Credit, Collections & Insolvency News
Small businesses could be stung with £355 million of extra interest payments if rates rise by 0.25 percent, new research has claimed. The research by debt adviser Hadrian’s Wall Capital shows that SMEs would be liable for an extra £355 million in interest payments in the first year if rates increased by a quarter. If…
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As Brexit looms ahead, importers and consumers have been affected by raising input costs and a weaker pound. Euler Hermes forecasts an increase in insolvencies by 8% in the UK in 2018. The country is an exception in Western Europe where most countries should experience either a decrease or stabilisation in the number of insolvencies…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 19 THE MURRAY SQUARE LTD 1ST 4 CONSTRUCTION LTD 1ST STOP TICKETING LTD 3G TRANSPORT LTD 4D CONTRACT FLOORING LTD 5 EURO’S LTD A C CONSTRUCTION (ELLON) LTD A J BUILDERS (CONTRACTS) LTD ABODE (CLAPHAM) LTD ABSEC TECHNOLOGIES…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 04302886 LTD 06373349 LTD 102 (HALIFAX) LTD 109 (BRADFORD) LTD 147 HAVANA LTD 16S TECHNOLOGIES LTD 2C INSTALL LTD 2HG LTD 365 MANAGEMENT SERVICES LTD 3G CLEANING LTD 93LEISURE LTD A & J BUILDING AND ROOFING SERVICES…
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Fifty-five percent of UK SMEs are unable to access all funding needed to grow, and without the right knowledge or education on how to obtain it. Research from Liberis has found. Liberis report says that SMEs contribute more than £200bn a year; with this number expected to grow by almost 20% by 2025. The report…
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Trade credit insurance specialist Euler Hermes has warned that future export market may prove to be a bad debt risk after Brexit. The findings come from Euler Hermes annual Collection Complexity Scores and Rating report, which measures the challenges of international debt collection procedures in 50 of the largest economies involved in global trade. The report…
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New research by Moore Stephens has shown that restaurant insolvencies have risen by 20% in the past year. The research shows that restaurant businesses insolvency jumped 20% to 984 in the last year, up from 825 in the previous year*. The figures come on the back of one of Britain’s biggest sandwich chains, EAT, announcing this…
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9% of UK clothing retailers currently exhibit early warning signs that they are at risk of going insolvent according to latest research by Moore Stephens Out of 35,078 fashion retailers analysed, 6,580 are showing early signs of financial distress, which can include a large fall in revenue and poor payment history. Falling consumer spending and increased…
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It is estimated that there could be over £25 million worth of fraud being perpetuated by businesses falsely claiming Small Business Rates Relief across England, according to data analytics specialist Destin Solutions. Small Business Rates Relief (SBRR) is provided to a number of businesses across England on the basis that they either only use one property…
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Business finance company MarketInvoice has announced a partnership with credit trade specialist Euler Hermes. The agreement will see Euler Hermes provide credit insurance policies to customers of MarketInvoice in safeguarding their businesses. With Euler Hermes credit insurance, MarketInvoice customers who use invoice finance solutions will have the assurance that they are protected in the event…
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The Government’s focus on increasing tax through VAT is creating cash flow problems for businessesaccording to new research from Funding Options. Businesses are normally required to pay the VAT they owe once they invoice customers, rather than after they receive payment for their services. Corporation Tax, on the other hand, is only charged once a…
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Equifax has launched a new solution to support the government Commercial Credit Data Sharing (CCDS) initiative seeking to stimulate competition and encourage new entrants in SME lending, thereby addressing the shortfall in access to finance. The new Equifax solution gives lenders a comprehensive picture of a businesses’ financial health to facilitate faster and more informed…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09232408 LIMITED 1FILM UNIT LIMITED A & A TRANSPORT (CANNOCK) LIMITED A HAPPY CHEF LIMITED A LA CARTE MANAGEMENT LTD A S SITE PREPARATION LTD A.I.M.S SUPPORT SERVICES LIMITED AAC AIR CONDITIONING AND REFRIGERATION LTD ACCELERATE DIRECT LTD…
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