Credit, Collections & Insolvency News
Ofgem has announced that British Gas Business is to pay £9.5 million in redress, following failings in its registrations, complaints handling and billing processes for business customers. British Gas Business implemented a new IT billing system in March 2014 which left tens of thousands of its business customers with delayed and inaccurate bills. Over 6,000…
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Anglia UK, is celebrating two decades of solid growth by employing new staff. Anglia was set up by Managing Director Mark Scotney in 1997 as a small firm specialising in vehicle repossessions for the car finance industry. Since that time it has grown steadily to the point that it now employs 85 people with an annual…
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The final quarter of 2016 saw a surge in economic confidence and a positive outlook on business growth, according to preliminary findings from the UK’s Credit Managers Index (CMI). Early indications from the Chartered Institute of Credit Management’s (CICM) quarterly barometer, show a 4.5-point increase in the headline result to 59.8. This represents the Index’s highest score since…
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Analysis from KPMG has shown that 2016 saw the reversal of a six year downward trend in levels of insolvency for British businesses, following an uptick in companies entering into administration in the second half of the year. The numbers, taken from notices in the London Gazette, show that 1,174 companies, or groups of companies, entered…
Read moreCitizens Advice has launched a brand new league table allowing millions of small business owners to compare how well energy suppliers are handling their complaints. The new ranking – which will be published quarterly – measures how effectively energy suppliers are dealing with complaints from small business customers across Great Britain. It follows the charity’s…
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Independent Growth Finance (IGF) has appointed Nick Price as CFO. Before joining IGF, Price held the Interim CFO position at OakNorth, following a six year career at Close Brothers where he was Finance Director for the Commercial Division; previous employment includes KPMG, Goldman Sachs and Deutsche Bank. John Onslow, Chief Executive Officer of IGF said…
Read moreShawbrook Bank has announced the appointment of Neil Jones as Head of Asset Based Lending within its business finance division. Jones said “Shawbrook is well known for its quality of products and services in the asset-based lending community, and has built a solid reputation in structuring and managing new and existing transactions. The range of…
Read moreUltimate Finance Group has announced four new senior appointments across the business, New hires include Steve Noble, who takes the role of Chief Operating Officer (COO). Noble comes with over two decades of experience in the financial services arena, having held senior roles at high street banks and challenger organisations, and is the latest addition to…
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Dun & Bradstreet has become a Corporate Partner to the Chartered Institute of Credit Management (CICM). Dun & Bradstreet will work closely with the CICM to provide insight from its payment data in support of the Prompt Payment Code and will also continue to be active at the CICM’s quarterly Think Tank meetings. Ed Thorne,…
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Nearly half (47%) of small and medium-sized business (SME) owners claim the business advice they received in the last year from their mainstream bank had a negative impact on their business operations and one in six (16%) of these suggested their business is now in a worse position as a result. This is according to…
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Platform Black announced it will be changing name to Sancus Finance with immediate effect. The move comes as part of a strategic review of operations by Platform Black’s owners, GLI Finance Limited (GLI). The strategic review, designed to simplify GLI’s structure, included a transfer of its holdings in Platform Black to the newly formed Sancus…
Read moreHMRC recovered an extra £3.17billion in underpaid VAT from large businesses as a result compliance investigations undertaken by the Large Business Directorate over the last year* says Pinsent Masons. Pinsent Masons says that although this is slightly less than the £3.38billion it collected the previous year, VAT enquiries are by far the highest yielding area…
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Over 760 businesses ceased trading in December 2016 with 1093 small businesses scheduled to cease trading in January according to research, carried out on behalf of London insolvency practitioners Hudson Weir. The research reveals that 14.5 per cent of these companies were operating in the retail and food and drink sectors. This means at least another 110…
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