Credit, Collections & Insolvency News
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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The number of retailers entering insolvency has increased by 7% in the past year from 999 in 2015/16 to 1,071 in 2017/18 according to new research by insolvency specialist RPC. RPC says that the retail sector continues to suffer from a high-cost base whilst the shift in sales from the high street to the internet…
Read moreIn the latest report into the collapse of Carillion, the Work and Pensions and Beis committees called Carillion’s rise and fall “a story of recklessness, hubris and greed” Responding to the publication of the Business, Energy and Industrial Strategy and Work and Pensions Committees’ full report on Carillion, Federation of Small Businesses (FSB) National Chairman…
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Ahead of the launch of the final report of their inquiry into the collapse of Carillion this week, the Work and Pensions and BEIS Committees has published evidence from Santander, the bank which operated Carillion’s Early Payment Facility. The report has found that despite being signatories of the Prompt Payment Code, Carillion were “notorious late…
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Business credit check specialist Cocredo has announced that it has launched Dual Report a new company reporting service. Cocredo’s research has found that a growing number of people use multiple reports when credit checking companies to gain a wider understanding of a business. However, it can become very costly and time-consuming logging into different systems and comparing credit reports that…
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Research from the Federation of Small Businesses (FSB) has highlighted poor payment practices epidemic running through public sector supply chains putting many small firms at risk FSB’s new data, which is part of wider forthcoming research into how the UK can better use supply chains, shows that nine out of ten (89%) public sector suppliers have been paid late. This…
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Euler Hermes publishes its annual review and forecast of global average Days Sales Outstanding (DSO), based on a sample of 20 sectors and 36 countries. According to the 2017 figures, DSO reached its highest level since 2007 at 66 days. This trend is expected to continue in 2018 with global average DSO to rise by…
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