inquiry, the Committee has been told that Business Rates…
Read more
Sales on credit are on the up despite the prevailing economic challenges as UK businesses strive to appear more attractive to potential customers, reveals the latest economic report by trade credit insurer Atradius. The Western Europe Payment Practices Barometer research report by Atradius found offering credit was being used by UK firms as a tool…
Read more