Credit, Collections & Insolvency News
In October the following administration notices have been issued and advertised in the London Gazette for the following companies: AEQUITAS INVESTMENTS LTD ANDREW’S HOMES (ABERDEEN) LTD APEX ENGINEERING SOLUTIONS LTD APPAREL GROUP LTD ARL 011 LTD ARL O09 LTD ARMONDI UK LTD BAYLEAF CLEANING LTD BE THE HOUSE LTD BERKELEY ASSET FINANCE LTD BIOMECANN PLC…
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In October, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ALL ENGLAND GAS SERVICES LTD ALPHA CONTRACTORS LTD ANDERSON MECHANICAL SERVICES LTD ANIMAL HEALTH TRUST ASERGIS TELECOM LTD BARROCHAN LT BB5 LTD BHB PARTNERSHIP LTD BIG SKY PRINT LTD. BLACK ISLE BUILDING SERVICES LTD BLOCKSOURCE LTD…
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On average, sole traders and small businesses expect to receive the payment that they are due 15 days after completing work, new research has revealed. Tide commissioned YouGov to survey small business decision makers, including sole traders, to discover their payment terms, how often they experience late payments, and the actual duration before invoices were…
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The Insolvency Services has published the latest business insolvency figures for Q3 2020 which indicate a 39% fall in number to 2,672, down 9% on Q2 2020, and down 39% on Q3 2019. The fall in corporate insolvencies was driven by a decrease in Creditors’ Voluntary Liquidations (CVLs), though Administrations slightly increased (by 2%) and Company…
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County Court Judgments (CCJs) against businesses in England and Wales fell 58 percent in Q3 2020, compared to the same quarter in 2019, according to new figures by Registry Trust. The number of CCJs against businesses decreased from 37,589 in Q3 2019 to 15,970 in Q3 2020. The total value of CCJ debt owed by…
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The number of decrees against Scottish businesses fell, by 35 percent, from 805 to 525 in Q3 2020 according to Registry Trust’s latest figures. The total value fell by 43 percent from over £3.6 million to just over £2 million. Both the average and median values dropped by 13 percent. The average value fell from…
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The latest Red Flag Alert research for Q3 2020 has recorded that 557,000 businesses are now in ‘significant distress’ after the largest quarterly leap in financially distressed companies since 2017. This 6% increase (from 527,000 in Q2 2020) in the last three months comes despite a backlog of court action preventing many CCJs and winding…
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A new 5-day conference for the commercial credit sector has been launched by Credit Connect in partnership with Aon The Credit Solution Conference, a 5-day event will take place online between Monday 7th December and Friday 11th December. The event content will be hosted by Aon and the event will be facilitated by Credit Connect…
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Shop closures have hit record levels with over twice as many net store closures in the first half of 2020 in comparison to last year, according to research by the Local Data Company and PwC UK. The data shows that 11,120 chain operator outlets have closed this year so far, with 5,119 shops opening, creating…
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The Insolvency Service has published its latest figures which indicate that in September 2020 Scottish company insolvencies decreased by 43% when compared to September 2019. Business insolvencies comprised of 12 compulsory liquidations, 22 CVLs and 9 administrations. There were no company voluntary arrangements or receivership appointments. Historically the volume of company insolvencies in Scotland have been…
Read moreIn September the following administration notices have been issued and advertised in the London Gazette for the following companies: A&C UK GROUP LTD AQUASCUTUM (1851) LTD ARCHANT COMMUNITY MEDIA HOLDINGS LTD ARCHANT LTD ARGONAUT PROPERTY INVESTMENTS LTD ASSIMA UK LTD ATLAS 3T LTD AURUM GLOBE LTD BLACK AND BLACK RECRUITMENT LTD and other companies BOSSA…
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The Government has launched a new consultation that aims to protect small businesses with action on late payments. The Consultation launched aims to give Small Business Commissioner more power to support businesses and resolve late payment issues. The proposed new powers include ordering businesses to pay in good time and issuing fines if they do…
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The resumption of enforcement visits to collect overdue, pre-coronavirus debt to local authorities has been handled successfully one month on, according to evidence from CIVEA, the principal trade association representing over 95% of civil enforcement agencies in England and Wales. The vast majority of visits in the past month have been to enforce fines, traffic…
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