Credit, Collections & Insolvency News
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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The number of debt decrees registered against Scottish companies rose by 21 percent during the first quarter of the year, according to figures released today by Registry Trust. Over the same quarter the average value of a company decree rose by five percent. By contrast decrees against businesses which were not incorporated moved strongly in…
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Companywatch has appointed Jo Kettner (née Roberts) as its new Chief Executive Officer (CEO). Kettner takes over the firm’s leading executive role from co-founder and former CEO Denis Baker who will remain with the firm as a board director and full-time member of staff. Since 2003, Kettner has held a number of roles at Company Watch. Initially…
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The latest results Insolvency statistics from The Insolvency Service for Quarter 1 (January to March 2017) reveal that Company Insolvency numbers have gone down. The main findings of the report were: Total company insolvencies in Q1 2017 decreased compared with the unusually high level in the previous quarter, when a large number of connected personal service…
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Creditsafe has been granted full Financial Conduct Authority (FCA) authorisation. Paul Beard, Global Commercial Contracts Director at Creditsafe, said: “FCA authorisation demonstrates to current and future clients, particularly large enterprises that Creditsafe’s regulatory and operational infrastructure has met the highest standard demanded by the FCA. It is further evidence of our commitment to deliver excellence…
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HM Revenue and Customs has launched a new hotline for the public to report fraud and evasion in the fight against tax fraud. This service will replace the two separate tax evasion and customs hotlines with one, streamlining HMRC’s intelligence gathering on tax fraud. Customers can report all kinds of tax fraud and evasion on the…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 4FRONT CLEANING LTD A & D HOMES LTD A & R HEATING & PLUMBING LTD A M GAS SERVICES AARON WEBSTER LTD ABSOLUTE HOME TEXTILES LTD ACTIONWAY LTD AE SYSTEMS LTD AERIAL CREATIONS LTD AGILE CONVEYANCING SEARCHES LTD AGP STEEL…
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