Credit, Collections & Insolvency News
The second Commercial Credit & Collection conference has been confirmed as Thursday 23rd January by the organiser Credit Connect Media. The event will once again be hosted in partnership with CVR Global and Aon. The conference will tackle issues across the full life-cycle of business credit and collections. The conference series also aims to provide…
Read moreThe latest Purchasing Managers’ Index data for the service sector highlights the rising risk of a recession in the UK. The drop from 50.6 points to 49.5 points in September, means the service sector is the latest to fall below the neutral 50-points line that divides expansion from contraction. This is only the fifth time…
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In September, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1 LOVE COMMUNITY C.I.C. 4 SEASONS WINDOWS DOORS & CONSERVATORIES LTD AAM FAST FOODS LTD ABSOLUTE VINTAGE LTD ACTIVESALE LTD ADBASE LTD AFFINITY ELECTRICAL SOLUTIONS LTD ALL STAR LEISURE (GROUP) LTD AMERICAN SWEET WORLD LTD AMIR…
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In September, the following administration notices have been issued and advertised in the London Gazette for the following companies: 06610732 LTD 4MATIC DESIGN & MANUFACTURE LTD ABBEY VIEW HOMES LTD AFAN VALLEY LTD AFX MARKETS LTD ALL STAR LEISURE (GROUP) LTD and other companies ALTON TRANSPORT SERVICE LTD ALTUS SERVICES LTD AMDALE LTD ANDARO LTD…
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In August Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 120 HOLLAND ROAD LTD 121 RENTAL LTD 365 GROUP HOLDINGS LTD 3D ACCESS SOLUTIONS LTD A & R GLOBAL SOLUTIONS LTD A C ENGINEERING (SCOTLAND) LTD A&T COMPLETE JOINERY LTD ACOUSTIC FIRE SEAL LTD ACTDRIVE TECHNOLOGY…
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Debenhams has won a legal challenge against its Company Voluntary Arrangement (CVA). The department store was taken to court by Combined Property Control Group (CPC) – the landlord of six Debenhams stores in England – over the argument that its CVA was “designed to create a situation in which the company’s general body of unsecured…
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The UK Civil Aviation Authority (CAA) said the tour operator has “ceased trading with immediate effect” after winding up orders were made against Thomas Cook Group plc and associated companies. The court appointed the Official Receiver as the Liquidator. The court has appointed Special Managers to assist the Official Receiver with the liquidation. Insolvency Practitioners…
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Irish SMEs drew down €1.4 billion in loans from Irish banks over Q2 2019, an increase of €147 million on the same period of 2018. SMEs in the property sector accounted for the largest share of new drawdowns at 36 per cent, followed by SMEs in the wholesale/retail trade and agricultural sectors; accounting for 12…
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Leading business groups and insolvency experts have written to the Chancellor to warn that plans to prioritise repayments to HMRC over repayments to other creditors in insolvencies will have serious consequences for the UK economy. Under legislation included in the draft Finance Bill, the Government is planning that, from 6 April 2020, certain tax debts…
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The number of restaurant businesses going insolvent has jumped 25% in the last year to 1,410 in 2018/19, up from 1,130 in 2017/18, according to new figures from UHY Hacker Young. The report says that the rapid growth of the causal-dining sector since the last recession had resulted in an over-saturated mid-market which is still…
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The winners of the third annual 2019 Credit & Collections Technology Awards have been revealed. There were eighteen winners from the twenty Awards categories which are covered by four main headings of Applied Technology, Credit and Collections, Lender and Creditors and Innovation Leaders. The awards ceremony was held at the Credit Services Association’s (CSA) annual…
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Heightened restructuring activity has seen the half-year net reduction in stores on Britain’s high streets hit record levels according to research by the Local Data Company (LDC) and PwC. The first half of 2019 saw almost twice as many store closures (16 per day) as openings (9 per day). In total, 1,634 stores opened and…
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New identity checks for company directors should be introduced to help reduce business fraud, says Tim Cooper, chair of insolvency and restructuring trade body R3 in Scotland. A Government consultation into enhancing the role played by Companies House in the UK’s anti-fraud framework, which recently closed, provides a real opportunity to significantly strengthen the UK’s…
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