Credit, Collections & Insolvency News
Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09155717 LTD 1313 BATH LTD 2391 ELECTRICAL SERVICES LTD 404 ENTERPRISES LTD A MORREY DISTRIBUTION LTD A PROPERTY MANAGEMENT LTD A STUDIO LTD ABER HOUSE LTD ABSOLUTE WAREHOUSE SOLUTIONS LTD AC BOLTING AND TESTING LTD ACCESS SECURE SCAFFOLDING…
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Administration notices have been issued and advertised in the London Gazette for the following companies: AIR MANAGEMENT SYSTEMS LTD ALBERT ROAD RECOVERY AND REPAIR LTD ANGLEWEST LTD ATLANTIC HOUSE LTD BACTEST LTD BAKER CONSULTANTS MARINE LTD BENCH LTD BILL LEWINGTON LTD BIRAKOS ENTERPRISES LTD BLUE SQUARE BUILDING LTD BOURGEE RESTAURANTS (BURY ST EDMUNDS) LTD BOURGEE RESTAURANTS…
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A new report by Atradius has forecasted that global GDP is set to accelerate to 3.2% in 2018, the strongest annual expansion since 2011. However, the chances of it improving for a longer period appear to be lower than expected. This is largely due to the increase in US protectionist measures and their potential for…
Read moreAlternative business lender ThinCats has announced that it has appointed Greg Beamish to join ThinCats credit team as Head of Credit. Beamish joins with twelve years of investment experience ranging across secured credit to distressed equity, with the latter 8 years focused firmly on the SME space. His experience comes through working at institutions including…
Read moreReforms should be made to improve the effectiveness of Company Voluntary Arrangements, a common High Street insolvency procedure, according to research commissioned by insolvency and restructuring trade body R3 and supported by ICAEW. The research report, produced by the University of Wolverhampton and Aston University, recommends a cap on CVA lengths, more time for companies…
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The total number of defaults and small claims judgments issued in Northern Ireland during the first quarter of the year rose to the highest levels since Q1 2012, according to figures released by Registry Trust. There were 2,242 small claims judgments in Q1 2018, 16 per cent more than during the same quarter last year…
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Big business has been put on notice by the Federation of Small Businesses (FSB) and warned that they must do more to end late payments, poor payment practice and supply chain bullying that is damaging the UK economy. A letter from FSB National Chairman, Mike Cherry, to all FTSE 100 companies urges Chairs and CEOs to…
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Businesses in the UK have reported decreasing bad debt losses in a sign of a strengthening economic environment. On average, businesses wrote off 2 percent of annual revenue due to non-payment in the past 12 months; a decrease from the 4.7 percent reported by UK companies in 2017. The findings are part of the European Payment…
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Latest statistics from the UK Finance’s business finance for April 2018 has revealed that UK business borrowing contracted slightly by 1.7 percent in the last 12 months. However, within industry sectors, there was a mixed picture with manufacturing maintaining strong growth at 8 percent while construction contracted by 6.3 percent in the year. In addition, UK business deposits grew…
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As a strong sign of a stable economic development in the majority of Europe, businesses are reporting decreasing bad debt losses. On average, 1.7 percent of the yearly revenue had to be written off due to non-payments in the past 12 months; a decrease compared to the 2.14 percent reported by European companies in 2017…
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Law academics will undertake research relating to ethics in insolvency proceedings which could impact on best practice in the future. Dr Lézelle Jacobs from the University of Wolverhampton Law School has been awarded £10,000 from INSOL International to carry out research: Corporate Insolvency Practitioners, Ethics and Remuneration: A case of Moral Bankruptcy? The research project…
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The number of small firms planning to decrease investment has hit an 18-month high, according to new research from the Federation of Small Businesses (FSB). It was announced on Friday that UK business investment fell to £46.1 billion between Q4 2017 and Q1 2018. Seven in ten (69%) small firms are not planning to increase…
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The number of debt decrees registered against Scottish companies sharply rose during the first quarter of 2018, according to latest figures released by Registry Trust. There were 750 decrees issued against all businesses in Scotland during Q1 2018, four percent more than during the same period of the previous year. A massive 39 percent rise in…
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