Credit, Collections & Insolvency News
Around one in three (33.8%) Scottish-registered companies had a higher than usual risk of insolvency in December, according to new research from insolvency and restructuring trade body R3 in Scotland. The equivalent figure for the UK overall is higher, at over two in five (41.1%), while the South East of England is the region with…
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Duncan Swift, President of insolvency and restructuring trade body R3 has responded to the Queen’s Speech Swift said “We hope the Government does not miss the opportunity to make progress with much-needed – and long-awaited – corporate insolvency and restructuring reforms. They don’t appear to have been included in any of the planned bills, and…
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Major insolvencies have rebounded as retail and construction accounted for more than a quarter of the world’s large corporate failures in Q3 2019, according to trade credit insurance provider, Euler Hermes. The insurer’s findings on global corporate insolvencies with turnover exceeding €50 million show there was an increase between July and September from 74 to…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in November: 07446749 LTD 1K1 LTD 1ST DIBBS LTD 2868 LTD 321TRAVEL LTD 3SIXTY5 SERVICES LTD 4 SEASONS WINDOWS DOORS AND CONSERVATORIES LTD 4-INTERIOR LTD 50CYCLES LTD 808 LEISURE LTD A & C THERMAL LTD A…
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In November, the following administration notices have been issued and advertised in the London Gazette for the following companies: 30 PERCY STREET LTD ADMIRABLE CRICHTON LTD(THE) AGP PLAY LTD AKHQ LTD ALLEN WILSON JOINERY LTD ANCHOR BAY CONSTRUCTION PRODUCTS LTD ANNICARE LTD AUTO SILICONE HOSES LTD BELMONT GARAGE LTD. BIRLEY MANUFACTURING LTD BRICKVEST LTD. BRICKVEST…
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In November, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 2018 PG PROPERTIES LTD 20190221 LTD 24/7 SHOP£ LTD 24HR CARE SOLUTIONS LTD 2EQIPP LTD A & P TRANSPORT (WORCESTERSHIRE) LTD A A WHOLESALE LTD A P VEHICLE AND PLANT EQUIPMENT LTD ABERCORN HOLDINGS LTD ABLE…
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More companies across England and Wales are opting for voluntary rather than compulsory liquidation because of rising Government costs, an insolvency expert has said. The Insolvency Service’s report, published by the Government, showed company insolvencies increased slightly in Q3 2019 compared with Q2 2019. According to the report, the increase was primarily driven by a rise…
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R3, the insolvency and restructuring trade body, has launched its 2019 election manifesto, which sets out the policies that will help the insolvency and restructuring profession continue to support businesses and individuals going through financial distress. These include: The abolition of plans to make HMRC a priority creditor in insolvencies The introduction of the proposed…
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New analysis from MarketFinance has found that SMEs are being stretched by longer payment terms. The analysis found that businesses typically agree 45-day payment terms from completion of work or delivery of goods. Despite this, almost two-fifths (39%) of invoices issued in 2019 (worth over £34b2) were paid late, an improvement on 2018 when 43%…
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The Commercial Credit & Collections conference has confirmed its speaker agenda for the next event which takes place in January. CVR Global and Aon’s Commercial Credit & Collections conference agenda now includes speakers from Onguard and Cifas whilst three Credit Managers will debate the impact of technology on credit management. The event will open with…
Read moreThe adoption of artificial intelligence (AI), robotic process automation (RPA) and machine learning (ML) is increasing across the finance sector. This is being driven not only by a growing number of use cases but also the significant benefits these technologies offer, for instance, PwC has found that 54% of executives say AI tools have boosted…
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Mounting concerns such as late payments (54 per cent), cyber-attacks (27 per cent) and tax rates (44 per cent) have left the UK’s entrepreneurs fearing for the future. Other challenges include the cost of staff recruitment (19 per cent), maintaining or increasing levels of productivity (31 per cent) and uncertainty over Brexit (44 per cent).…
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Set against a backdrop of unprecedented change – British small businesses are remaining stoic and are facing the next three months with renewed focus and a determination to succeed. New research from Hitachi Capital Business Finance shows that for the sixth consecutive quarter confidence levels have varied only by 1%, with the number of businesses…
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