Credit, Collections & Insolvency News
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in April: 09 ONLINE DEALZ LTD 1CALLDRAINAGE LTD 2020 GROUP CONSTRUCTION LTD 22 PARK ROAD LTD 30SIX TRADER LTD 5 POINTZ LTD 50BEAS LTD 7 OAKS HOTEL LLP A & A ROOFING & BUILDING MAINTENANCE LTD…
Read more
In April, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 08936190 LTD 24 INTERTRADE LTD A HERITAGE WINDOW CO. LTD AAC AIR CONDITIONING LTD AMFI LOGISTICS LTD AMMA CONVENIENCE STORE LTD ASHTON MAPLETREE LTD ASTRA RECRUITMENT SOLUTIONS LTD AUTOMART DIRECT LTD B S & N K…
Read more
Profit warnings issued by UK-listed businesses reached a record-breaking high in the first three months of 2020 – higher than any previous quarter in the last twenty years with a significant increase in insolvencies predicted when the lockdown end according to EY’s latest Profit Warnings report. 301 profit warnings were recorded by EY between 1…
Read more
The coronavirus lockdown is causing lasting changes to the way UK companies operate, new figures from the Institute of Directors suggest. In a survey of hundreds of business leaders, four out of ten said their organisation had made adjustments that they intend to keep in place after lockdown. Increased working from home and a greater…
Read moreLatest Insolvency Service figures have indicated that the construction remains the industry grouping with the highest number of insolvencies in the twelve months ending Q1 2020. The highest number of new underlying company insolvencies was in the construction industry with 3,077 insolvencies; followed by the wholesale and retail trade, repair of vehicles industrial grouping with…
Read more
The Insolvency Service has published the latest company insolvency figure for England & Wales which indicates that the total numbers of company insolvencies in Q1 2020 decreased, when compared with the previous quarter and the same quarter in the previous year (Q1 2019). The figures largely pre-date the Government lockdown and wider impact of the…
Read more
New Analysis by UK Finance has shown that the value of emergency Coronavirus Business Interruption Loan Scheme (CBILS), to small businesses rose 46% to £4.1billion last week. Although it has been reported that the number of approvals slowed. Over £1.33 billion of loans have been approved in the week from 21 April to 28 April…
Read more
The latest figures from the Insolvency Service have shown that total insolvencies increased in Northern Ireland in Q1 2020. There were 83 company insolvencies in Northern Ireland in Q1 2020, this is 26% higher than the same quarter in 2019. Of these, 51 were compulsory liquidations and 20 were CVLs. There were also seven CVAs,…
Read more
Latest figures from Accountant in Bankruptcy, Scotland’s Insolvency Service have indicated that company insolvencies decreased in Scotland in Q1 2020 There were 235 total insolvencies in Scotland, a fall of 14.5% from the same quarter of 2019. This comprised of 137 compulsory liquidations, 77 CVLs, 20 administrations, one company voluntary arrangement and no receiverships. The…
Read more
The proportion of UK small businesses predicting growth has plummeted from 39% to just 14% in the last three months – with 31% of business owners scaling back their businesses and 30% saying they will struggle to survive between now and the end of June. The findings form part of a quarterly tracking study of…
Read more
A new industry report conducted by the Horticultural Trades Association (HTA) has revealed that the government’s current proposed aid package does not work for the horticultural industry and that a third of UK growers claim they will be insolvent by the end of June because of the impact of coronavirus. In response to the findings,…
Read more
Retailers suffered a “historic” collapse in sales as the lockdown set in as even food retailers reported a slowdown, according to new CBI figures. The CBI’s monthly Distributive Trades Survey (conducted between 27th March 2020 and 15th April 2020) reveals that retailers expect a similar pace of decline in annual next month – the weakest…
Read more
The Chancellor has announced that small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders. Chancellor Rishi Sunak said the new Bounce Back Loans scheme, which will provide loans of up to £50,000, would help bolster the existing package of support available to the smallest businesses…
Read more