Credit, Collections & Insolvency News
Hitachi Capital UK has announced it has acquired of Franchise Finance, a specialist financial services provider to the franchising industry. The transaction boosts Hitachi Capital UK’s lending base to SMEs and franchisees, bringing considerable senior consultancy experience to the Group and helping to build a profitable portfolio within an underserved market. The acquisition also enables…
Read moreA large majority of brokers think they will increase the amount of bridging finance they do over the next 12 months, according to a broker survey by specialist bridging lender Hope Capital, with 97% of broker saying that they are more than happy to work with unregulated lenders. Hope Capital’s survey revealed that for more…
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New figures from a finance industry survey have shown that restricted cash flow and lack of bank support are the top challenges facing SMEs – but that the majority of advisers would recommend alternative finance to unlock the path to growth. The survey of the UK’s advisory professionals’ community by alternative finance specialists ThinCats showed…
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Just over half of all technology and IT companies in Scotland are at higher than average risk of insolvency in the next 12 months, according to new research from insolvency and restructuring trade body R3. The percentage of IT companies in the negative band (50.1%) in June 2018, equating to 5,600 firms, is a steep…
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The proportion of firms citing cyber attack as a key risk has increased for the third consecutive time in the Bank of England’s Systemic Risk Survey. The survey highlights perceived risks to the UK financial system. Although overall confidence in the UK’s system has increased, the number of firms who perceive cyber attack as a risk has increased…
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A new report by Coface has found that that there is a high number of signals of risk in Q2 2018, which is reminiscent of the situation in the years 2012-2013 when the rise of sovereign spread in the Eurozone, increased protectionism, higher oil prices, capital outflows from major emerging countries, global trade on the…
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Over a quarter (26%) of UK companies have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3, the insolvency and restructuring trade body. The research found the financial impact of the insolvency of another business was described as…
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UK Finance has published its latest business update for May 2018. The key findings from the report include: Lending to manufacturers grew by 5.1 per cent in the last 12 months, in contrast to a wider 2.5 per cent contraction overall in UK business borrowing. UK business deposits grew by 3.1 per cent in the…
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House of Fraser has announced that it has gained approval from its creditors to enter into a Company Voluntary Arrangement (CVA) which will see the closure of 31 of its 59 department stores and the loss of around 6,000 jobs. Landlords for the company have indicated their dissatisfaction with the plans and say they may…
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A new study by Dun & Bradstreet examining the current state of the compliance and procurement functions, as measured through professional sentiment on related issues like regulation, fraud, technology, and resource has found that increasing regulation continues to be the chief concern for professionals in these industries, while the overall outlook sentiment is positive. The…
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Credit risk analytics expert, Jaywing, has announced a new partnership with specialist SME bank Hampshire Trust Bank (HTB). Increasing regulatory demands on small banks via their ICAAP and SREP poses new challenges to firms who need to be able to actively identify, understand and manage all aspects of risk that their organisation faces in the…
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An independent study commissioned by Dun & Bradstreet reveals a UK business community that believes it has already lost out due to the EU referendum. When asked how the Brexit process has affected business finances, 43% of business leaders say they have felt a negative financial impact since the Brexit vote. More than a third…
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The Federation of Small Businesses (FSB) is calling on the Government to accept a raft of public procurement reforms that will promote supply chain best-practice and unlock the potential of the UK’s 5.7 million small businesses. Data from the latest FSB report, ‘Chain Reaction: Improving the supply chain experience for smaller firms’, shows that 25%…
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