Credit, Collections & Insolvency News
Escalating business rates are continuing to put pressure on London’s hotel industry according to latest figures from Colliers International, Hotel companies are facing new bills for the year ahead which show the third set of rises since the 2017 Revaluation, with many bills double what they were three years ago. Such bills will need to…
Read more
Accountant in Bankruptcy’s (AiB) has published its latest provisional figures ( January to March 2019) which show that there were 966 Corporate insolvencies in Scotland in 2018-19 up from 884 last year. Commenting on the latest figures, Minister for Business, Fair Work and Skills Jamie Hepburn said “These figures highlight the challenging economic times we…
Read moreThe HMRC applied to shut down 4,160 businesses in 2018, due to these UK businesses having “fallen behind” on their tax payments last year. according to new statistics by Funding Options. The report cited that HMRC has been too aggressive in their approach when shutting down businesses. Conrad Ford, CEO of Funding Options. said “The…
Read more
Global business intelligence specialist Creditsafe has announced a new partnership with risk decisioning and data science solution Provenir to provide automated investment and credit risk decisioning to businesses. The partnership will see Creditsafe incorporate Provenir’s risk decisioning and data science platform into its Connect API, allowing connection to major CRM and ERP systems. This will allow users to be able to access and analyse financial data regarding possible investment and lending opportunities in real-time. Thanks to this new partnership companies will be able to make more informed…
Read more
A record net 2,481 stores disappeared from Great Britain’s top 500 high streets in 2018. In total, 3,372 shops opened, compared to 5,833 closures. (2017 net loss: -1,772 stores), according to PwC research compiled by the Local Data Company (LDC). The number of store openings by multiple retailers* on Great Britain’s top 500 high streets…
Read more
The Chartered Institute of Credit Management (CICM) and The European Freight Trade Association (EFTA) are claiming victory after Companies House added a warning to its website that the information available on its site has not been independently verified. Philip King, the Chief Executive of the CICM, the world’s largest recognised professional credit management body, and James Campbell, Secretary of The European…
Read more
Debenhams has entered pre-pack administration with control of the company now falling into the hands of its lenders as part of an administration process. The company has 166 stores, which for now continue to trade, although it has indicated that 50 branches are earmarked for closure in the future. Its lenders include Barclays and Bank…
Read more
Ofwat has allocated customers affected by the proposed liquidation of Aquaflow Utilities to Clear Business Water, following a competitive process. Ofwat have worked with the market operator, MOSL, to switch affected customers and they should be receiving information from Clear Business Water soon. Ofwat has used powers under the Interim Supply Code, and stepped in…
Read more
The Small Business Commissioner, Paul Uppal, has highlighted poor supplier payment practices at Holland & Barrett, following the publication of his report into a late payment complaint made by a small business. The official complaint was logged with the Small Business Commissioner by the London-based technology consultancy after Holland & Barrett failed to pay a…
Read more
Almost 115,000 businesses waited an average of 57 days for payment in 2018 with more than 1,000 of these subsequently entering insolvency as a result, according to new data from insolvency specialist Begbies Traynor. The data, which was gathered from more than 1 million debtor day reports since 2011, also revealed that of those 1,000…
Read more
Trade Ledger, an open banking platform for business credit automation & Nimbla, the pioneering trade credit insurance platform have announced a new partnership to streamline trade finance & insurance processes for banks and lenders. The partnership will be the first time two Banking-as-a-Service (BaaS) platform providers have come together in the corporate lending sector but…
Read moreWinding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 06606420 LTD 119 MARYLEBONE ROAD TENANT LTD 3A’S CONSULTANCY LTD 56 EP LTD A & D MAINTENANCE CO. LTD A HERITAGE WINDOW CO. LTD A M PROPERTY MANAGEMENT SERVICES LTD A W CLEAVER HAULAGE LTD ABS SCAFFOLDING LTD…
Read more
Administration notices have been issued and advertised in the London Gazette for the following companies: A. & J. FABTECH LTD ABILISOFT LTD ACCESSIBLE TRANSPORT GROUP CONTRACT SERVICES LTD ACCESSIBLE TRANSPORT GROUP LTD AKTIS STRATEGY LTD ALLERFORD HOLDING LTD ALLERFORD INTERMEDIATE NEWCO LTD ALTIMA LIGHTING LTD AMBITEMP (M&E) LTD ARCH HALL LTD ARCH HALL SOUTH LTD ASHFIELD…
Read more