Credit, Collections & Insolvency News
The UK is facing a two-year recovery, according to 61% of business leaders according to new research analysis by Kroll. The survey found that business leaders believe that it will take longer than the government predicts for the UK to get out of lockdown and the economy to bounce back to its pre-pandemic level. The…
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Britain’s financial firms and regulators should step up the use of technology to cut the cost of compliance and make the City of London more globally competitive, according to a new report. The report from the corporation that runs London’s ‘Square Mile financial district called for the removal of barriers to engineering a ‘paradigm shift’…
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Financial services (FS) companies are seeing confidence in the economy surge at the fastest pace in more than seven years, according to a report from the CBI. The analysis shows that optimism rose at the fastest rate since December 2013 in March. A net balance of 52% of respondents said that they felt confident about…
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Latest figures from the Insolvency Service have indicated a 44% rise in business insolvency rates across England & Wales. Business insolvencies in England increased by 44.8% to 992 in March 2021 compared to February’s figure of 685 and were 19.7% lower than March 2020’s figure of 1,236. The number of business insolvencies in March 2021…
Read moreLatest figures released by the Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies continued to remain low in March 2021. The number of corporate insolvencies (liquidations and receiverships) in Scotland fell by 31% in January-March 2021 compared with October-December 2020, and fell by 63% compared with January-March 2020. In March 2021 there were…
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Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies continue to remain low in comparison to previous years. In March 2021 there were 184 personal insolvencies in Northern Ireland, this was 82% higher than March 2020 but 19% lower than March 2019; this consisted of 140 IVAs, 36 DROs and 8…
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New research commissioned by commercial data and analytics provider Dun & Bradstreet has found 45% of 250 UK-based CFOs and finance leaders surveyed are embracing new technologies to increase efficiencies and 43% plan on improving their data quality as they look to increase their ability to manage disruption in 2021. The survey focused on strategies…
Read moreIn February the following administration notices have been issued and advertised in the London Gazette for the following companies: 03597107 LTD 111 INVEST LTD AGLE ROOFING (UK) LTD BAM PROPCO LTD and other companies BAXTER HOARE TRAVEL LTD BEERONOMY (BAR) LTD BLACK COUNTRY ROCK LTD BRADBURY’S OF EXETER LTD BRADSHAW LEGAL LTD BROAD BEAN EVENTS…
Read moreIn March, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 11712283 LTD 3G TELEKOM LTD 6T9 LTD BALGOWNIE WHOLESALE DISTRIBUTION SERVICES LTD BARDEN GLOBAL LTD BIOSYSTEM LABORATORIES LTD BRIOCHE DOREE LTD BUCKSTONE ROOFING (SCOTLAND) LTD DB SCOT LTD DS BUILDING SUPPLIES LTD DWD CONTRACTING LTD ELDUFGAR…
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Deloitte’s latest CFO Survey has reported a record level of business optimism amongst the UK’s finance leaders. with CFOs anticipate a strong recovery in profits over the next twelve months,. Profit expectations are expected to be back to the previous high seen in mid-2014 at the top of the economic cycle. A brighter backdrop has…
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A survey of over 1,500 firms by the Federation of Small Businesses (FSB) found that confidence was at its highest since 2014 with 51% expecting their revenues to grow over the next three months, the highest proportion since the summer of 2015. Only 24% expected sales to fall. Close to two thirds (58%) of small…
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New research by Hitachi Capital Business Finance has found that small business growth forecasts have returned to pre-Covid levels – with London, the South East and Yorkshire driving resurgent small business confidence for the next three months. The research is part of the findings from the company’s quarterly Business Barometer which also revealed that the…
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As businesses reopen their doors today (Monday 12th April), research from Nucleus Commercial Finance has revealed that a quarter (25%) of SME leaders feel optimistic about reopening and a similar amount (24%) feel motivated. Nucleus says that driving this wave of optimism is the chance to reconnect with customers for a third (32%), a similar…
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