Credit, Collections & Insolvency News
The global economy is forecast to recover almost fully from the pandemic-driven recession but there are major divergences in the pace of recovery across the world, according to a new report from trade credit insurer Atradius. The report reveals the emergence of several bright spots in the global economy as the world battles to overcome…
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Research commissioned by Vodafone has found that the equivalent of 1.3m small businesses would go bust if they were targeted by hackers, leading to calls for the Government to put more money into cyber defences. The report urged the Government to expand and to protect small and medium-sized businesses further by providing more support to…
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Record levels of smaller businesses sought external financial support in 2020, with further significant demand expected in 2021, British Business Bank research has found. The report highlights a surge in applications for external financial support, including government and local grants, among small and medium sized businesses (SMEs), with almost half (45%) of all SMEs surveyed…
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Businesses SME revenue is predicted to fall by 28 per cent in Q2, with almost three-quarters of SMEs expecting coronavirus to have a significant impact for the next three months according to Barclaycard Payments’ second SME Barometer. The research found that, despite UK businesses predicting poor short-term performance, and reporting a dip in sentiment compared to…
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In February the following administration notices have been issued and advertised in the London Gazette for the following companies: 07567003 LTD ASPIRE 4 TECHNOLOGY GROUP LTD BABBAGE CONSTRUCTION LTD BE LOGICAL UK LTD BEEGOOD ENTERPRISES LTD BIOTECHNICA SERVICES LTD BIRMINGHAM APEX HOUSE CENTRE LTD BOTTLING INTERNATIONAL LTD BOXCOM NETWORK SERVICES LTD BRAND HOUSE HOLDING LTD…
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In February, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1ST STEPS QUALITY & TRAINING LTD A G EDWARDS & SON DEMOLITIONS LTD ARCHITECTURAL CERAMICS LTD ASTONCOM LTD BELMONT TRADING UK LTD BLACKWOOD & SON LTD BOND STREET LINKS LTD BUILDTRUE (2008) LTD ELLIS WALLS AND…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in February: @SHANTERZ LTD 1 TRANSPORT SOLUTIONS LTD 126SKIN LTD 3000 PROPERTY SERVICES LTD 53035 LTD (FORMERLY PILLBOXCAPITAL 3 LTD) A & N ENIGMA ENGINEERING LTD A B PERFORMANCE LTD A PERFECT FLOOR (TW) LTD A.D.S…
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The Government has announced a new Covid-19 business loan scheme as part of its budget announcement. The new scheme called the Recovery Loans Scheme replaces the Bounce Back Loan and Coronavirus Business Interruption Loan Scheme, which have paid out nearly £73 billion to British businesses. The Recovery Loan Scheme will launch on 6th April 2021,…
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New research from Hitachi Capital Business Finance has revealed that 44% of UK small businesses are still concerned about the immediate impact Covid-19 pandemic. The concerns relate to restrictions on business, social distancing and working from home, whilst one in two (50%) are worried about the long-term impact the legacy of the pandemic could have…
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New figures released by the Insolvency Service indicate that £453.4 million was paid out in missing wages and benefits to workers at firms that went bust last year, the highest total in a decade. The money comes from the National Insurance Fund, going to former members of staff as a result of their employer entering…
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Nearly 12,000 licensed premises have closed in the UK since December 2019, at an average of around 30 per day, the highest rate on record according to new research released by CGA and AlixPartners. The figures indicate the full toll of pandemic and lockdowns on hospitality. While 4,170 new sites have been recorded since December…
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Peer to Peer lender, The House Crowd has entered administration. On 24th February, the Directors of The House Crowd, a regulated Peer-to Peer firm, placed the company into administration and appointed Frank Ofonagoro, Jeremy Woodside and Frank Wessely of Quantuma Advisory as joint administrators. The House Crowd, formed in 2012, operated a Peer to Peer…
Read moreNew HM Treasury figures have revealed that the banking and finance industry has approved another £2 billion of business loans over the past month, with the figure now rising to almost £73 billion to almost 1.6 million businesses so far through government-backed coronavirus lending schemes. Almost 29,500 Bounce Back Loans have been approved over the…
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