Credit, Collections & Insolvency News
Three water retailers in England have been scolded for their poor performance after water and sewerage complaints from business customers rose sharply for the second successive year. A new report by the Consumer Council for Water (CCWater) shows that many retailers have failed to stem the flow of complaints, which have risen rapidly since non-household…
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The Insolvency Practitioners Association (IPA), the membership body and regulator for those specialising in insolvency practice, has published its first formal strategy to deal with the requirements placed on the IPA as a Professional Body Supervisor (PBS) under the 2017 Money Laundering Regulation (MLR17). The strategy is an important part of the IPA’s work in…
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Anti-money laundering (AML) specialist SmartSearch have become the only online verification platform to offer business credit checks. SmartSearch is already the only organization in the UK with the ability to verify individuals and companies in the UK and internationally all in a single platform via a browser or API, with full Sanction, PEP and adverse…
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The majority of CFOs (65%) expect digital transformation to significantly reduce the number of jobs in the financial services industry, according to the results of the 2019 FinTech Barometer, an annual survey conducted by order-to-cash specialist Onguard. CFOs are also concerned about their own job security. In fact, 38% of them believe their job will no longer exist…
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The number of business failures in 2018 in the Scottish construction sector was the highest annual figure since 2014 and this year looks on target for a similar number according to new analysis of the sector by leading accountants and business advisers French Duncan LLP. In 2018 202 businesses in the construction sector went through…
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A new report from Dun & Bradstreet reveals businesses are missing revenue opportunities and losing customers due to bad data practices. Almost 20 percent of businesses have lost a customer due to using incomplete or inaccurate information about them, with a further 15 percent saying they failed to sign a new contract with a customer…
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British businesses could have £593 billion locked up in excess working capital, potentially hampering growth and leaving them exposed to economic uncertainty, according to new research from Lloyds Bank Commercial Banking. The Lloyds Bank Working Capital Index combines the bank’s proprietary research and IHS Markit’s UK Purchasing Managers’ Index (PMI) data to calculate the working…
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There are likely to be many more Company Voluntary Arrangements (CVAs) for retailers following the recent agreement for the Arcadia group as the sector’s problems continue according to a leading insolvency practitioner. Eileen Blackburn, head of Restructuring and Debt Advisory at French Duncan LLP, said that the issues which led to the Arcadia CVA persist…
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Company boards will now be held accountable for payment practices to small businesses within their companies in a drive to increase transparency and accountability on late payments. Measures will force Audit Committees to report payment practices in company annual reports. The government will consult on strengthening the powers of the Small Business Commissioner to hold…
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Half of Irish firms polled (50%) do not negotiate payment terms – the highest among all European countries polled, where the average is 21% whilst companies around Europe predict increased bad debt losses, later B2B payments and higher debt risks are ahead. The findings are part of a European Payment Report from pan-European credit management…
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In May, the following administration notices have been issued and advertised in the London Gazette for the following companies: ABERDEEN BERRY STREET CENTRE LTD AIM CONSTRUCTION & DEVELOPMENT LTD ALFA PRECISION AND GENERAL ENGINEERING COMPANY LTD ALTURA 10 SCAFFOLDING LTD AM 2 PM RETAIL SERVICES LTD APPPAY UMBRELLA LTD AQUA ITALIA LTD ARBORETUM DEVON (RLH)…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 09448230 LTD 10299840 LTD 24/7 PROFESSIONAL LOCKSMITHS LTD 3LIONS (LEICESTER) LTD 52 MARKETPLACE LTD 53-55 CARTER LANE LTD 7 ATE 6 LTD A & F CATERING SPECIALISTS LTD A C DISPATCH LTD A E INSULATION LTD A…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 15 GREENWOOD PARK LTD 1ST CHOICE CAKES LTD 1ST LINE FINANCIAL LTD 30 HARLEY HOUSE LTD A A HOMES & HOUSING LTD A TO Z SCENERY LTD A.G. AXTON & SONS (WHOLESALE) LTD AA BUILDING SOLUTIONS LTD ABBOTSGATE…
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