Credit, Collections & Insolvency News
Euler Hermes publishes its annual review and forecast of global average Days Sales Outstanding (DSO), based on a sample of 20 sectors and 36 countries. According to the 2017 figures, DSO reached its highest level since 2007 at 66 days. This trend is expected to continue in 2018 with global average DSO to rise by…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 21ST CENTURY ECO-HOMES LTD 321 TRAVEL LTD 3RD POINT THINKING LTD A S ELECTRICAL SERVICES (SOUTHERN) LTD A. G. AXTON & SONS (WHOLESALE) LTD ABACUS WILLS & TRUSTS LTD ABD CORPORATE SERVICES LTD ACCH (HENDON) LTD ACQUISITION 395448472…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 171 (RETAIL) LTD 208 LTD 21ST TELECOMS LTD 24 7 DISTRIBUTION SPECIALISTS LTD 24HR MANAGEMENT SVS LTD 25/4 2M MEDICAL SERVICES LTD 3 – FIVE – 8 LTD 3 WOOD (UK) LTD 3V LEISURE LTD 427 MOTOR…
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Credit insurer, Allianz Group has completed the last steps to become the sole owner of Euler Hermes. Following the completion of the simplified tender offer the legal conditions were met and Allianz has implemented a squeeze-out on the remaining shares of Euler Hermes it did not hold yet, followed by the delisting from Euronext Paris…
Read moreHalf of the small businesses in the UK are currently operating in the red, according to the latest Small Business Insights published by Xero. According to new data, only 49.5 percent of businesses were operating in positive cash flow last year. Despite the various government initiatives that have been attempted, the UK’s biggest firms are still…
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The Government has announced measures to crack down on the abuse of a specialised financial arrangement to launder dirty foreign money through the UK. Scottish Limited Partnerships (SLPs) and Limited Partnerships (LPs) are used by thousands of legitimate British businesses, particularly the private equity and pensions industry, to invest more than £30 billion a year…
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The Insolvency Service has released the latest numbers business insolvency in Quarter 1 (January to March 2018). The figures indicate that an underlying number of insolvencies (excluding bulk insolvencies) increased to the highest quarterly level since Q1 2014. This was driven by a rise in underlying creditors’ voluntary liquidations and compulsory liquidations. Duncan Swift, vice-president of…
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UK businesses saw a 27 percent surge in the number of adverse debt judgments last year, according to national statistics issued by TrustOnline. Over the same period, the number of online searches by people checking judgment status grew by ten percent. During 2017, 109,000 judgments were registered against businesses in England, Wales, Scotland and Northern Ireland,…
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Accountant in Bankruptcy (AiB) has released official statistics reporting company insolvencies in Scotland for the fourth quarter (January to March 2018) of 2017-18. Corporate insolvencies increased from 846 in 2016-17 to 886 in 2017-18. The number of corporate insolvencies in Scotland rose by 28% in Q4 2017-18 (January-March 2018) compared with Q3 2017-18 (October-December 2017),…
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Latest figures from research by RSM have suggested that 81 percent of middle market businesses are vulnerable to money laundering and bribery. The findings according to the latest YouGov survey, commissioned RSM in a survey of more than 300 UK middle market business leaders, also revealed that 31 percent of firms have suffered, unwittingly or…
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The number of failures within the UK’s construction sector increased by 73.3% in Q1 2018 according to new figures from Creditsafe. The quarter kicked off with unexpected collapse of Carillion, which left thousands of suppliers unpaid and countless employees without work. The impact was clearly felt in the construction industry as four of the top…
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The Federation of Small Businesses (FSB) is urging the Financial Conduct Authority (FCA) to provide more protection for small business owners who use personal assets as collateral for commercial loans. At present only the smallest firms can currently make a complaint to the Financial Ombudsman (FOS). The FCA is proposing to widen the definition of…
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Credit managers, those who keep the cash flowing in business, are untroubled by Brexit, unimpressed by new regulation, and keen to see how new technology can enhance performance in the future. They are also valued by the companies who employ them, and actively involved in the performance and success of the businesses they represent. These…
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