Credit, Collections & Insolvency News
The UK’s two leading enforcement association trade bodies the Civil Enforcement Association (CIVEA) and the High Court Enforcement Officers Association (HCOEA) and Just have welcomed the High Court judgment on non-entry Controlled Goods Agreements. CIVEA, the HCEOA and Just have issued this joint statement which also invites the Ministry of Justice (MoJ) to review the…
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A new report by the Credit Services Association (CSA) says that taxpayers could be saved huge sums if debt collectors are allowed to take on a bigger role in collecting unpaid coronavirus loans. The trade body is calling for an investment in BBL Engagement Scheme and use of professional collections agencies to ensure fair and…
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Almost 30,000 job losses were recorded across restaurants and casual dining firms in 2020, with the coronavirus crisis driving a 163% jump in job cuts as restrictions designed to fight the spread of the virus hit the sector according to new figures compiled by The Centre for Retail Research. The research highlighted major closure proposals…
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In December the following administration notices have been issued and advertised in the London Gazette for the following companies: 100 CLERKENWELL ROAD LTD 254 KILBURN HR LLP AFAN VALLEY LTD ATLANTIC BAY HOTEL (WOOLACOMBE) LTD AG SAFEBOOTHS UK LTD ALLANDER PRINT LTD ALPINE ELEMENTS LTD ALVIS HOUSE LTD ANIMA VINCI LTD ARCADIA GROUP LTD ARCHANT…
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Credit Connect has published its second annual Credit & Collections Technology company power list for 2020. The power listed is a round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements and successes of the top-performing companies. The…
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Office for National Statistics (ONS) survey data has indicated that over one in four (27.9%) of UK pub and bar operators have fears that their business would fail even before the latest coronavirus lockdown restrictions were announced. Meanwhile, less than one in five (19.1%) of responding pub and bar businesses had high confidence in surviving…
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New figures from the Insolvency Service have shown that business insolvencies in England and Wales increased by 4% in November 2020, with 889 business insolvencies in November 2020 compared to October’s figure of 862, and were 41% lower than November 2019’s figure of 1,512. However, business insolvencies in November 2020 fell by 41% compared with…
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In November the following administration notices have been issued and advertised in the London Gazette for the following companies: A SKIPS & WASTE LTD A.C.K. MATERIALS HANDLING LTD A2B PLASTICS LTD AIRPORT PARKING RENTALS (GATWICK) LTD AIRPUSH INC AJS PROPERTIES 2018 LTD APB INVESTMENTS (EAST YORKSHIRE) LTD APS-SELECT LTD AUTOMOTIVE BEARINGS LTD BALL. ROLLER &…
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Law firm JMW Solicitors has warned of a flood of insolvencies in Spring 2021 which risks paralysing the Courts. The firm’s analysis shows that corporate insolvencies adown circa 42% year-on-year in October 2020; whils Creditor Voluntary Liquidations, are down 36%, there is a decrease of 76% for Compulsory Liquidations and a decrease of 35% for…
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Department store chain Debenhams is to be wound down after Christmas, with the loss of up to 12,000 jobs and closure of 124 stores. The first branch closures are expected in the new year, with all expected to close down by the end of March. Debenhams has been trying to find a buyer but its…
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Latest figures from the Insolvency Services have shown that corporate insolvencies decreased to 856 in October 2020 compared to September’s figure of 925, and remained well below October 2019’s figure of 1,485. The overall number of company insolvencies decreased by 42% in October 2020, when compared to the same month last year. This was primarily…
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The Insolvency Service has published its latest figures which indicate that in October 2020 Scottish company insolvencies decreased by 47%. The figures show that. In October 2020 there were 44 company insolvencies in Scotland, a reduction of 47% in comparison to October 2019. The insolvency figures comprised of 11 compulsory liquidations, 27 CVLs, five administrations…
Read moreAccountancy firm RSM has called on the Chancellor to urgently consider a twelve-month delay to the introduction of HMRC’s preferential creditor status. This change, due to come into effect on 1st December 2020, will have the dual effect of limiting funding and restructuring options for businesses, which RSM believes will undermine the current rescue culture…
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