Credit, Collections & Insolvency News
Businesses across the UK are recognising the need to ‘future-proof’ by seeking support and advice to build their business resilience and guard against unforeseen challenges, according to new research from leading SME funding partner Ultimate Finance, which found that more than half (58%) of SMEs have invested in resilience in some form over the last…
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There was an almost 30 percent increase in the number of adverse county court judgments against incorporated businesses in England and Wales in 2018, according to figures released by Registry Trust. The number of CCJs against incorporated businesses was up by 27 percent at 93,534, though this was counterbalanced by a fall in judgments against…
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Ahead of the Spring Statement next month, the Federation of Small Businesses (FSB) has announced a ‘Fair Pay, Fair Play ‘ campaign as it calls on Government to enlist the help of Non-Executive Directors to help strengthen payment enforcement and adopt Project Bank Accounts in public procurement, as three key reforms that will help end the…
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Lenders could find it much harder to enforce cross border debts in the event of a no deal Brexit, RSM has warned. Currently, European regulations facilitate the collection of cross border debts within the EU, notably through the use of European Enforcement Orders. These allow a judgment in one member state to be enforced in…
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Net lending to SMEs shrank to £500m last year, compared with £700m in 2017, according to a new report by the British Business Bank. The study also reveals a dramatic slowdown in the growth of alternative forms of funding, including peer-to-peer lending and asset finance. Lending through peer-to-peer platforms rose by 18% last year, compared…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew in December by 7% compared with the same month in 2017, and by 5% in Q4 2018 as a whole. The plant and machinery finance and commercial vehicle finance sectors reported new business…
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The number of restaurants in Scotland going insolvent last year increased by 86.3% according to new analysis of the sector by accountants and business advisers firm French Duncan. The firm has analysed official Insolvency Service statistics and found that annual restaurant failures increased from 73 in 2017 to 136 in 2018 which is equivalent to…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 247 LOGISTICS LTD 2M PRINT LTD 4SPORTS & ENTERTAINMENT UK LTD 7DIGITAL TRADING LTD 88 75 LTD A D REMOVALS (WIGAN) LTD A. LYTHE BUTCHERS LTD ABBEY CONSTRUCTION DESIGN & BUILD LTD ABC LEGAL LTD ACCESS CORPORATE LTD…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 10 DESIGN AND CONSTRUCTION LTD 10ACIA RIBCHESTER LTD 1990LONDON LTD 2 D SIGN INSTALLATION LTD 3 E SOLUTIONS LTD 3RD I CCTV LTD 53/39 LTD 5TH GENERATION LTD 888 ACCESS CONSULTANTS LTD 99 LTD EDITIONS (ALSO TRADING…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 6TH GEAR EXPERIENCE LTD AL UMMAH LTD ALUMINIUM R.W. SUPPLIES LTD AMSPHERE LTD APPLE PANELS LTD APPLEGARTH DENE LTD ARDOR BIOMASS LTD ARDOR ENERGY HOLDINGS LTD ARJO WIGGINS FINE PAPERS LTD ARJOBEX LTD ARJOWIGGINS CHARTHAM LTD ARJOWIGGINS SOURCING LTD AW UK…
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Workplace pressure is a major contributing factor to mental health issues among business leaders, according to a new survey from the Institute of Directors, published on Time to Talk Day 2019. Among the 500 directors and managers polled, more than half said they had experienced poor mental health that was in part connected to factors…
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The total number of judgments in 2018 against Irish businesses is at a record low, with business debt down 15 percent on last year. For the seventh consecutive year, the number of business judgments issued declined; 575 judgments were registered in 2018, a record low. Compared to 2017, the total value of business judgments fell…
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The total value of decrees against Scottish businesses rose in 2018 compared to the previous year. But the total value of decrees against companies – the generally larger incorporated businesses – dropped to the lowest annual figure on record, according to figures released by Registry Trust. There were 3,057 decrees issued against businesses in Scotland during…
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