Credit, Collections & Insolvency News
Risk solutions specialist, TruNarrative has partnered with Creditsafe, to synchronise their data and provide unparalleled KYC, AML and fraud protection to businesses all over the world. TruNarrative customers can now utilise the Creditsafe data as part of a published TruNarrative journey or directly via the TruNarrative app store. This allows for data and checks to…
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Creditsafe has published a Credit Worthiness Premier League table. The research has revealed that Chelsea is set to be relegated from the 2017 Premier League – if the final standings were based on company credit ratings. Despite having a turnover of over £335million, the football club finds itself with the third worst credit score in…
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Business finance company MarketInvoice, the business finance company, reveals insights from a survey of businesses on their funding needs and wider concerns. When it comes to making business funding decisions, over half (56%) of business leaders reported that accountants are their most important external advisers when considering business finance options. They are twice as important to…
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The Irish Small & Medium Enterprises Association (ISME) Credit Watch latest survey shows that late payment has deteriorated from 59 days to 61 days in Q2. Dublin and Ulster businesses are waiting the longest to be paid. Commenting on the results ISME, CEO Neil McDonnell said “Todays’ results are disappointing. Late payments are a big issue for SMEs;…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 34W LTD 360PRECISION LTD 365 (2012) LTD A 2 DELICIOUS LTD A&J WATER TREATMENT LTD AAA DRIVEWISE CONTRACTS LTD AALBORG PLACE LLP AB RESTAURANTS LTD ABEL OF HERTFORD LETTINGS LTD ACORN DEVELOPMENTS (KENDAL) LTD ADASTRA PUB COMPANY LTD ADVANCE EMPLOYABILITY…
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New research from Begbies Traynor shows that 329,834 UK companies were experiencing “Significant” financial distress at the end of Q2 2017, a 25% increase from Q2 2016 (263,517 companies), representing the largest annual increase since Q2 2014 and the largest number of corporates experiencing significant distress in at least 5 years*. The Red Flag Alert…
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19% of estate agents in the UK currently exhibit warning signs that indicate they are at risk of going insolvent according to the latest research by Moore Stephens. The research shows that 4,928 estate agents out of a total 25,560 are showing signs of financial distress. Online estate agencies such as PurpleBricks, House Simple and…
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Moody’s Corporation has announced today that it has received clearance under the EU Merger Regulation from the European Commission to acquire Bureau van Dijk, a global provider of business intelligence and company information. Moody’s announced that it had agreed to acquire Bureau van Dijk on May 15, 2017. In accordance with the terms of the transaction, Moody’s expects the…
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Business information specialist, Creditsafe, has announced the addition of 16 countries across the Middle East and North Africa to its global platform. Businesses will now be able to gain instant online access to credit reports for companies in countries including: Bahrain, Benin, Burkina Faso, Congo Kinshasa, Egypt, Jordan, Kuwait, Lebanon, Oman, Palestine (West Bank and…
Read moreThe latest results Insolvency statistics from The Insolvency Service for Quarter 2 (April to June 2017 (Q2 2017) reveal that total company insolvencies increased in Q2 2017, primarily caused by 1,131 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. The estimated underlying number of company insolvencies fell…
Read moreThe number of Scottish businesses becoming insolvent or entering receivership dropped by almost 25% compared to a year ago, according to figures from Accountant in Bankruptcy (AiB) for the first quarter of 2017-18. Compared to the first quarter of 2016-17, there were 200 corporate insolvencies, down from 265 – a drop of 24.5%. The figure…
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Insolvency action may arise as an unintended consequence of the introduction of the new Pre-Action Protocol for Debt Claims on 1st October according to law firm Clarke Willmott. Karen Chapman from Clarke Willmott LLP. Chapman says the Ministry of Justice’s protocol will potentially make it a longer and more onerous process to recover debts from sole traders or…
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The body that administers the Prompt Payment Code (PPC) on behalf of the Government says that the Code is having a demonstrable impact on improving the payment practices of larger firms. As the Code registers its 2,000th signatory, The Chartered Institute of Credit Management (CICM) points to a series of recent announcements from supermarkets and…
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