Credit, Collections & Insolvency News
Almost a third of SMEs (31%) have experienced late payments costing their business at least £10,000 in the last 12 months, according to research by Hitachi Capital. The report says the impact of late payments on the long-term health of the UK economy is estimated to have cost UK SMEs at least £51.5 billion in…
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The Chief Executive of the Chartered Institute of Credit Management Philip King has given a cautious welcome to the Government’s call for evidence in tackling late payment but warned against actions that may ‘throw the baby out with the bathwater.’ King says that while the possibility of increased powers for the Small Business Commissioner (SBC)…
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In August, the following administration notices have been issued and advertised in the London Gazette for the following companies: 60 FAITHS APARTMENTS LLP 8 OUTDOOR MEDIA LTD A1 HIRE (PERTH) LTD ABELIA CARE SERVICES LTD ACCORDIANT LTD ADAM MICHAEL SCAFFOLDING SERVICES LTD ANDY THORNTON CONTRACTS LTD ASBESTOS CLEARANCE AND DISPOSAL SERVICES LTD ASPRAY TRANSPORT LTD…
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Overall business confidence fell in August, for the first time in three months, by 12 points to 1%, according to the latest findings from Lloyds Bank Commercial Banking Business Barometer. Overall business confidence is calculated by averaging the views of 1,200 companies on their business prospects and optimism about the UK economy. This month’s business…
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New research from Lloyds Bank Commercial Banking has revealed that a third of UK businesses who were paid late in the last year did not chase outstanding payments. Fear of damaging valuable customer relationships was the biggest rationale by some margin, cited by two thirds, 62 per cent, of businesses. This was followed by capacity…
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Corporate insolvencies are on the rise globally due to the more challenging economic environment and high policy uncertainty according to a new report by Atradius. The report says business failures in developed markets are forecast to increase 2.8% in 2019 – the first annual increase in a decade – followed by another 1.2% increase in 2020.…
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Bupa Insurance Services poor payment practices have been exposed in a new report by The Office of the Small Business Commissioner. The reports names Bupa for failing to pay adequate compensation to a small business in a case of late payment of invoices, following an investigation into a complaint. The small business commissioner found that…
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Dun & Bradstreet’s latest UK Industry report has revealed that retailers continued to face a challenging business environment throughout the first half of the year. Between falling year-on-year sales, as reported by both the BRC and ONS, and a growing number of vacant stores, retailers are feeling the brunt of consumer uncertainty, particularly surrounding the…
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Credit checking specialist, Creditsafe, has added fifty new members to its specialist group support team in Cardiff Bay, across IT, security, development and product. The appointments are helping to expand the companies offering in these areas to meet the ever increasing demand in specialist credit data. Amongst the appointments includes Wouter Morkel, has joined the…
Read moreA new report by Credit Benchmark has highlighted the pressure of Brexit on Restaurant and Bar businesses. The report says that the UK industry has been suffering under the ‘Brexit Effect’ for some time now, with a downturn observed across both large and smaller businesses around the country. One of the hardest hit industries has…
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Dun & Bradstreet and the Chartered Institute of Credit Management (CICM) have announced the findings of a multi-national study on how respondent finance and credit leaders are adopting automation in their departments and the challenges they face in implementing automation. The informal study found that while 87% of respondents believe automation will improve their respective function’s…
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West Kent and Ashford College (WKAC) is set to enter education administration under the insolvency regime created by the Technical and Further Education Act 2017. WKAC bosses have filed a request to also be placed into education administration after the FE Commissioner recently recommended East Kent College Group should take on its provision and facilities…
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In July, the following administration notices have been issued and advertised in the London Gazette for the following companies: 39-45 GRANSDEN AVENUE LTD ALBION BLADES LTD AMG CHATHAM LTD ASPIN GROUP LTD ATLANTIC CARBON GROUP PLC BATHSTORE.COM LTD BAYLIS AUTOMOTIVE (SMETHWICK) LTD BILLY FOUNDER LTD BOURTON SPA LTD BROADREACH HOUSE BUXTON POWER LTD C.G.P.M. LTD…
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