Credit, Collections & Insolvency News
Atradius has named Marc Henstridge as it’s new Chief Insurance Operations Officer (CIOO). Henstridge will join the Management Board of following the retirement of Dominique Charpentier at the end of 2016. Henstridge has been with Atradius since 1997. As CIOO he is responsible for Instalment Credit Protection, Bonding, Collections, Project & Process Unit and ITS. Over…
Read moreEvery year UK subcontractors are forced to write-off more than £16,000 each, due to unpaid work, according to an industry report. The Subcontracting Growth report by Bibby Financial Services (BFS) found that smaller construction firms are at the receiving end of penalty clauses and disputes with main contractors and other firms over work completed. According to…
Read moreAn overwhelming majority of insolvency and restructuring experts believe the UK’s decision to leave the EU will lead to a rise in corporate insolvencies in the next year, and that the referendum result has already hurt businesses’ finances, according to a survey of its membership by insolvency and restructuring trade body R3. 72% of those…
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Graydon has announced the appointment of Gertjan Kampman as its new Chief Executive Officer as of the 1st of January 2017. Kampman is a senior management member of Atradius, which acquired all shares in Graydon on the 15th of September. He will take over the role of Marcel van Es, who has been responsible for…
Read moreTurkey is the ‘best’ European country in the G20 for UK firms to do business with, according to latest research . The findings, compiled by Creditsafe, have revealed Turkish businesses pay bills to their UK counterparts quicker than any other European G20 country, at an average of 4 days beyond terms (DBT). Creditsafe used its trade…
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Debt recovery specialist J&P Credit Solutions has partnered with the TCM Group, a global network of debt collection providers, to enhance its international recovery services. J&P Credit Solutions currently acts on behalf of a number of clients who look to pursue and recover debt from customers based overseas. The TCM Group is a global network…
Read moreRateSetter has appointed Michael Hoare as Head of Risk Analytics and Retail Credit. Hoare joins from PayPal UK, where he was Chief Credit Risk Officer, overseeing underwriting, customer management and collections strategies for unsecured consumer and small business lending. Before PayPal UK, Michael worked at Capital One, where he held a number of positions including Credit…
Read moreA New report from KPMG and peer to peer lender (P2P) TWINO shows UK leads the way in alternative finance but also suggests that continental European lenders catching up. The report shows that the UK still leads the way in alternative finance, with four times higher volumes in aggregate than the rest of Continental Europe.…
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The Competition and Market’s Authority, (CMA) has conducted a market study into legal services and found that businesses looking to employ legal help often don’t have all the information they need to make an informed choice. This can lead to poor quality service or consumers paying over the odds. Small businesses are disproportionately affected by…
Read moreAlmost half of the UK’s small to medium sized enterprises (SMEs) are being paid late, according to Bacs Payment Schemes Limited (Bacs), the company behind Direct Debit and Bacs Direct Credit in the UK. The average late payment debt now stands at £32,185 which equates to a substantial £26.3 billion total across the 47 per…
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139,000 businesses in the UK are only paying the interest on their debt and not repaying the debt itself, according to new research by insolvency and restructuring trade body R3. The number of businesses in this position – equivalent to 8% of all UK businesses – has returned to levels more in line with previous years…
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The amount of alternative finance available under ‘asset based lending’ to UK businesses reached a record high of £4.3 billion, up 22% in the last year*, says the Asset Based Finance Association (ABFA). The ABFA explains that asset based lending allows businesses to borrow against a range of assets they already own, including inventory, property,…
Read moreOver a third (35%) of entrepreneurial Britain said they would resort to their own personal savings when starting or growing a business, new research commissioned by crowdfunding specialist Crowdfinders has found. The second most popular option in the nationally representative survey of over 2,000 UK adults was banks and institutions (28%). Whereas, 15% – the…
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