Credit, Collections & Insolvency News
In 2016, insurance company Zurich found that more than 53% of Britain’s small and medium sized businesses (SME) have issues with late payments with 41% of those experiencing serious cash flow problems as a result. According to Zurich’s SME risk index, £225bn is owned in late payments to British SMEs and two-thirds of UK SMEs agree that…
Read more
Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 02 ENVIRONMENTAL SURVEYS LTD 10100442 LTD 1ST ALERT STEEL LTD A.J.’S COSTCUTTER LTD ABI BUSINESS SERVICES LTD ABUILDERS LTD AGL AVIATION LTD AGNI WHOLESALE LTD AGP STEEL STRUCTURES LTD AIS (MARINE) 2 LTD ALE WEB LTD ALLANSONS LAW LTD ALTERDERMA…
Read more
Liquidation notices have been issued and advertised in the London Gazette for the following companies: 142 TRADING LTD 350Z LTD 4D LEISURE LTD (CANNOCK) LTD 4U NATIONWIDE LTD 505 ASSOCIATES LTD. 57A LOGISTICS LTD 8 MILE RECRUITMENT LTD A & C LANDSCAPES LTD ACTIVE AIR LLP A G T C BIO PRODUCTS LTD A STEP ABOVE…
Read moreAdministration notices have been issued and advertised in the London Gazette for the following companies: A&R HUGHES (ACADEMY GARAGE) LTD ABBOT GRANGE LTD AGE UK BLACKPOOL AND DISTRICT AGENCY COMMUNICATIONS LTD ASTON STUDENT VILLAGE BLUCARS (BUGBROOKE) LTD BLUE CUBE BUSINESS LTD BRAKEWORLD LTD BRW SERVICES LTD CARING FOR YOU PTS LTD CIRCLE OIL JERSEY LTD CITADEL…
Read moreThe advantages of the fall in the value of sterling post-Brexit may not be able to overcome the other strong headwinds the sector faces, resulting in 1,800 UK hotel companies having at least a 30% chance of going insolvent within the next three years according to Moore Stephens. While a weaker pound may encourage more…
Read more
Business failures across West Dunbartonshire have left a trail of debt. The council has written of £535,646 in unpaid business rates, the total amassed by firms across the area who have either dissolved or gone into liquidation Councillors on West Dunbartonshire Council’s corporate services committee agreed to write off the National Non Domestic Rates (NNDR),…
Read moreThe £15 million supplementary levy imposed on mortgage brokers by the FSCS will hit the best-qualified brokers hardest, says the National Association of Commercial Finance Brokers (NACFB). Rob Lankey, CEO of the NACFB, said “Of course we welcome any move that protects borrowers. The steps we’ve taken to embrace regulation have not been cost-free and our…
Read more
The number of debt decrees registered against Scottish businesses fell to the lowest recorded level during 2016, according to figures released today by Registry Trust. There were 3,523 business decrees in Scotland during 2016, 24 percent fewer than the previous year. The total value surged to £45.8m, the highest on record, but this was due to…
Read moreDespite over half (56%) of UK organisations being affected by fraud, confidence levels in fraud prevention techniques is remarkably high, reveals research from Callcredit Information Group. The Fraud & Risk report of 201 Fraud Prevention Managers and Directors, finds that a majority of businesses (75%) believe they are one step ahead of fraudsters, with a…
Read more
The number of debt judgments recorded in Ireland’s Four Courts fell to a historic low during 2016, according to figures released today by Registry Trust. There were 2,155 judgments registered against consumers in 2016, 38 percent fewer than the previous year and a record low. The total value of consumer debt judgments similarly fell to…
Read more
An overwhelming majority of industry experts believe the UK’s decision to leave the EU will lead to a rise in corporate insolvencies over the next year, according to a new study by R3. A survey of insolvency and restructuring firms also shows that 55 per cent believe their finances “have been hurt” since last June. Insolvency…
Read more
The Chartered Institute of Credit Management (CICM) and the Federation of Small Businesses (FSB) have launched a new guide to support small businesses in managing cash through Brexit. The guide is titled Managing Cash Through Brexit guide to highlight the basic principles of cashflow and credit management to help steer businesses through the current uncertainty. The guide…
Read moreUK business failures will rise by 5% in the next 12 months as the economic slowdown, rising input prices and increased late payment risks begin to take their toll, according to Euler Hermes. This is in sharp contrast with the rest of the continent, where insolvencies will fall by 4% in Western Europe and 1%…
Read more