Credit, Collections & Insolvency News
Business Energy specialist, PCMG has seen UK companies spending up to seven-figure sums on TNUoS charges, which have gone up by around 160% since 2010. Transmission Network Use of System charges cover the cost of transporting electricity long distances from power stations to regional networks. They make up approximately 6% of the total energy bill…
Read moreThe number of debt decrees registered against businesses in Scotland fell during the third quarter of the year, according to figures released today by Registry Trust. There were 561 decrees against all businesses in the third quarter 2017, down 43 percent compared with the same quarter a year ago. The total value of all business…
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Small European businesses based in the UK pay their invoices more than two days faster than their British counterpart according to research by Opal Transfer. The research shows EU businesses based in the UK, are 9% quicker to pay invoices than British owned business. EU firms based in the UK take 18.4 days on average…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: A & N PENNINGTON (MANCHESTER) LTD A.JÆS AUTO SERVICES LTD ABB TRADING LTD ACCESSDATA CORPORATION LTD ACE ARC LTD ADVANCED CLIMATE CONTROL LTD ADVICE 4 BUSINESS (UK) LTD ALEXANDER LUCEY LTD ALLSURE LTD T/A CHASE ALEXANDER ALLWOOD INTERIORS LTD AMAVI LTD…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 12 PROPERTY RENTALS LTD 15 GREENWOOD PARK LTD 2028 X LTD A & D TRANSPORT LTD A C MORRIS BUILDERS LTD A STAR DRIVERS LTD ACORNFORD ESTATES (NORTHERN) LTD ACURATE SECURITY SERVICES LTD ADD A ROOM LOFTS LTD…
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20% of restaurant businesses in the UK currently exhibit warning signs that they are at risk of going insolvent according to new research by Moore Stephens. The research shows that 14,800 restaurants are faced with the threat of going under as Brexit and rising labour costs put a strain on the industry. Since the Brexit…
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The latest results Insolvency statistics from The Insolvency Service for Quarter July to September 2017 (Quarter 3 2017) indicate that total company insolvencies decreased compared with the unusually high level in the previous quarter when a large number of connected personal service companies entered liquidation. When the statistics are compared with last quarter’s underlying numbers,…
Read moreAs speculation grows that the Bank of England Policy Committee (MPC) will increase interest rates at its next meeting in November, the ICAEW is advising businesses to be prepared following over 8 years of historically low rates of 0.5% and, since the Brexit vote, 0.25%. Matthew Rideout, ICAEW Director of Business, said: “Many businesses have…
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The number of Scottish business facing liquation has declined by 23% over the three months leading up to September, according to new research from KPMG. In the year leading up to September 2017, there were 802 insolvency appointments, a drop from 1040 in the previous year. Between June 2016 and June 2017, there was also…
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Fewer UK companies are reporting signs of growth, and more firms say they have recently experienced at least one sign of distress, according to new research by insolvency and restructuring trade body R3. The research, part of a long-running survey of business distress by R3 and BDRC Continental, found that the number of companies reporting…
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Peer to peer lender RateSetter and information services company Experian have announced a new partnership which aims to help RateSetter make good credit decisions as it grows its commercial finance operation. RateSetter investors have lent more than £2 billion to a diverse range of individuals and businesses across the UK since the platform launched in…
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The Office for National Statics (ONS) has reported that fraud crime in England and Wales has hit 3.3million in its latest statistical bulletin. Responding to the reportt John Cannon, Commercial Director Fraud & ID, Callcredit Information Group, said: “Today’s ONS statistics, reveal that there were 3.3 million incidents of fraud in England and Wales alone, and over half…
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Credit insurer, Atradius latest report has indicated that nine out of ten suppliers surveyed in Asia Pacific experienced late payment of invoices from their B2B customers over the past year. To protect their businesses from late payments, 33.3% of the suppliers surveyed reported having taken specific measures to correct cash flow. Despite the ongoing deceleration…
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