Credit, Collections & Insolvency News
Latest Red Flag Alert data has revealed a 78% year-on-year increase in ‘critical’ financial distress as higher taxes on businesses, economic uncertainty and inflation weighed on the UK economy. As of 30th September 2025, 55,530 companies were in ‘critical’ financial distress, a 12.6% rise on the previous quarter (Q2 2025: 49,309). Notably, this rise in ‘critical’…
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The National Association of Commercial Finance Brokers (NACFB) has announced the appointment of Charlotte Loomes as its new Operations Director, as the trade body continues to expand its membership and strengthen its operational capabilities. Loomes joins the NACFB with extensive industry experience, having held senior operational roles at NACFB Patron Arkle Finance and Member firm Tower…
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A proposed £1.7 billion business rates tax increase on large businesses could jeopardise 120,000 jobs, industry leaders have warned. The British Retail Consortium (BRC) and UK Hospitality have expressed concerns over the Chancellor’s plans to raise business rates for superstores, hotels, and restaurants, arguing that it could lead to site closures. The proposals could mean…
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Skipton Business Finance (SBF) has appointed Katrina Nolan as Head of Restructuring and Recoveries. Nolan joins SBF from Close Brothers, where she served as Recoveries Manager (North) since 2019, managing all recoveries across commercial and corporate lending portfolios. Her earlier career includes senior client-care and customer-facing roles at Moorepay and HBOS/Lloyds Banking Group, bringing a…
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The boss of a property maintenance company who lied about his turnover to secure a maximum-value Covid Bounce Back Loan has been jailed. Craig Smith set up C.A.S. Property Maintenance (Midlands) Limited in April 2020. The 42-year-old applied for a Covid Bounce Back Loan in August 2020 using his own name as the loans were…
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Two key enablers of a scheme designed to undermine insolvency legislation by allowing business owners to keep their assets and drop debts have been banned as company directors. Sisters Karen Mortimer and Joanna Seawright put the creditors of 138 companies at risk of financial loss after taking control of the businesses which were referred to…
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Latest Office for National Statistics (ONS) data has shown that inflation held at 3.8 per cent in the year to September. Core Inflation came in at 3.5% in the 12 months to September, down from the 3.6% in August and below the forecast 3.7% forecast by the market Commenting on inflation figures for September, ONS Chief…
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A bankrupt builder who persuaded a customer to pay him more than £30,000 for home improvements he never completed has been sentenced. Wayne Miller deliberately concealed his status as a bankrupt from his victim and abandoned the building project in Canterbury when it was nowhere near finished. He also promised to repay the customer for…
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Plans to retire or step back are the primary motives for business owners looking to sell as part of business acquisition deals, commercial finance brokers have told SME funding provider Asset Advantage. When asked what are the main reasons why business owners are looking to sell, nearly seven in ten commercial finance brokers (69%) said…
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RSM UK is urging businesses to be fully prepared for a cyber-attack, as recent figures from the NCSC (National Cyber Security Centre) show a worrying rise in ‘nationally significant’ cyber incidents. These attacks, which can cause significant business disruption and financial loss for businesses and consumers, have more than doubled already this year. Cyber-attacks are…
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One in five of the 64 profit warnings issued by UK-listed companies during Q3 2025 cited the impact of weaker consumer confidence, the highest proportion recorded for this cause since 2022 and up from just 6% during the same period last year, according to EY-Parthenon’s latest Profit Warnings report. While 19% of all profit warnings referenced falling…
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The UK economy grew by 0.1 per cent in August, according lates to the Office for National Statistics (ONS) data, after contracting by 0.1 per cent in July. The data comes ahead of the Budget next month and new forecasts by the Institute for Fiscal Studies (IFS) which have said that the Chancellor Rachel Reeves…
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UK SMEs say specific Government initiatives designed to help them survive and grow don’t go far enough, according to new research from independent funder, Bibby Financial Services (BFS). The Q3 2025 SME Confidence Tracker, which surveys 1,000 UK SMEs, reveals that over half (52%) of small businesses believe measures such as the Fair Payment Code,…
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