Credit, Collections & Insolvency News
David Matthews has been appointed the new Vice President of the ICAEW. Matthews joined ICAEW Council in 2010, and has previously served on the Institute’s Professional Standards Board as well as, currently, the Board of the ICAEW and Chair of its Technical Strategy Board. Matthews joined KPMG after graduating from London School of Economics in…
Read moreThe number of Scottish companies at higher than average risk of insolvency rose markedly over the course of 2017, according to insolvency and restructuring trade body R3. In December, 26.6% of Scottish firms fell into the category of companies at greater than usual risk of insolvency, up by 36% from January 2017, when the equivalent…
Read moreAsset finance provider, Haydock Finance has announced that Apollo Global Management has signed an agreement to acquire a majority shareholding in th company, investing alongside Haydock’s founder and Executive Chairman Jon Wilkinson. The agreement is subject to customary conditions and is expected to close in Q1 2018. Established in 1980, Haydock is one of the…
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Specialist small business lender, Ashley Finance, has appointed Scott Brown as its new Regional Sales Director for the West Midlands. Brown joins from RBS Invoice finance, where he had a successful three years within the commercial finance team. Prior to that, he spent four years covering the Birmingham area for Natwest’s commercial finance division and,…
Read moreAIM-listed specialist independent provider of finance facilities, 1PM has announced the proposed acquisition of MH Holdings (UK) Limited, the holding company for Academy Leasing Limited for up to £12m. Academy Leasing has grown organically since its launch in 1987 to become one of the UK’s leading providers of equipment and vehicle finance. The acquisition will allow Academy…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 7% in October, compared with the same month last year. The plant and machinery finance and business equipment finance sectors reported new business up in October by 6% and 13% respectively, compared…
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Data Interconnect has announced background to a major financial investment, in a move that supports a hefty growth strategy, using research and development (R&D) as a strengthening resource. Tom Dodd-Noble, Managing Director of Data Interconnect said “Investing in growth isn’t just important for the long-term success of our business – it’s also important for the…
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Insolvency and restructuring trade body, R3 has responded to the Insolvency Service’s announcement that the government is to undertake an assessment of the Graham reforms of pre-pack administrations. Duncan Swift, deputy vice president at R3 said “The Government’s review is expected and is a good opportunity to examine the role pre-pack administrations play in the…
Read moreThe latest Disposable Income Index (DII) published today by ISA provider Scottish Friendly has revealed that many British families feel pressure to create the perfect Christmas and are taking out loans or spending more on credit cards in order to buy gifts. Nearly six in ten households say they make sacrifices to buy Christmas presents…
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With the average cost of Christmas topping £700 for UK households, 40% of people have been forced to make sacrifices to pay for this year’s festivities, including cutting back on heating, clothes and food shopping, taking on an extra job and even selling belongings, according to new research out today.* The run-up to Christmas can…
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Over a third of UK shoppers say they will be able to spend less on their Christmas shopping this year compared to 2016, the latest Christmas Barometer™ from Ferratum has revealed. The survey, which collected the opinions of 21,000 consumers across Ferratum Group’s 20 country locations, revealed that 33% of the UK public have become…
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The Central Bank of Ireland has today published its second edition of the 2017 Macro-Financial Review (MFR), which provides an overview of the current state of the macro-financial environment in Ireland. Despite a global economic recovery that continues to strengthen, the Review highlights a range of risks to the Irish economy and financial system. The…
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The Office for National Statistics (ONS) has published its latest UK consumer price inflation figures which show that the Consumer Prices Index was at 3.1% in November 2017, up from 3% in October 2017 and at its highest since March 2012. Commenting on the ONS figures Jane Tully, Director of external affairs at the Money…
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