Credit, Collections & Insolvency News
Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 0161 LETTINGS AND MANAGEMENT LTD 1ST PLATINUM INVESTMENTS LTD 2M PRINT LTD 2W CONSTRUCTION LTD 360 BUSINESS PARTNERS LLP 3B LOGISTICS LTD 3RD LEG LTD 404 ENTERPRISES LTD 44 LONDON LTD 777 FOODS LTD 7HILLS MECHANICAL LTD A…
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The Government should introduce a tougher regime to tackle larger companies who treat small businesses ‘disgracefully’ by enforcing long payment terms or paying their suppliers late, says the Business, Energy and Industrial Strategy (BEIS) Committee in a report published today. The Small businesses and productivity report says that for a small and medium-sized enterprise (SME) to succeed…
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The Business, Energy and Industrial Strategy (BEIS) Committee has published correspondence with a series of major companies such as WH Smiths, Boots, Thomas Cook and Holland & Barrett on their payment practices, highlighting issues such as long payment terms and late payments. Following up concerns about poor payment practices raised during the current inquiry on Small…
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Debt charity, Business Debtline, has called for further action to support small business owners and self-employed people affected by late payments, where businesses are uncertain when the money they have earned will be paid. In its response to the Department for Business, Energy and Industrial Strategy’s call for evidence on tackling late payments, the charity…
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The average small business is owed £24,841 in late payments according to research by accounting software provider Xero.On any given day, 78% of businesses are owed money outside of agreed payment terms. The research was based on data taken from two million invoices issued by Xero’s UK small business subscriber base which showed that in…
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Research commissioned by Dun & Bradstreet revealed UK small and medium-sized enterprise (SME) confidence in future financial success is down 19% compared to last year. The study found that almost a third (32%) of respondents have considered leaving the UK to increase their chances of success. As well as ongoing uncertainty over Brexit impacting growth,…
Read moreUK Finance has released it’s business finance update for October 2018 which reveals that Lending to manufacturers grew by 6.9 percent over the last twelve months, in contrast to a 1.9 percent contraction in overall UK business borrowing. There was also annual growth in borrowing by the agriculture and accommodation sectors. The findings also revealed that…
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Mid-size and Northern companies have the highest insolvency risk according to analysis from new statistics published by the Government. R3 has reviewed the number of England & Wales corporate insolvencies in 2017, broken down by company age, size and location. The research has found that: Enterprises aged 4-9 years old, or with turnover of £0.5-1m,…
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The proportion of Scottish companies at elevated risk of insolvency fell slightly between October and November, by 1.3% – the first monthly fall in nearly two years, according to research by insolvency and restructuring trade body R3. Just over one in three (35%) companies in Scotland is at higher than usual risk of insolvency in…
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New research has indicated that bank lending to SME construction businesses has fallen by almost £1.2bn following the collapse of Carillion, dropping to £15.46bn at end of September 2018, down from £16.63bn on 30 September 2017. The study has been carried out by specialist debt adviser firm Hadrian’s Wall Capital. Hadrian’s Wall Capital says that…
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Judgments against businesses in England and Wales jumped nearly a third during the third quarter of 2018, compared with the same period a year ago, according to figures released today by Registry Trust. During Q3 2018, there were 32,629 CCJs against businesses in England and Wales, 32 percent more than in Q3 2017. The total…
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Trade credit insurer Atradius has published a new report revealing the challenges and opportunities facing the global machinery and engineering sector. The Atradius Market Monitor reveals that after a reasonably good performance in 2017 and a continuing trend at the start of 2018, growth within the sector is expected to slow alongside a rise in…
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The number of debt decrees registered against Scottish businesses rose by more than a third during the third quarter of 2018, according to figures released today by Registry Trust. There were 754 decrees issued against all businesses in Scotland during Q3 2018, 34 percent more than during the same period the previous year. A 44…
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