Credit, Collections & Insolvency News
Just over half of all technology and IT companies in Scotland are at higher than average risk of insolvency in the next 12 months, according to new research from insolvency and restructuring trade body R3. The percentage of IT companies in the negative band (50.1%) in June 2018, equating to 5,600 firms, is a steep…
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Over a quarter (26%) of UK companies have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3, the insolvency and restructuring trade body. The research found the financial impact of the insolvency of another business was described as…
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The Number of new loans to SMEs has increased in Quarter 1 according to new figures from UK Finance Commenting on the data, Stephen Pegge, Managing Director, Commercial at UK Finance said “The number of new approved loans to SMEs grew slightly in the first quarter of the year, driven in part by increased demand…
Read moreCustomer non-payment continues to hamper the growth of small subcontractors working in the UK construction sector, according to a study by financial services provider Bibby Financial Services (BFS) and industry experts, The Vinden Partnership (TVP). Findings of the Subcontracting Growth 2018 research, undertaken in the aftermath of the collapse of Carillion, reveal that three-fifths of subcontractors (60%)…
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A new joint report published by Cranfield School of Management and Dun & Bradstreet has found that risk in supply chain differs by industry sectors. The report has investigated the level of supply chain risk faced by European companies with international supplier relationships. The report used four key metrics – supplier criticality, supplier financial risk,…
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A five-year study by the Chartered Institute of Credit Management (CICM) of the use and application of credit in driving the UK economy suggests credit managers are more confident today than in previous years, despite ongoing uncertainties over the economy and Brexit. The Changing Fortunes of credit and the UK Economy 2011-2016 report shows the Credit…
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Following the recent increase in company voluntary agreements (CVAs), the British Property Federation (BPF) has called on the government to conduct an urgent review. The BPF believes the process is now being misused, saying that this risks undermining the UK’s global reputation and deterring much-needed investment into town and city centres, at a time when it…
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The total value of UK business judgments rose sharply by 25 percent during the first quarter of the year, according to figures released by TrustOnline.The figures also show that the total number of judgments against businesses was up 8 percent on the same quarter in 2017. Over the same period the number of online searches…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09155717 LTD 1313 BATH LTD 2391 ELECTRICAL SERVICES LTD 404 ENTERPRISES LTD A MORREY DISTRIBUTION LTD A PROPERTY MANAGEMENT LTD A STUDIO LTD ABER HOUSE LTD ABSOLUTE WAREHOUSE SOLUTIONS LTD AC BOLTING AND TESTING LTD ACCESS SECURE SCAFFOLDING…
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Administration notices have been issued and advertised in the London Gazette for the following companies: AIR MANAGEMENT SYSTEMS LTD ALBERT ROAD RECOVERY AND REPAIR LTD ANGLEWEST LTD ATLANTIC HOUSE LTD BACTEST LTD BAKER CONSULTANTS MARINE LTD BENCH LTD BILL LEWINGTON LTD BIRAKOS ENTERPRISES LTD BLUE SQUARE BUILDING LTD BOURGEE RESTAURANTS (BURY ST EDMUNDS) LTD BOURGEE RESTAURANTS…
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Big business has been put on notice by the Federation of Small Businesses (FSB) and warned that they must do more to end late payments, poor payment practice and supply chain bullying that is damaging the UK economy. A letter from FSB National Chairman, Mike Cherry, to all FTSE 100 companies urges Chairs and CEOs to…
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Latest statistics from the UK Finance’s business finance for April 2018 has revealed that UK business borrowing contracted slightly by 1.7 percent in the last 12 months. However, within industry sectors, there was a mixed picture with manufacturing maintaining strong growth at 8 percent while construction contracted by 6.3 percent in the year. In addition, UK business deposits grew…
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The number of small firms planning to decrease investment has hit an 18-month high, according to new research from the Federation of Small Businesses (FSB). It was announced on Friday that UK business investment fell to £46.1 billion between Q4 2017 and Q1 2018. Seven in ten (69%) small firms are not planning to increase…
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