Credit, Collections & Insolvency News
Arron 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…
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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…
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Research by Ferguson Litigation Funding (FLF), has found that, 18-months after the removal of the exemption from the Legal Aid. Sentencing and Punishment of Offenders Act 2012 (LASPO), 93% of Insolvency Practitioners say they are more likely to seek third party litigation funding, as supported by the Statements of Insolvency Practitioners (SIP) 2 para 11. However, 75%…
Read moreThe Insolvency Practitioners Association (IPA) has announced that Liz Bingham OBE has agreed to join the Association’s team to assist Council and support the CEO, management team and staff. Bingham’s role will be in part ambassadorial, and in part focused on helping the IPA with its own strategic review and implementation of its IIP standards. Bingham’smost…
Read moreLiquidation 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…
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Northern Ireland’s manufacturing sector has the lowest rate of firms at a higher than normal risk of insolvency of anywhere in the UK, according to the latest research by R3. In August less than one in five (19 per cent) of the North’s manufacturing businesses were considered at higher than normal risk of becoming insolvent…
Read moreFerguson Litigation Funding (FLF) has announced that is has hired business development and client care specialist Paul Cooklin, joining from litigation funder Manolete Partners, where he was chief operating officer. Cooklin has worked in the legal profession since 1984 and has extensive knowledge of the domestic and international commercial and business law sector. Cooklin joins from litigation…
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Shire Leasing has announced that it has surpassed £100 million in own book lending. The news comes only 5 months after it secured a further £37.4m facility under the government-backed British Business Bank’s ENABLE Funding programme, in place to help it increase funding to smaller businesses. Mark Picken, Shire’s Managing Director, said “The £100 million figure is…
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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…
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The Bank of England latest statistics showed a £200 million decrease in loans to smaller businesses during July. Mike Cherry, Federation of Small Businesses (FSB) National Chairman, said “Small businesses appetite for new finance is waning against a backdrop of unprecedented uncertainty, anaemic domestic growth and inflationary pressure weighing on consumer demand. Investment intentions are not where they should be…
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European conference, LendIt Europe has announced a unique partnership with SeedInvest, a leading equity crowdfunding platform, to enable delegate investment live from the conference floor at this year’s event. The live fundraising feature, which will be an industry first in Europe, will allow eight of the PitchIt finalists to raise money immediately at the event…
Read moreThe 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…
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Redwood Bank, a new business bank for SMEs, has announced that just over four months after securing its initial banking licence, it has completed its “mobilisation” phase and has now opened for business, offering secured SME mortgages for business owners, as well as for experienced commercial and residential property investors. It has also launched a…
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