Credit, Collections & Insolvency News
The number of retailers entering into administration in 2018 was 125 – compared to 118 in 2017, a marginal increase of 6% according to Deloitte’s latest insolvency figures. In addition, the number of retailers entering into Company Voluntary Arrangements (CVAs) increased by 52%, from 25 in 2017 to 38 in 2018. Deloitte’s research shows the…
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The UK Small Business Commissioner, Paul Uppal is to recommend a traffic light warning system, which will allow small businesses to easily identify large businesses that pay late. New public data analysed for the first time by Lloyds Bank Commercial Banking in partnership with the Small Business Commissioner, analysed official payment reporting returns based on…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 4SQUARE CLOTHING LTD 60-61 EVERSFIELD PLACE LLP A-Z ACCESSORIES LTD A.M.I.SYSTEMS LTD A1 PLASTICS WINDOWS AND DOORS LTD ABBEY GATE ELECTRICAL LTD ACCALAIDE LTD ACE-BEV LTD ACTIVE LIFE GROUP LTD ACTIVE STORAGE TYSELEY LTD AGE GRACEFULLY LTD AH…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 0XDEADFA11 LTD 1ST CHOICE IMPROVEMENTS LTD 20/20 CMT LTD 33 LEISURE LTD 360 STUDIOS, LTD 3B LOGISTICS LTD 404 ENTERPRISES LTD 42ND STREET GRILL LTD 777 SOLUTIONS LTD 777 STORES (WEST EALING) LTD 777 STORES LTD A…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 06132417 LTD ACADEMY CLASS LTD ACCURATE LASER CUTTING (LEEDS) LTD ADVENTURES IN FURNITURE LTD AIR AND CARGO SERVICES LTD ALCHEMY FACILITIES LTD ALMTONE LTD AMICUS FINANCE PLC ANOTHERDATE LTD ATLANTIS ENTERPRISES LTD AVIDEAN LTD BADDOW HOSPITAL COMPANY LTD BARNSDALE HILLS LTD…
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Amicus Finance has announced on its website that it has entered administration. A site statement said ” On December 20th, 2018, Mark Robert Fry, Jamie Taylor and Kirstie Jane Provan were appointed Joint Administrators of Amicus Finance plc (In Administration),(the Company). The Joint Administrators act as agent of the Company and without liability. The news…
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Over one in ten (11%) UK companies is just paying the interest on its debts, rather than repaying the debt itself, according to new research from insolvency and restructuring trade body R3. Only being able to pay the interest, not the original debt itself, is one potential sign of a so-called ‘zombie business’ – a…
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Insolvency specialist, Begbies Traynor, expects corporate failures to continue rising next year, as continuing Brexit uncertainty and the tough high street climate take their toll. Begbies Traynor’s made the prediction as part of their latest results announcement which indicates that profits and revenues were up in the six months to October on the back of…
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Analysis from Equiniti, the FTSE-listed share services and fintech business, of UK Finance statistics shows that continued Brexit uncertainty is having the biggest impact on the smallest businesses in relation to asset based lending and invoice finance borrowing. The figures show that total advances to businesses with a turnover of less than £1 million a…
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Data from the winners and finalists of the second annual Credit & Collections Technology have been collated and are now available as part of a report reviewing the 2018 event. The Awards report highlights the unique and transparent ethos of the scheme by providing graphs, statistics and judges comments which highlight the results. The Awards event,…
Read moreAccountancy firm Wylie & Bisset, has said that the reintroduction of preferred creditor status for HMRC in insolvencies is a regressive ‘stealth tax’ that will ultimately be paid for by SMEs and is simply another way of raising revenue for the government. Preferred creditor status for HMRC was withdrawn in 2003 as part of the…
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New research released by Nucleus Commercial Finance has revealed that 74% of UK SME leaders are fearful about what 2019 holds. The majority of SME leaders have concerns about the impact one or more external factors will have on their business. Brexit leads the way (27%) and is closely followed by: The sudden loss of…
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Accountancy firm Moore Stephens says in 2017/18 there were 1,219 restaurant insolvencies, up 24% on the year before and nearly double the rate seen in 2010/11. Higher demand for ready-to-eat delivered food means that the marker is growing ten times faster than dine-out. Due to this, the UK restaurant sector is facing major disruption according…
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