Credit, Collections & Insolvency News
The number of companies that entered insolvency in Northern Ireland during the run-up to Christmas is significantly up on last year. There were 114 company insolvencies in the final three months of 2019. It represents a 56.2 per cent rise in company insolvencies compared with the same quarter in 2018. Some 79 were cases of…
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Representatives of the construction industry, Build UK, have published the latest payment results submitted by its members under the ‘Duty to Report on Payment Practices and Performance’. The report’s aim is to create greater transparency across the construction sector which in turn will lead to improved payment practices. The report shows that contractor members showed…
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There was a 20 percent rise in the number of judgments recorded against consumers in the Republic of Ireland in Q4 2019, compared to the same period last year, figures released by registrar Irish Judgments show. Consumer judgment numbers rose from 516 in Q4 2018 to 618 Q4 2019, while the total value grew by…
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Judgments taken out against consumers in Northern Ireland rose 16 percent in Q4 2019 compared to the same period in 2018, according to figures released today (27th January 2020) by Registry Trust. 1,732 judgments were taken out against consumers compared to 1,494 in Q4 2018. The average value rose by 7 percent pushing up the…
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The Insolvency Service has released its annual figures on business insolvencies which show that excluding one-off ‘bulk insolvency events’, seasonally adjusted corporate insolvencies in 2019 rose 6.8% from 2018. Excluding these one-off events, there were 17,196 business insolvencies in 2019 – the highest since 2013 Underlying Creditor Voluntary Liquidations were at their highest annual level…
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The second Commercial Credit & Collections conference saw the themes of Brexit and technology within credit management discussed at an event hosted by Aon and CVR Global at last week’s (23rd January 2020) event held at the Leadenhall Building in London. Over 80 industry professionals from the commercial credit management sector attended the event. The…
Read moreNew research from insolvency firm, Begbies Traynor has revealed that the number of businesses in significant1 financial distress has risen to 494,000 – the highest number recorded by this research, with the real estate and property, support services, construction and retail the sectors particularly badly affected. The latest Red Flag Alert data for Q4 2019…
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There was a 20 percent drop year-on-year, in the number of County Court Judgments (CCJs) registered against businesses in England & Wales in Q4 2019, according to the latest figures released by Registry Trust. The total number of judgments against all businesses decreased from 29,303 in Q4 2018 to 23,418 in Q4 2019, and was accompanied…
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Philip King, Chief Executive Officer (CEO) of the Chartered Institute of Credit Management (CICM), has been appointed Interim Small Business Commissioner (SBC). King will head the independent Office of the Small Business Commissioner (SBC) in Birmingham. It was launched in December 2017 to ensure fair payment practices for Britain’s small businesses and support them in…
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The latest official statistics show that corporate insolvencies in Scotland for the whole of 2019 were 4 percent up on the year before, at 980, putting them at their highest level since 2012. However, the figures fell by 4% in October-December 2019 when compared with July-September 2019, and rose by 8% compared with October-December 2018.…
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UK businesses are planning a £1.7 billion investment boost over the next two years as Brexit uncertainty ends, a new survey has revealed. Plans to expand premises and employ more staff top the agenda for small and medium sized enterprises (SMEs), according to the results of the study by finance specialist Together. More than a quarter…
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Late payments are hitting the mental health of small business owners, according to research published by Pay.UK, which runs the Bacs Direct Credit and Direct Debit payment services. The research has found that ,ore than a quarter (26 per cent) of SME business owners stress about late payments even when they are not at work;…
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More than three in four small business owners (77%) are prioritising new initiatives for 2020 to make their business stronger according to latest figures from Hitachi Capital Business Finance. With 2019 being characterised by market uncertainty and static growth forecasts it appears that small business leaders are starting the new year with a different set of…
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