Credit, Collections & Insolvency News
2016 showed a continued decline of 6% in the number of company insolvencies in the Central and Eastern European (CEEE) region, following a fall of 14% in 2015 according to new reseach by Coface. In all, over the course of last year, six entities per 1,000 became insolvent. This improvement was in line with the…
Read moreBNP Paribas Leasing Solutions has appointed Morgan Vessier as new Head of Risk. Vessier, who joined the BNP Paribas Group in 2005, has worked across several key business units, including BNP Paribas Personal Finance, where he served as the Head of Center for Scoring, and the Turkish Economic Bank (TEB), where he acted as Director…
Read moreArron Kendall and Simon Thomas, Partners at Moorfields Advisory have been appointed joint administrators of the UK arm of upmarket women’s fashion brand Basler. Basler UK is a subsidiary of the long-established Basler Fashion Group GmbH, which is headquartered in Goldbach, Germany, and also operates in the United States, Australia and throughout Europe. Since May…
Read more
Andrew Duncan and Alex Cadwallader, Directors at Leonard Curtis have been appointed joint administrators to cake makers More Food. Chichester-based More Food specialised in the creation and supply of handmade cakes and tray bakes to a wide range of customers, including local bakeries, major retailers, such as Budgens and Waitrose as well as international sandwich shop…
Read more
Liquidation notices have been issued and advertised in the London Gazette for the following companies: 122 LEADENHALL STREET LTD 19 GALE UK LTD 1ST FIX MACHINE SOLUTIONS LTD 888 CHINESE RESTAURANT LTD A & K GLAZING (UK) LTD A CAREY ENGINEERING SERVICES LTD A M WICKHAM LTD A MUM&DAD CO. LTD A RUSHTON JOINERY LTD A…
Read more
Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 4WORLD DESIGNS LTD A & D TRANSPORT LTD ACCOUNT CONTRACTORS LTD ACKROYD STREET WORKING MENS CLUB AGM DEVELOPMENTS (CARLIOL) LTD AGRA LTD AKA CONSTRUCTION LTD ALAN EDWARDS LLP ALLAN LORD ELECTRICAL LTD ALLECO LTD ANZ GENERAL SERVICES LTD…
Read more
The amount of tax HMRC suspects may have been underpaid by big businesses has increased to £24.8bn, a 13% rise on the previous year following a widening of the scope of investigations, according to analysis by law firm Pinsent Masons. Pinsent Masons says that the amount of tax that HMRC’s large business directorate believes is…
Read more
The Government has announced changes to corporate governance. Commenting on the announcement Mike Cherry, the Federation of Small Businesses National Chairman, said: “Poor payments culture in the UK has grown into an epidemic, with research showing that a third of payments to small businesses are late. These practices are immoral, with the largest businesses using their dominant position to…
Read more
Late payments remain a persistent issue globally nearly a decade past the 2008 crisis, but the long-term outlook is optimistic. A 3% improvement in the cash-to-cash cycle of UK companies has released £8.8bn previously tied up in working capital, according to Grant Thornton’s latest UK Working Capital Survey. Individual businesses, not just the economy benefit…
Read moreResponding to the Government release of its plans for a shared approach to data protection, Mike Cherry, National Chairman at the Federation of Small Businesses (FSB), said “Research from FSB shows that data protection is definitely on the minds of small business owners, with almost 60 per cent of members ranking data protection laws as a significant…
Read more
Fraud prevention service, Cifas has released new figures showing that identity fraud has continued to rise at record levels in the first six months of 2017. A record 89,000 identity frauds were recorded, up 5% from last year. Representing over half of all fraud recorded by the UK’s not-for-profit fraud data sharing organisation, 83% of…
Read more
Siemens Financial Services (SFS) has appointed Julian Hobbs as Chief Executive Officer of the Commercial Finance division. Hobbs joined the SFS Commercial Finance business in December 2010, following previous sales and risk roles in the asset and receivables financing industries, more latterly as Managing Director of Deutsche Leasing’s operations in the United Kingdom and Ireland.…
Read more
Manufacturing continues as the principle driving force behind business confidence in the UK, according to the latest results (Q2 2017) from the UK’s Credit Managers’ Index (CMI), the quarterly barometer from the Chartered Institute of Credit Management (CICM). The 1.3-point rise experienced in manufacturing sees the Index close at 64.0, another all-time CMI high. The…
Read more