Credit, Collections & Insolvency News
Vulnerable people who fall behind with Council Tax payments will have greater protection from aggressive debt enforcement under new plans to improve the way councils collect arrears. Following concerns from charities, debt advice bodies and local councils, ministers are moving forward with work to create a fairer, more efficient and compassionate debt recovery system. Local…
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The Small Business Commissioner, Paul Uppal, has highlighted poor supplier payment practices at Holland & Barrett, following the publication of his report into a late payment complaint made by a small business. The official complaint was logged with the Small Business Commissioner by the London-based technology consultancy after Holland & Barrett failed to pay a…
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Almost 115,000 businesses waited an average of 57 days for payment in 2018 with more than 1,000 of these subsequently entering insolvency as a result, according to new data from insolvency specialist Begbies Traynor. The data, which was gathered from more than 1 million debtor day reports since 2011, also revealed that of those 1,000…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 06606420 LTD 119 MARYLEBONE ROAD TENANT LTD 3A’S CONSULTANCY LTD 56 EP LTD A & D MAINTENANCE CO. LTD A HERITAGE WINDOW CO. LTD A M PROPERTY MANAGEMENT SERVICES LTD A W CLEAVER HAULAGE LTD ABS SCAFFOLDING LTD…
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Administration notices have been issued and advertised in the London Gazette for the following companies: A. & J. FABTECH LTD ABILISOFT LTD ACCESSIBLE TRANSPORT GROUP CONTRACT SERVICES LTD ACCESSIBLE TRANSPORT GROUP LTD AKTIS STRATEGY LTD ALLERFORD HOLDING LTD ALLERFORD INTERMEDIATE NEWCO LTD ALTIMA LIGHTING LTD AMBITEMP (M&E) LTD ARCH HALL LTD ARCH HALL SOUTH LTD ASHFIELD…
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Videalert, a supplier of intelligent traffic management and enforcement solutions to local authorities, has been acquired by enforcement services group Marston Holdings. The announcement follows successful deployments for a number of Marston’s strategic clients, including the London Borough of Barnet, the Royal Borough of Kingston upon Thames and the City of Westminster, where Videalert has…
Read moreA new economic research report from Atradius forecasts that global insolvencies are set to grow for the first time in 10 years. The Insolvency Forecast reports an expected rise in insolvencies of 7% in the UK in 2019, the highest increase of all advanced markets. The insolvency outlook has deteriorated following a sharp loss of…
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The number of business insolvencies across the UK has risen by a fifth over the past three years, according to the latest figures from the Insolvency Service. 17,439 businesses entered into insolvency procedures last year — up approximately 100 from 2017 and an increase of 2,851 insolvencies from the figure in 2015. The number of…
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The inaugural Commercial Credit & Collections conference has confirmed its agenda for its forthcoming event at the Leadenhall Building on Friday 5th April. CVR Global and Aon’s Commercial Credit & Collections conference agenda includes speakers from Chartered Institute of Credit Managers (CICM) and Eversheds Sutherland. With Brexit on the horizon, the event will open with…
Read moreBusiness rate debts worth more than £130,000 have been written off by Stafford Borough Council. The authority also agreed to write off one council tax debt of £3,205.56 at its cabinet meeting on Thursday, alongside the 18 business rate arrears cases totalling £130,444.24. The businesses involved have not been publicly identified, but the meeting was…
Read moreSmall businesses across the UK are facing major cash flow pressure, leading to increased financial instability as a direct result of a late payments culture. This is according to Duff & Phelps, the global advisor that protects, restores and maximises value for clients. With recent research showing that small businesses in the UK are facing…
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Large companies will have to report on their payment practices every year in the first step of a crackdown to end small businesses being paid late, the Chancellor has announced as part of the Government’s spring statement. Philip Hammond said the Government will require companies to review their payment practices through their audit committees, with…
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Small businesses want the Government to use today’s Spring Statement to show that the Government is serious about tackling poor payment practices in the UK. At last year’s Spring Statement, a Call to Evidence on late payments was announced with the Chancellor pledging that the Government would eliminate the scourge of late payments. This pledge…
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