Credit, Collections & Insolvency News
The government has announced that it will extend measures to prevent high street businesses facing eviction over summer. The extension, until the end of September, comes alongside further support to help local businesses plan for economic recovery following the coronavirus pandemic. A new code of practice has been developed with leaders from the retail, hospitality and property…
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New research by Coface has predicted that the number of insolvencies is expected to rise across Europe in the second half of 2020, and in 2021. Germany, the least affected country, is still on track for a 12% increase in insolvencies between end-2019 and end-2021. France (21%) and Spain (22%) will be more affected by…
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Businesses are facing significant difficulties in the face of the coronavirus pandemic and are pessimistic about their growth once the crisis passes, according to a survey commissioned by UK Finance and undertaken by BVA BDRC. The research finds that the COVID-19 crisis has negatively impacted 69 per cent of businesses, with three out of five…
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A record number of housebuilders are continuing to go bust, according to data obtained by Price Bailey, 368 developers filed for insolvency last year compared with 207 in 2016, with the increase said to be threatening the supply of new homes. Price Bailey obtained data from the Insolvency Service under the Freedom of Information Act,…
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A report by TheCityUK has predicted that the Government’s three lending schemes will see borrowing boom from the current £27 billion to £123 billion by Q2 next year. The task force has proposed several ways the debt burden could be reduced, including exchanging troubled debt at larger businesses for preference shares, or swapping small businesses…
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Small businesses face a ‘trade credit crunch’ as a backlog of unpaid invoices builds up according to research by iwoca which shows that 40% of businesses are currently facing debts of over £10,000 in unpaid invoices. Iwoca says that businesses face considerable disruption with unpaid invoices meaning that as many as one in four company’s…
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In May the following administration notices have been issued and advertised in the London Gazette for the following companies: ADELIE FOODS BIDCO LTD ADELIE FOODS GROUP LTD ADELIE FOODS LTD ADELIE HOLDCO UK LTD AHS COMMERCIAL LTD ALDO UK LTD ANTLER (HOLDINGS) LTD ANTLER LTD ARLINGTON AUTOMOTIVE HOLDINGS LTD ARLINGTON AUTOMOTIVE NE LTD ARLINGTON ENGINEERED…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in May 2AM DESIGN LTD 624 SEACROFT AND MAYWEATHER PRODUCTS LTD A-Z STATIONERS LTD AAC AIR CONDITIONING LTD AB TRAFALGAR SQUARE LTD ACTIVE ORTHOTICS LTD AEGIS ENVIRONMENTAL SOLUTIONS LTD AFFORDABLE HOME FURNISHINGS LTD AIR RISK INTERNATIONAL…
Read moreIn May, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ACCESSIBLE SCAFFOLDING LTD AGB DEVELOPMENTS DARTFORD LTD ALLIANCE PREMIER LTD ARAB FASHION COUNCIL ARMTHORPE SKIPS LTD BLUE ROCK GROUP LTD BRISCOE OFF LICENCE LTD CASTLE PARK PROPERTY LTD CHINA TOWN LEISURE LTD CITY EXPRESS TRANSPORT LTD…
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Enforcement Agents (bailiffs) will implement a phased return to activity following the lifting of lockdown restrictions. The measures are set out in a Post-lockdown Support Plan announced by the Civil Enforcement Association (CIVEA). CIVEA consulted the government on the Post-lockdown Support Plan that will mean local authorities and courts can safely enforce overdue council tax,…
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Business debt will slow the economic recovery from coronavirus unless steps are taken to make the burden more manageable for small and mid-sized companies according to the Institute of Directors (IoD) In a poll of 720 company directors, half (51%) said that debt their organisation had taken on during the crisis would have a negative…
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Losses at the UK’ top 100 restaurant groups increased 94% to £151 million last year, growing from a loss of £78 million the year before new research at UHY Hacker Young indicates. The top 100 restaurant groups have seen losses worsen in recent years and this trend is expected to continue as restaurants grapple with…
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The High Court Enforcement Officers Association has adopted a new best practice plan for post-lockdown enforcement activity across England and Wales over the coming weeks and months. The post-lockdown plan, entitled “A Flexible and Sympathetic Approach to Enforcement”, sets out the principles, working practices and behaviours that all High Court Enforcement Officers (HCEO’s) and representatives…
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