Credit, Collections & Insolvency News
Administration notices have been issued and advertised in the London Gazette for the following companies: 06132417 LTD ACADEMY CLASS LTD ACCURATE LASER CUTTING (LEEDS) LTD ADVENTURES IN FURNITURE LTD AIR AND CARGO SERVICES LTD ALCHEMY FACILITIES LTD ALMTONE LTD AMICUS FINANCE PLC ANOTHERDATE LTD ATLANTIS ENTERPRISES LTD AVIDEAN LTD BADDOW HOSPITAL COMPANY LTD BARNSDALE HILLS LTD…
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Insolvency specialist, Begbies Traynor, expects corporate failures to continue rising next year, as continuing Brexit uncertainty and the tough high street climate take their toll. Begbies Traynor’s made the prediction as part of their latest results announcement which indicates that profits and revenues were up in the six months to October on the back of…
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The Justice Committee has launcheed an inquiry into the enforcement of debt by bailiffs (also known as enforcement agents) in England and Wales. The Committee’s inquiry will run alongside an Ministry of Justice (MOJ) consultation and will focus on High Court and Civil Enforcement Officers, who collect debts such as Council Tax, parking fines and utility…
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Enforcement specialist Newlyn has announced the appointment of Paul Sharpe as its new Managing Director. Sharpe will join the Newlyn team in January 2019. Sharpe is a highly experienced figure who, since 1985, has worked within the enforcement industry; firstly with John Crilley and Son and latterly with Equita, where he held the position of…
Read moreData from the winners and finalists of the second annual Credit & Collections Technology have been collated and are now available as part of a report reviewing the 2018 event. The Awards report highlights the unique and transparent ethos of the scheme by providing graphs, statistics and judges comments which highlight the results. The Awards event,…
Read moreAccountancy firm Wylie & Bisset, has said that the reintroduction of preferred creditor status for HMRC in insolvencies is a regressive ‘stealth tax’ that will ultimately be paid for by SMEs and is simply another way of raising revenue for the government. Preferred creditor status for HMRC was withdrawn in 2003 as part of the…
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New data released by Creditsafe, examining the rate of company failures across 12 UK business sectors, reveals 0.33% of companies in the Hospitality sector failed in Q3 2018. Across the Hospitality industry – inclusive of hotels, restaurants and bars – there were 591 company failures, compared to 330 in the same time period in 2017.…
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Administration notices have been issued and advertised in the London Gazette for the following companies: ACKRILL NEWSPAPERS LTD ADD PRECISION LTD AIR TRAMPOLINE (CARDIFF) LTD AIR TRAMPOLINE (SWANSEA) LTD AJ WAY LTD ALFA ENGINEERING GROUP LTD ANGLIA NEWSPAPERS LTD ASPIRE CRAFTS LTD ATKINSON PRECISION LTD ATLAS BUSINESS INTERIORS LTD AUTILLA LTD BANDERA LTD BENITA FOOD LTD…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 0161 LETTINGS AND MANAGEMENT LTD 1ST PLATINUM INVESTMENTS LTD 2M PRINT LTD 2W CONSTRUCTION LTD 360 BUSINESS PARTNERS LLP 3B LOGISTICS LTD 3RD LEG LTD 404 ENTERPRISES LTD 44 LONDON LTD 777 FOODS LTD 7HILLS MECHANICAL LTD A…
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The Government should introduce a tougher regime to tackle larger companies who treat small businesses ‘disgracefully’ by enforcing long payment terms or paying their suppliers late, says the Business, Energy and Industrial Strategy (BEIS) Committee in a report published today. The Small businesses and productivity report says that for a small and medium-sized enterprise (SME) to succeed…
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Small and medium size enterprises (SMEs) with a turnover between £6.5 million and £10 million and a balance sheet up to £7.5 million will soon be able to have their banking and finance disputes reviewed and redressed through alternative dispute resolution arrangements, following the creation of a specialist ombudsman service with the expertise and powers…
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Debt charity, Business Debtline, has called for further action to support small business owners and self-employed people affected by late payments, where businesses are uncertain when the money they have earned will be paid. In its response to the Department for Business, Energy and Industrial Strategy’s call for evidence on tackling late payments, the charity…
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The average small business is owed £24,841 in late payments according to research by accounting software provider Xero.On any given day, 78% of businesses are owed money outside of agreed payment terms. The research was based on data taken from two million invoices issued by Xero’s UK small business subscriber base which showed that in…
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