Credit, Collections & Insolvency News
The Ministry of Justice (MOJ) has announced a call for evidence to review of enforcement agent (bailiff) reforms. The call for evidence asks about people’s experiences of the 2014 reforms which regulate how enforcement agents (bailiffs) operate and to end what it calls intimidating practices and to better protect vulnerable people. The consultation has been…
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Mid-size and Northern companies have the highest insolvency risk according to analysis from new statistics published by the Government. R3 has reviewed the number of England & Wales corporate insolvencies in 2017, broken down by company age, size and location. The research has found that: Enterprises aged 4-9 years old, or with turnover of £0.5-1m,…
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Judgments against businesses in England and Wales jumped nearly a third during the third quarter of 2018, compared with the same period a year ago, according to figures released today by Registry Trust. During Q3 2018, there were 32,629 CCJs against businesses in England and Wales, 32 percent more than in Q3 2017. The total…
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The number of business debt judgments registered in the Republic of Ireland during the third quarter of 2018 fell to the lowest levels on record for any third quarter, according to figures released today by Registry Trust. In Q3 2018, 137 business judgments were issued, 10 percent fewer than Q3 of last year and the…
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The number of debt decrees registered against Scottish businesses rose by more than a third during the third quarter of 2018, according to figures released today by Registry Trust. There were 754 decrees issued against all businesses in Scotland during Q3 2018, 34 percent more than during the same period the previous year. A 44…
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Rule-breaking bailiffs are causing people increased stress, anxiety and financial hardship, according to new research published today by Citizens Advice and StepChange. The charities are calling for the government to step in and regulate the industry to prevent more people suffering at the hands of debt collectors who flout the rules. New figures reveal that…
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Anglia UK is ending the year with a third key senior appointment. The credit management, haulage and dealership auditing firm has appointed Claire Mitchell as its new Head of Operations. Mitchell joins the company with some 30 years’ experience in the vehicle finance industry having previously worked at a senior level for Lombard Asset Finance,…
Read moreAnalysis of figures from the Insolvency Service shows that 1,123 restaurant companies have become insolvent so far this year. This compares to 833 in the first nine months of 2017 and 1,075 in the whole of last year. Further analysis from accountancy firm Price Bailey shows insolvency rates within the sector have risen by 35%…
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A growing number of small business owners and self-employed people are facing high levels of debt as they struggle to keep their businesses afloat, according to new research from Business Debtline. Findings show that half (49%) of the people contacting the service last year had debt totaling £10,000 or more, with nearly a quarter (23%)…
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Changes in the Autumn Budget which will see HM Revenue & Customs (HMRC) take up a position as a preferred creditor in insolvency cases, could see smaller firms lose out on money they are owed, warns insolvency firm, Gibson Hewitt. Gibson Hewitt says that changes in the Budget to the pecking order for creditors could…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1ST CALL SUPPORT LTD 1ST CRT GROUP LTD 3 COUNTIES DAMP & TIMBER (UK) LTD 3473 LTD 365 CATERING LTD 3N MANAGEMENT LTD 5MU PROPERTIES LTD A & C SOLUTIONS LTD A FRANCE INDUSTRIAL ROOFING & WALL CLADDING…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 93 MILESPIT HILL LLP AMERICAN GOLF DISCOUNT CENTRE LTD ARCH ANGELZ LTD ARENSIS ENERGY ONE LTD ASSURED STORAGE SOLUTIONS LTD ATTICROSE LTD BANHAM GROUP LTD BANHAM POULTRY LTD BEACH HOLIDAY HOMES LTD BENTLEY HARRINGTON LTD BETA DISTRIBUTION PLC BLOCKLAB LTD BLUE…
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The time it takes to pay suppliers across the UK has improved by 14 percent, with payments taking on average 42 days in 2018 compared to 49 days in 2016. The data compiled by Tungsten Network, shows that the time from invoice submission on its network to payment has steadily improved since 2016, coinciding with…
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