Credit, Collections & Insolvency News
The Insolvency Service has published the latest business insolvency statistics for England and Wales for Quarter 4 2018 (October to December 2018) which show that that the underlying number of company insolvencies increased in 2018 to 16,090, the highest level since 2014. Seasonally adjusted corporate insolvencies fell by 9% in Q4 2018 compared to Q3 2018…
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UK Finance has published its latest business finance update for December 2018 which reveals that lending to manufacturers grew by 8.4 percent in the year to December 2018, in contrast to a 0.3 percent contraction in overall UK business borrowing. There was also annual growth in borrowing by the transport and accommodation and food service…
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Accountant in Bankruptcy (AiB) today released official statistics reporting personal and company insolvencies in Scotland for the third quarter (October to December 2018) of 2018-19. Scottish corporate insolvencies were up slightly on the same period a year ago with 209 recorded for the third quarter this year, eight more than the same quarter in 2017-18.…
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New research from Experian has revealed businesses in the South West have the strongest average business credit scores in Britain, while London ranks as the lowest. Organisations in the South West have an average business credit score of 54.7 – up from 53.4 last year. A business with this score is considered a below average…
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Strengthening the Prompt Payment Code, adopting Project Bank Accounts, and assigning Non-Executive Directors for the supply chain, are vital reforms needed to protect small suppliers against another Carillion payment practices scandal. One year on from the collapse of the construction giant, the Federation of Small Businesses (FSB) is urging the Government to implement a three…
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A new report from Euler Hermes has warned that company’s need to prepare for another year of rising insolvencies with based upon the collateral damage of low growth and tightening financial conditions. The report says that in 2018, global insolvencies confirmed an upward trend which started in 2017 after seven consecutive years of sizable declines.…
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The number of retailers entering into administration in 2018 was 125 – compared to 118 in 2017, a marginal increase of 6% according to Deloitte’s latest insolvency figures. In addition, the number of retailers entering into Company Voluntary Arrangements (CVAs) increased by 52%, from 25 in 2017 to 38 in 2018. Deloitte’s research shows the…
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The UK Small Business Commissioner, Paul Uppal is to recommend a traffic light warning system, which will allow small businesses to easily identify large businesses that pay late. New public data analysed for the first time by Lloyds Bank Commercial Banking in partnership with the Small Business Commissioner, analysed official payment reporting returns based on…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 4SQUARE CLOTHING LTD 60-61 EVERSFIELD PLACE LLP A-Z ACCESSORIES LTD A.M.I.SYSTEMS LTD A1 PLASTICS WINDOWS AND DOORS LTD ABBEY GATE ELECTRICAL LTD ACCALAIDE LTD ACE-BEV LTD ACTIVE LIFE GROUP LTD ACTIVE STORAGE TYSELEY LTD AGE GRACEFULLY LTD AH…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 06132417 LTD ACADEMY CLASS LTD ACCURATE LASER CUTTING (LEEDS) LTD ADVENTURES IN FURNITURE LTD AIR AND CARGO SERVICES LTD ALCHEMY FACILITIES LTD ALMTONE LTD AMICUS FINANCE PLC ANOTHERDATE LTD ATLANTIS ENTERPRISES LTD AVIDEAN LTD BADDOW HOSPITAL COMPANY LTD BARNSDALE HILLS LTD…
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Amicus Finance has announced on its website that it has entered administration. A site statement said ” On December 20th, 2018, Mark Robert Fry, Jamie Taylor and Kirstie Jane Provan were appointed Joint Administrators of Amicus Finance plc (In Administration),(the Company). The Joint Administrators act as agent of the Company and without liability. The news…
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Over one in ten (11%) UK companies is just paying the interest on its debts, rather than repaying the debt itself, according to new research from insolvency and restructuring trade body R3. Only being able to pay the interest, not the original debt itself, is one potential sign of a so-called ‘zombie business’ – a…
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Insolvency specialist, Begbies Traynor, expects corporate failures to continue rising next year, as continuing Brexit uncertainty and the tough high street climate take their toll. Begbies Traynor’s made the prediction as part of their latest results announcement which indicates that profits and revenues were up in the six months to October on the back of…
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