Credit, Collections & Insolvency News
The Insolvency has published the latest business insolvency figures for England and Wales which indicate that total the underlying number of insolvencies decreased in Q2 2018 but was higher than the same quarter in 2017. The Insolvency Service says this was driven by falls in compulsory liquidations, administrations and underlying creditors’ voluntary liquidations. Corporate insolvencies…
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Vehicle credit management specialist, Anglia UK, has announced that it has appointed a new Business Development Manager. Nathan Keegan joins the business with some 20 years’ experience in the motor finance industry. Prior to joining Anglia he was responsible for sales at the VW Group’s MAN Heavy Truck Division. During his career, Keegan has also worked…
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Recovery firm Andrew Wilson & Co has announced that it will increase the High Court Enforcement Officers (HCEO) team from two to five. Kelly Cookson, 34, Eric Roe, 25 and Joe Hanlon are on course to become three of the youngest High Court Enforcement Officers (HCEO) in the country. High Court Enforcement Officers are authorised by…
Read moreAccording to Begbies Traynor’s Red Flag Alert research for Q2 2018, which monitors the financial health of UK companies, 472,183 businesses were experiencing ‘Significant’ financial distress at the end of June 2018. This is up 9% compared to the same stage last year (Q2 2017: 434,492) but down 1% compared to the previous three months…
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The HM Courts & Tribunals Service (HMCTS) has announced the results of the tender process for Approved Enforcement Agency Services. The provider companies appointed are Capita Business Services, Excel Civil Enforcement, Jacobs Enforcement and Outsourcing UK. In 2017 HMCTS commenced a procurement exercise to re-tender the Approved Enforcement Agencies contracts. Approved Enforcement Agencies act on behalf of…
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Freelancers and micro-business owners throughout are suffering from late payments from clients, new research has revealed. Large businesses continue to pay suppliers late as late invoices payments continue to drive more small businesses into financial distress. The new research from cloud accounting software company FreeAgent has revealed that UK-wide, just 52 per cent of invoices sent…
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Around 17% of companies in Scotland may have suffered a financial hit following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3 in Scotland, the insolvency and restructuring trade body. The Scottish figure is lower than the proportion of UK companies reporting a negative effect…
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The number of failures of UK companies has risen 30.0% to 4,827 in the second quarter of the year, compared to the same period a year ago, according to the latest figures from Creditsafe’s Watchdog Report. The quarterly Watchdog report, which analyses financial data across 12* UK business sectors, showed that high profile high street…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: (EN) 10 (GLOBAL) LTD 1PK LTD 24/7 RESCUE AND RECOVERY UK LTD 3B VISION LTD 3G TOOLING LTD A.S.T. DEVELOPMENTS LTD A1 DEMOLITION LTD A1 HARPREET CONSTRUCTION LTD ABC EVENTS (SCOTLAND) LTD ACCESS SECURE SCAFFOLDING LTD ACM FACILITIES…
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Debt levels among Britain’s listed companies have hit a record high according to new research by Link Asset Services. Link Asset Services’ Debt Monitor report has revealed that listed companies’ debt has increased 69% since 2010/11, with oil companies seeing the fastest increase. The report measures the level of debt taken on by the UK’s…
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Customer non-payment continues to hamper the growth of small subcontractors working in the UK construction sector, according to a study by financial services provider Bibby Financial Services (BFS) and industry experts, The Vinden Partnership (TVP). Findings of the Subcontracting Growth 2018 research, undertaken in the aftermath of the collapse of Carillion, reveal that three-fifths of subcontractors (60%)…
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The Services sector continues to show signs of improvement in business confidence according to the latest results (Q1 2018) from the UK’s Credit Managers’ Index (CMI), the quarterly barometer from the Chartered Institute of Credit Management (CICM). The 1.5-point increase in Services sees the index close at 54.6, a 0.3 percent climb on Q4 2017.…
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A new joint report published by Cranfield School of Management and Dun & Bradstreet has found that risk in supply chain differs by industry sectors. The report has investigated the level of supply chain risk faced by European companies with international supplier relationships. The report used four key metrics – supplier criticality, supplier financial risk,…
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