Credit, Collections & Insolvency News
The next two years will bring significant challenges to UK businesses, many of which may succumb to insolvency as a result. ICAEW conducted a survey of those working with the insolvency and business restructuring sectors* and asked what they felt would be the three greatest threats to British businesses over the next two years, the…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 12 PROPERTY RENTALS LTD 19 RM LTD 19/9 194F LTD 1ST BASE PROPERTIES LTD 20/20 BEEF LTD A & I CHILDCARE LTD A & M LONDON DEVELOPMENTS LTD A J CONTRACTS (WHITSTABLE) CONSTRUCTION LTD A STAR DRIVERS LTD…
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Businesses trading in the Americas have been warned about potential payment delays in a new report by trade credit insurer Atradius. The Atradius Payment Practices Barometer is an annual research report into the payment behaviours of global businesses and was prepared ahead of the recent natural disasters that have severely impacted parts of the region.…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million grew by 6% in July, compared with the same month last year. Including high-value deals, new business fell by 1% over the same period. The plant and…
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2016 showed a continued decline of 6% in the number of company insolvencies in the Central and Eastern European (CEEE) region, following a fall of 14% in 2015 according to new reseach by Coface. In all, over the course of last year, six entities per 1,000 became insolvent. This improvement was in line with the…
Read moreBNP Paribas Leasing Solutions has appointed Morgan Vessier as new Head of Risk. Vessier, who joined the BNP Paribas Group in 2005, has worked across several key business units, including BNP Paribas Personal Finance, where he served as the Head of Center for Scoring, and the Turkish Economic Bank (TEB), where he acted as Director…
Read moreArron Kendall and Simon Thomas, Partners at Moorfields Advisory have been appointed joint administrators of the UK arm of upmarket women’s fashion brand Basler. Basler UK is a subsidiary of the long-established Basler Fashion Group GmbH, which is headquartered in Goldbach, Germany, and also operates in the United States, Australia and throughout Europe. Since May…
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Andrew Duncan and Alex Cadwallader, Directors at Leonard Curtis have been appointed joint administrators to cake makers More Food. Chichester-based More Food specialised in the creation and supply of handmade cakes and tray bakes to a wide range of customers, including local bakeries, major retailers, such as Budgens and Waitrose as well as international sandwich shop…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 4WORLD DESIGNS LTD A & D TRANSPORT LTD ACCOUNT CONTRACTORS LTD ACKROYD STREET WORKING MENS CLUB AGM DEVELOPMENTS (CARLIOL) LTD AGRA LTD AKA CONSTRUCTION LTD ALAN EDWARDS LLP ALLAN LORD ELECTRICAL LTD ALLECO LTD ANZ GENERAL SERVICES LTD…
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Northern Ireland’s manufacturing sector has the lowest rate of firms at a higher than normal risk of insolvency of anywhere in the UK, according to the latest research by R3. In August less than one in five (19 per cent) of the North’s manufacturing businesses were considered at higher than normal risk of becoming insolvent…
Read moreThe Bank of England latest statistics showed a £200 million decrease in loans to smaller businesses during July. Mike Cherry, Federation of Small Businesses (FSB) National Chairman, said “Small businesses appetite for new finance is waning against a backdrop of unprecedented uncertainty, anaemic domestic growth and inflationary pressure weighing on consumer demand. Investment intentions are not where they should be…
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Small businesses are still fighting an uphill battle to secure public sector contracts, according to the latest report from the Federation of Small Businesses (FSB), which means the Government’s new targets for SME public procurement are unlikely to be met. FSB is calling on Government and the public sector to step up efforts to remove…
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Credit insurer Atradius has released a new trade report covering the Middle East and Northern African (MENA) economies. Alun Sweeney, Country Director for UK & Ireland at trade credit insurer Atradius, said: “Businesses are constantly striving to seek new trade opportunities, and build trading relationships, whether as a potential export or import partner. However, success…
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