Credit, Collections & Insolvency News
A Covid fraudster who bought a house in Huddersfield using Bounce Back Loan funds has been jailed. Mohammed Rashidzadeh appointed solicitors to help him buy a three-bedroom semi-detached house in the Almondbury area of the town just two days after receiving the £50,000 loan in June 2020. The 34-year-old also attempted to strike his Cozy…
Read more
The former boss of a hotel on the Isle of Skye has been banned as a director after his company went into liquidation owing more than £400,000 in VAT. Campbell Dickson was the director of Caledonian Skye Ltd, which traded as The Portree Hotel on Somerled Square in the town. Caledonian Skye Ltd went into…
Read more
Credit Connect Media hosted its second Commercial Credit & Collections Conference of the year last week in Tower Hill in London, which saw over 35 trade credit and insolvency professionals from various industry sectors meet to discuss the latest industry challenges. The Commercial Credit & Collections Conference hosted three themed round tables following an economic…
Read more
A businessman has been disqualified after acting as a director of a company for two years while he was bankrupt. Scott Dylan was banned as a company director for eight years following a hearing at the High Court in Manchester earlier this month. The Insolvency Service found that Dylan had acted as a director of…
Read more
A former Director General of the Institute of Directors, who was nominated for a prestigious businesswoman of the year award has been disqualified as a company director for Covid loan abuse. Anna Daroy served as interim Chief Operating Officer and later as interim Director General of the Institute of Directors from October 2018 to November…
Read more
The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.0%. The MPC voted 7 to 2 in favour of the hold, with two dissenting member preferring to cut rates by 0.25% to 3.75%. Commenting on the MPC’s decision not to change the Bank Rate from 4.00%, George Lagarias, Chief Economist at…
Read more
Latest Office for National Statistics (ONS) data has shown that inflation held at 3.8 per cent in the year to August. Core Inflation came in at 3.6% in the 12 months to August, down from the 3.8% in July and in line with forecasts. Commenting on today’s inflation figures for August, ONS Chief Economist Grant Fitzner…
Read more
Latest ONS data has shown that GDP showed no growth in July 2025, following growth of 0.4% in June Real GDP grew by 0.2% in the three months to July 2025 compared with the three months to April 2025, down from three-month-on-three-month growths of 0.3% in June 2025 and 0.6% in May 2025. Services output…
Read more
A fraudster has been jailed after illegally securing three Bounce Back Loans and using the funds to buy and ship goods to Ghana for resale. Eric Agyeman obtained £130,000 in three Bounce Back Loans for DOK Logistics UK Ltd when businesses were only entitled to a single loan under the scheme. Agyeman invented turnover figures…
Read more
A Joiner whose two companies failed to pay more than £300,000 in tax has been sentenced after ignoring a director disqualification. Robert Kurzawa was banned as a director for three years in 2017 after his RK UK Construction Ltd company went into liquidation owing more than £195,000 in tax. However, Kurzawa continued acting as a…
Read more
Purbeck Insurance Services has reported a significant rise in the number and value of personal guarantee backed loans secured by young businesses. In Q2 2025, 16% of small business loans supported through Purbeck’s Personal Guarantee Insurance (PGI) were for businesses under two years old. This marks a sharp increase from 9% in Q1 2025 and just 6% in Q2 2024,…
Read more
Prices in shops have risen at the fastest pace for more than a year and are 0.9% up on a year ago, according to the British Retail Consortium (BRC). The increase comes as retailers pass on additional costs to consumers, with the Government having hiked both employer National Insurance contributions and the minimum wage. The…
Read more
Extreme currency fluctuations have caused SMEs to face substantial losses and are compelling businesses to change their FX strategy, according to data from independent SME funder, Bibby Financial Services (BFS). 54 per cent of SMEs surveyed say they’ve been stung by volatile exchange rates in the past year, losing over £53,000 on average as a result.…
Read more