Credit, Collections & Insolvency News
Nearly a third of Scotland’s professional services firms are considered to be at higher than normal risk of insolvency, according to research by insolvency and restructuring trade body R3. The research shows that 30.7% of businesses in the sector are considered to be at higher than normal risk of entering insolvency in the next year,…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 18% in August, compared with the same month last year. New business reported by the commercial vehicle finance and business equipment finance sectors grew in August by 28% and 24% respectively, while…
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The ONS released UK business figures which revealed that there were 2.55 million businesses registered in the UK in March 2016 compared with 2.45 million in March 2015, a rise of around 105,000 (4.3%). Tim Vine, Leader, Risk Products at Dun & Bradstreet said “These latest figures from ONS have demonstrated that the number of businesses in…
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Appointment of Administrators Notices – September 2016 Administration notices have been issued and advertised in the London Gazette for the following companies: 247 TRANSPORTER LTD LSC 4CHILDREN (TRADING) LTD A-B-A-C-U-S FRANCHISING COMPANY LTD AAC MECHANICAL & ELECTRICAL LTD ACORN SHIPYARD LTD ALAN KIRKHAM LTD ALATAS ENGINEERING LTD ALBEMARLE SHOREHAM AIRPORT LTD AUTO FUEL FIX…
Read moreWinding Up Petitions (Companies) Notices – September 2016 Petitions have been issued and advertised in the London Gazette for the following companies: 13LAB EDITION LTD ABBEY ROSE INVESTMENTS LTD ABBEY SURFACING AND CONSTRUCTION LTD ABLE BUSINESS SERVICES CLEANING SOLUTIONS LTD ADCOCK CONSTRUCTION LTD ADVANCE ROBOTIC TECNIK LTD AFFORDABILITY SOLUTIONS LTD AGA LONDON LTD AGWM LTD…
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At least 500 million Yahoo passwords and usernames, as well as personal information used for security checks, have been stolen since 2014. Equifax has urged businesses to step up security checks. John Marsden, Head of ID and Fraud at Equifax said “Passwords are continuing to topple like dominos, and the rate of major breaches is increasing at…
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Atradius N.V has announced its acquisition of 55% of the shares in Graydon Holding N.V. With this acquisition Atradius, which already owned a 45% stake in Graydon will become the sole shareholder. Graydon has offices in Netherlands, Belgium and the UK with business operations in credit management, risk and compliance, marketing information and debt collection. Graydon will continue…
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New measures to support the Prompt Payment Code (PPC) and drive a culture of better payment practice have been confirmed in a letter to PPC signatories from Margot James, minister for Small Business and Philip King, chief executive of the Chartered Institute of Credit Management (CICM). The letter highlights the significant success of the code…
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The National Association of Commercial Finance Brokers (NACFB) has launched it’s annual report. Despite the backdrop of political and economic uncertainty surrounding the EU Referendum, small business lending hit an all-time high over the past 12 months. Lending has increased by almost 30% (29.8%) to £20.7billion. The figures are based on business written by NACFB brokers between July…
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Research from Funding Options has announced that the number of businesses whose assets were seized by the HMRC in order to settle outstanding debts grew sharply in the last year is up 145%, from 649 in 2014/15 to 1,592 in 2015/16. Funding Options adds that HMRC seized assets to recover £42.6m of outstanding debt in the last…
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Creditsafe has announced the opening of its first office in Asia. Headquartered in Tokyo with operations based in Fukuoka, it is the firm’s 18th global office. In addition to setting up its operation in Japan, Creditsafe is also planning to extend its global database to offer UK businesses information on more than 12 million publicly traded…
Read moreThe construction sector saw the highest number of company insolvencies in the first quarter of the year, despite numbers falling year-on-year, latest data from the Insolvency Service has shown. In total 672 construction firms went bust in England and Wales between January and March, outstripping other sectors such as the ‘wholesale and retail trade; repair…
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Figures released by the British Business Bank following a Freedom of Information request by the Press Association has found that a third of the public money lent to start up businesses has become bad debt. The Start Up Loans scheme has seen £72.4 million worth of loans written off or fall into default since the programme was launched…
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