Credit, Collections & Insolvency News
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in February: 08165909 LTD 1 JAC LTD 1A INSTALEC LTD 1ST BED GUEST HOUSE LTD 2 X 2 LTD 389LOG LTD 6 MUSTARD LTD 786 EXPRESS LTD 7985433 LTD A 1 DOMESTICS LTD A A WHOLESALE…
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In February, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 36 DESIGNER BRANDS LTD A J ENGINEERING CONSULTANTS LTD A J W (VEHICLE SERVICES) LTD A P CONTRACTORS (UK) LTD A.P.D.J. LTD AA HOME GROUP LTD ABBEY HEALTH CARE LTD ABLE STAFFING LTD ABSOLUTE FENCING &…
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Research conducted by Nucleus Commercial Finance, an alternative finance provider, has revealed that nearly four in 10 (39%) of UK SMEs encountered financial challenges over the past twelve months. Of this group, a quarter (24%) of business owners used their personal savings to address financial issues within their businesses, while 27% simply took no action,…
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Late payments from customers are ‘business as usual’ for many small business owners in difficulty, according to new research from the Money Advice Trust, the charity that runs Business Debtline. The free business debt advice service helped more than 52,400 self-employed people and other small business owners last year. Nearly half (45%) of callers to…
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Barclaycard has launched its inaugural SME Barometer, in partnership with YouGov, revealing that UK SMEs performed well last quarter, and are positive about the year ahead. SMEs saw a strong end to 2019, with Barclaycard processing 5.1 per cent more merchant transactions in the fourth quarter (Q4), compared to the same quarter the previous year.…
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Last year, during 2019, The Insolvency Service an agency of The Department for Business, Energy and Industrial Strategy paid out a total of £346.11 million from the National Insurance Fund to former members of staff as a result of their employer entering into either administration, liquidation, a CVA or another form of corporate insolvency according…
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Overseas businesses who bought goods and services from UK companies in 2019 paid more invoices late and took longer to settle their bills. The latest MarketFinance Business Insights1 examined over 11,000 invoices to these businesses to understand the trading relationship between UK businesses and the UK’s top ten trading partner countries2 (United States, Germany, Netherlands,…
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Four in ten (37%) small businesses that made successful finance applications last quarter used the sums raised to manage cashflow rather than invest in their firms, according to new figures from Federation of Small Businesses (FSB’s) full Q4 2019 SBI latest report. Fewer than one in four (23%) used finance to update equipment, while even…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 1% in December 2019, and by 6% in 2019 to reach a record annual total of £35.7 billion. In December, the IT equipment finance sector continued to report double-digit growth as…
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A new insight report by trade credit insurer Atradius has highlighted the risk in the North American markets,. The country report focuses on the United States, Mexico and Canada (USMCA) region, detailing the political and economic landscape alongside an insolvency forecast and performance outlook into key industries. Within the report, Atradius highlights the slowdown in…
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Eleven firms – including several big names within the military, aerospace and defence sectors – have been suspended from the Prompt Payment Code for failing to pay suppliers on time, the Chartered Institute of Credit Management (CICM) has announced. BAE Systems (Operations) Limited, Leonardo MW Limited, and Smiths Detection are among those who have failed…
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The number of companies falling into administration across England and Wales increased by just under 5% over 2019, highlighting the number of high street failures according to new analysis from KPMG. A study of notices in the London Gazette shows that a total of 1,403 companies went into administration during 2019, compared to 1,341 in…
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Two in five small business leaders (39%) predict growth by 31st March – the highest level for 18 months, according to new research from Hitachi Capital Business Finance. By industry sector, this quarter sees a rise in growth outlook registered across the board in all but two sectors, with a significant upturn of growth projections…
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