Credit, Collections & Insolvency News
The number of failures of UK companies has risen 30.0% to 4,827 in the second quarter of the year, compared to the same period a year ago, according to the latest figures from Creditsafe’s Watchdog Report. The quarterly Watchdog report, which analyses financial data across 12* UK business sectors, showed that high profile high street…
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Small businesses across the UK are still chasing £14.9 billion in late payments resulting from goods and services they have provided, according to new research by Liberis. The study claimed that on average respondents were owed £11,000, which extrapolated to £14.9 billion across the UK’s 5.7 million small firms. The survey found that the amount…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: (EN) 10 (GLOBAL) LTD 1PK LTD 24/7 RESCUE AND RECOVERY UK LTD 3B VISION LTD 3G TOOLING LTD A.S.T. DEVELOPMENTS LTD A1 DEMOLITION LTD A1 HARPREET CONSTRUCTION LTD ABC EVENTS (SCOTLAND) LTD ACCESS SECURE SCAFFOLDING LTD ACM FACILITIES…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 1ST CALL RECRUITMENT LTD A2B LOGISTICAL LTD ABBEVILLE INSTRUMENT CONTROL LTD ADAM MICHAEL SCAFFOLDING SERVICES LTD ADM PRECISION LTD AL-UMMAH HALAL POULTRY LTD ALLABOUT CLEANING SPECIALISTS LTD ANBO INTERNATIONAL LTD B & W LOGISTICS LTD BARWELL FINISHERS LTD BAXENDEN DEVELOPMENTS LTD…
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Debt levels among Britain’s listed companies have hit a record high according to new research by Link Asset Services. Link Asset Services’ Debt Monitor report has revealed that listed companies’ debt has increased 69% since 2010/11, with oil companies seeing the fastest increase. The report measures the level of debt taken on by the UK’s…
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New Research from Moore Stephen has indicated that 153 estate agents have gone insolvent in the last year, up from 148 the year before, as the pressure from online rivals continues to increase. More than 7,000 UK estate agents currently show signs of financial distress. Even larger estate agents look to be feeling the strain, with…
Read moreNew figures from a finance industry survey have shown that restricted cash flow and lack of bank support are the top challenges facing SMEs – but that the majority of advisers would recommend alternative finance to unlock the path to growth. The survey of the UK’s advisory professionals’ community by alternative finance specialists ThinCats showed…
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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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