Credit, Collections & Insolvency News
Open GI, has announced a new partnership with Equifax. The deal will equip brokers with a new dedicated business insight service for SMEs and larger commercial organisations. The check, which will be available through Open GI’s fraud validation platform, uses Equifax Business Insights to provide access to financial information on UK businesses, including SMEs. It calculates…
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Credit Insurer Atradius has announced an upgrade to its digital platform with the unveiling of ‘Atradius Atrium’, its new credit management portal. Atrium is an advanced way for business to complete credit insurance transactions creating a new level of service. The Oracle based portal is designed to evolve with digital advancements and user requirements. Andreas…
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Cifas has released a new collaborative report with LexisNexis Risk Solutions which highlights that company directors are one of the most at-risk groups for identity fraud. Nearly 19% of identity fraud victims are company directors, this is despite company directors comprising less than 9% of the UK’s population. Furthermore, the report also identifies a trend where identity fraudsters…
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New research conducted by RateSetter Business Finance reveals how credit conditions look to be tightening again, with over 400,000 small businesses now interested in finding an alternative to the banks for a loan. When asked, 32% of SMEs that had considered raising finance said that it was now harder than six months ago. During this…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 3NT CONSULTING LTD 784 LTD A & S PUBS LTD A.C.H.G. PROPERTIES A.P. LOOK BUILDING AND MAINTENANCE LTD AAA DRIVEWISE CONTRACTS LTD ABELARDUS LTD ABERSWIFT DE LEADING SPECIALISTS LTD ABH CONTRACTS (UK) LTD ACE GARAGE LTD ACQUIRO LTD ACQUISITION 395448999…
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Research from R3 suggests that 80,000 (4%) of business would struggle to manage a rise in interest rates of 0.25%. The research, part of a long-running survey of business distress by R3 and BDRC Continental, also found that 96,000 firms (5%) were just paying interest on their debts. Speaking on behalf of R3 Andrew Tate…
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Nearly 4,000 businesses ceased trading as increased financial uncertainty gripped the UK in the first quarter of 2017 (Q1). Marginally over two-thirds of the 3,967 insolvencies – 68% – were voluntary, with the overall number rising by 4.5% in real terms compared to the fourth quarter of 2016. The research, carried out on behalf of…
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Creditsafe has created a Prompt Payment Premier League table. The table reveals that English Premier League Clubs have overdue invoices totalling £1.3million and 20% are late by 20 days or more beyond the agreed payment terms. Manchester United who place 19th in the Prompt Payment Premier League have 63 outstanding invoices totalling £857,183, making up…
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There was a sharp increase in the number of county court judgments (CCJs) against companies in England and Wales during the first quarter of the year, according to figures released today by Registry Trust. In Q1 2017, 29,811 CCJs were registered against all businesses in England and Wales. The increase of 36 percent compared with…
Read morePayment delays and insolvencies are predicted to rise in the consumer durables retail sector this year, reveals a new economic report from trade credit insurer Atradius. While payment delays and insolvencies have remained relatively stable over the last six months, the Atradius Consumer Durables Market Monitor reports a weaker picture for the six months ahead.…
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Close Brothers has announced the acquisition of Novitas Loans. Novitas is a leading provider of loans to the legal sector and will become part of Close Brothers Invoice Finance and Rentals, led by David Thomson. Novitas specialises in providing working capital for law firms and also loans to their clients purchasing specific legal services, from divorce…
Read moreWinding up Petitions have been issued and advertised in the London Gazette for the following companies: A.G. LAMB LTD ACQUISITION 395446180 LTD ACQUISITION 395448370 LTD ACS FACILITIES LTD ADC TRADING (UK) LTD ADRIAN V LTD AESTHETICS OF LONDON LTD AIREDALE ENVIRONMENTAL SVS LTD ALBY DISTRIBUTION GROUP LTD ALEGRO ADVISORS LTD AMB ROOFING SERVICES LTD ARCRO HOLDINGS…
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The Insolvency Service has handed out 573 director disqualifications lasting more than five years in 2016/17, the highest figure since 2010/11. In 2015/16, it handed out 532 bans. Data from the regulator showed that, in total, there were 1,214 director disqualifications in 2016/17, compared with 1,210 one year earlier. The regulator said the average period of…
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