Credit, Collections & Insolvency News
Henry Howard Finance Group has announced it has appointed a new Group Chief Financial Officer (CFO). Mark Tweed will join Henry Howard Finance in October, where he will take up responsibility as Group CFO and Head of Legal. Tweed joins from Opel Vauxhall Finance, where he was held various pan European CFO and CEO roles…
Read moreAldermore’s latest Future Attitudes report has found that just under two thirds (64%) of bosses of UK’s small and medium-sized enterprises (SMEs) have no clear plan in place to ensure that their business does not suffer when key staff leave. This equates to 3.52m companies with fewer than 250 employees and is an increase from…
Read more
Peer-to-peer business lender, Assetz Capital, has announced the appointment of Chris Macklin as Chief Risk Officer. With over 35 years of experience at RBS/NatWest, including four years as head of complex customer management and strategic relationship management, Macklin brings to the company a wealth of knowledge and experience in strategic, credit and risk management within the financial…
Read moreThe Insolvency Practitioners Association (IPA) has announced the appointment of Michelle Thorp as Chief Executive with effect from 10th September. Thorp joins the IPA from the Department for International Trade where she was Digital, Data and Technology lead and a major project leader for the Cabinet Office, specialising in strategic organisational change. Shehas almost twenty…
Read moreThe total value of adverse county court judgments (CCJs) against businesses recorded in England and Wales rose sharply during the first half of the year, according to figures released by Registry Trust. In Q1 and Q2 2018, 63,452 CCJs were registered against businesses in England and Wales. Rising 19 percent compared to the same period…
Read more
The Government has announced new tools that will improve rescue opportunities for financially-distressed companies. The measures have been announced alongside new reforms that will help the Government tackle reckless directors and improve corporate governance to protect creditors, employees and other stakeholders in companies approaching insolvency. Proposed reforms will help strengthen the UK’s business environment which is a…
Read more
Business Secretary Greg Clark has announced new powers to ban company directors. The new directive intends to target directors who have dissolved companies to avoid paying workers or pensions meaning that director could be disqualified or fined by authorities for the first time. The new measures also aim to give more time to rescue struggling…
Read more
UK Finance has published its July Business Finance update indicating that lending to manufacturers grew by 7.1 per cent in the last 12 months, in contrast to a wider 2.2 per cent contraction overall in UK business borrowing. Whilst K business deposits for non-financial companies grew by 1.9 per cent in the last 12 months. Commenting…
Read morePeople in the poorest third of households have accounted for over half of the increase in employment since the start of the financial crisis, according to new analysis published by the Resolution Foundation. The analysis, which looks at how close Britain is to full employment, shows that of the 2.1 million increase in employment between…
Read more
Personal insolvencies are on track to hit 105,000 per annum by 2022, breaking highs last seen six years ago, according to the latest econometric forecast from Arrow Global’s ‘Debt Britain 2018’ research. Analysis shows that personal insolvencies have been on the increase since 2015 and rising interest rates on the back of the Bank of…
Read more
New research from Hitachi Capital Business Finance has indicated that the number of small businesses predicting growth for the next three months has hit its lowest level for more than a year – and the amount predicting they will struggle to survive or close has doubled from 5% to 10% in just three months. Hitachi…
Read more
Fears over Brexit appear to be increasing businesses’ perception of the risks in their supply chain, despite evidence suggesting many have taken steps to ready themselves for a post-Brexit environment, a new report has found. The Q2 2018 Global Supply Chain Risk Report, published by Cranfield School of Management and Dun & Bradstreet, investigated the…
Read more
More than three in five small businesses (63%) are dealing with late payment issues – and the smallest businesses are those most at risk of dealing with non-payment – according to new research from Hitachi Capital Business Finance. With reports that 50,000 SMEs a year close their doors as a result of late payment –…
Read more