Credit, Collections & Insolvency News
As Brexit looms ahead, importers and consumers have been affected by raising input costs and a weaker pound. Euler Hermes forecasts an increase in insolvencies by 8% in the UK in 2018. The country is an exception in Western Europe where most countries should experience either a decrease or stabilisation in the number of insolvencies…
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Peer-to-peer (P2P) business lending platform ArchOver, has announced that Bill Johnston will join its board of directors as a non-executive director (NED). In his role, Johnston will support ArchOver in formularising its training and development programme, to ensure it has the right talent in place as it continues to scale. Bill Johnson said “In the…
Read moreAdministration notices have been issued and advertised in the London Gazette for the following companies: A & R MECHANICAL & ELECTRICAL CONTRACTORS LTD A* TRANSPORT LTD ABSOLUTE RUNNING LTD ALTERNATIVE INVESTMENT SOLUTIONS (GENERAL) LTD ARB (SOUND VISION LIGHT POWER) LTD ARISTOCRAT PET SUPPLIES LTD ARMADA TUBE LTD ASCROFT WHITESIDE LTD ASHFIELD ELECTRICAL SERVICES (SOUTH WEST) LTD…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 19 THE MURRAY SQUARE LTD 1ST 4 CONSTRUCTION LTD 1ST STOP TICKETING LTD 3G TRANSPORT LTD 4D CONTRACT FLOORING LTD 5 EURO’S LTD A C CONSTRUCTION (ELLON) LTD A J BUILDERS (CONTRACTS) LTD ABODE (CLAPHAM) LTD ABSEC TECHNOLOGIES…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 04302886 LTD 06373349 LTD 102 (HALIFAX) LTD 109 (BRADFORD) LTD 147 HAVANA LTD 16S TECHNOLOGIES LTD 2C INSTALL LTD 2HG LTD 365 MANAGEMENT SERVICES LTD 3G CLEANING LTD 93LEISURE LTD A & J BUILDING AND ROOFING SERVICES…
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Despite the launch of Open Banking in 2018, new research suggests consumers need more education on the subject, with nearly 58% of people not knowing what Open Banking is. Whilst the new regime went live in January, new research by YouGov, surveying 4,458 British adults on behalf of the challenger bank, CYBG, provides a stark…
Read moreFifty-five percent of UK SMEs are unable to access all funding needed to grow, and without the right knowledge or education on how to obtain it. Research from Liberis has found. Liberis report says that SMEs contribute more than £200bn a year; with this number expected to grow by almost 20% by 2025. The report…
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Aldermore, has appointed Sue Hayes to the newly created role of Group Managing Director of Retail Finance. Hayes will join the Bank in June. Reporting to Phillip Monks, Chief Executive Officer of Aldermore, Hayes will be responsible for managing the existing Bank’s mortgages and savings businesses as well as expanding into new areas. Since its…
Read moreWesleyan Bank has announced it has added to its management team the appointment of Simon Welling as Director of Sales and Marketing. Welling, who joins from Paragon Asset Finance, will report to the company’s Chief Executive, Steve Deutsch. Deutsch, Chief Executive of Wesleyan Bank, said: “Simon will play an instrumental role in the development and…
Read moreNew laws to help protect company directors from identity fraud and personal harm will be introduced by the Government. The new laws will enable company directors to remove their personal addresses from the UK’s official company register on Companies House. Directors must still provide their business address as a legal requirement. This comes in response…
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Small and medium-sized enterprises (SMEs) are increasingly turning to alternative sources of financing, according to a new OECD report. The report also shows that new bank lending is declining in a number of countries. Many SMEs remain over-reliant on bank credit, however, and the take-up of instruments other than straight debt varies greatly from one…
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Trade credit insurance specialist Euler Hermes has warned that future export market may prove to be a bad debt risk after Brexit. The findings come from Euler Hermes annual Collection Complexity Scores and Rating report, which measures the challenges of international debt collection procedures in 50 of the largest economies involved in global trade. The report…
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The British Business Bank’s has published its 2018 Small Business Finance Markets report reveals welcome evidence that the UK’s small businesses are diversifying in their choice of finance. Although still the predominant channel, there are encouraging signs that small businesses are looking beyond their main bank for finance and turning to alternative sources. The value of SME…
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