Credit, Collections & Insolvency News
New research from insolvency firm, Begbies Traynor has revealed that nearly 43,000 retailers ended the period in a state of ‘Significant’ financial distress. According to Begbies Traynor’s Red Flag Alert research for Q1 2018, which monitors the financial health of UK companies, 42,958 retailers were experiencing ‘Significant’ financial distress at the end of March 2018, up 21%…
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Euler Hermes publishes its annual review and forecast of global average Days Sales Outstanding (DSO), based on a sample of 20 sectors and 36 countries. According to the 2017 figures, DSO reached its highest level since 2007 at 66 days. This trend is expected to continue in 2018 with global average DSO to rise by…
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Administration notices have been issued and advertised in the London Gazette for the following companies: ACG CONTRACTS LTD ALAN GRANT GRAMPIAN LTD AMARYLLIS LTD ATKINSON TRAVIS LTD BARGAIN BOOZE LTD BETTERWARE LTD BOB CROSBY AGENCIES LTD BOURGEE RESTAURANTS (CHELMSFORD) LTD BOURGEE RESTAURANTS LTD BOWSER SUPPLY LTD BRITISH THORNTON ESF LTD CHARLES ST LTD CHARON INTERNATIONAL TRADING…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 21ST CENTURY ECO-HOMES LTD 321 TRAVEL LTD 3RD POINT THINKING LTD A S ELECTRICAL SERVICES (SOUTHERN) LTD A. G. AXTON & SONS (WHOLESALE) LTD ABACUS WILLS & TRUSTS LTD ABD CORPORATE SERVICES LTD ACCH (HENDON) LTD ACQUISITION 395448472…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 171 (RETAIL) LTD 208 LTD 21ST TELECOMS LTD 24 7 DISTRIBUTION SPECIALISTS LTD 24HR MANAGEMENT SVS LTD 25/4 2M MEDICAL SERVICES LTD 3 – FIVE – 8 LTD 3 WOOD (UK) LTD 3V LEISURE LTD 427 MOTOR…
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Credit insurer, Allianz Group has completed the last steps to become the sole owner of Euler Hermes. Following the completion of the simplified tender offer the legal conditions were met and Allianz has implemented a squeeze-out on the remaining shares of Euler Hermes it did not hold yet, followed by the delisting from Euronext Paris…
Read moreHalf of the small businesses in the UK are currently operating in the red, according to the latest Small Business Insights published by Xero. According to new data, only 49.5 percent of businesses were operating in positive cash flow last year. Despite the various government initiatives that have been attempted, the UK’s biggest firms are still…
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The Government has announced measures to crack down on the abuse of a specialised financial arrangement to launder dirty foreign money through the UK. Scottish Limited Partnerships (SLPs) and Limited Partnerships (LPs) are used by thousands of legitimate British businesses, particularly the private equity and pensions industry, to invest more than £30 billion a year…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the line-up of speakers for this year’s UK Credit and Collections Conference (UKCCC). Two senior executives from the Financial Conduct Authority (FCA) – Roma Pearson (Head of Consumer Credit) and Richard Fox (Head of Cross-Sectorial & Funds…
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The number of tickets issued to drivers on parking on private land has surged by almost a million in just 12 months to a new high, the latest official data suggests. RAC Foundation analysis of DVLA data shows that in the last financial year (2017-18) 5.65 million sets of vehicle keeper records were released to…
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The Shadow Chancellor has announced Labour’s plans to place a cap on the total amount that can be paid in overdraft fees or interest payments. The move is supported by campaigners, such as actor Michael Sheen, Labour’s says it plans will help an estimated 2.7 million people who according to the Financial Conduct Authority are…
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The Insolvency Service has released the latest numbers business insolvency in Quarter 1 (January to March 2018). The figures indicate that an underlying number of insolvencies (excluding bulk insolvencies) increased to the highest quarterly level since Q1 2014. This was driven by a rise in underlying creditors’ voluntary liquidations and compulsory liquidations. Duncan Swift, vice-president of…
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The Civil Court Users Association (CCUA) has announced that it has secured Susan Acland-Hood CEO of Her Majesty’s Courts & Tribunal Service (HMCTS) as its Keynote Speaker its Annual Conference in Birmingham on 16th October. Commenting on the news Amir Ali Chair of the CCUA said “I got the chance to meet and brief Prime Minister…
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