Business CCJs rise 70% over the year

County Court Judgments (CCJs) against businesses in England and Wales rose by 70 percent in Q3 2021, compared to the same quarter in 2020, according to figures released by Registry Trust. The number of business CCJs increased from 15,970 in Q3 2020 to 27,073 in Q3 2021. The total value of CCJ debt owed by…

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Debt Judgments against Northern Irish businesses rise

20th October 2021 Commercial Credit Management |

The number of debt judgments registered against Northern Ireland businesses rose, from 73 to 117 according to new Registry Trust data, Debt judgments increased by 60 percent over the period. The total value of judgments against Northern Ireland businesses rose by much less, 21 percent, from £457,243 to £554,524. As a result, the average value…

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Registered debt against Scottish businesses remains unchanged

The number of decrees and total amount of debt registered against Scottish businesses was almost unchanged, at 523 compared to 525 in Q3 2020 according to latest figures by the Registry Trust. The total value rose by one quarter, from £2 million to £2.5 million. As a result, the average value rose by 26 percent,…

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Business insolvencies rose in September

18th October 2021 Business | #business insolvencies

The number of businesses in England and Wales that failed last month was the largest since the pandemic began, with Insolvency Service data showing that 1,446 company insolvencies were logged in September.  Business insolvencies increased by 7.2% in September 2021 compared to August’s figure of 1,349, and increased by 55.8% compared to September 2020’s figure…

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Scottish business insolvency figures increase by 63%

18th October 2021 Business |

Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 63% in September 2021. In September 2021 there were 70 company insolvencies registered in Scotland, 63% higher than in September 2020 but 8% lower than in September 2019. This was comprised of eight compulsory liquidations, 52 CVLs and 10…

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INSOLVENCY NOTICES: Appointment of Administrators – September 2021

5th October 2021 Business |

In September the following administration notices have been issued and advertised in the London Gazette for the following companies: 32 WELLINGTON LTD A F SMART REPAIRS LTD ADS JOINERY DESIGN LTD ADVANCIS LTD AGUA LONDON LTD ALLIED GLAZING SYSTEMS LTD ALTITUDE SELECT LTD ARTISAN GROUP FACILITIES MANAGEMENT LTD ARTISAN H1 LTD AVOCET FACULTIES LTD B…

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Grant Thornton fined £2.34m over Patisserie Valerie audit

28th September 2021 Business |

Audit accountancy firm Grant Thornton (GT) has been fined £2.34 million after an investigation found ‘serious lack of competence; in its audits of cake chain Patisserie Valerie. The audits carried out in 2015, 2016, and 2017 gave the company a clean bill of health – before it disclosed potential fraud in 2018 and subsequently collapsed,…

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Businesses give back £1.3 billion in furlough cash

22nd September 2021 Business Lending |

British businesses buoyed by the UK’s economic recovery have returned £1.3 billion in furlough cash, according to new statistics from the Government. The figures show that firms who have overclaimed or decided they no longer need payments received through the Coronavirus Job Retention Scheme handed back £300 million in the last three months. In total,…

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Insolvency Service announces end of temporary measures

9th September 2021 Business |

The Insolvency Service has announced that temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1st October. Companies in financial distress as a result of the pandemic have been protected from creditor action since June last year, through the Corporate Insolvency and Governance Act 2020. This was…

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Emergency loan scheme reversed alternative lending growth

7th September 2021 Alternative Business Lending |

Analysis by Innovate Finance has found that the pandemic had reversed years of growth among alternative lenders and resulted in large banks significantly increasing their market share. The fintech industry body said the emergency Bounce Back Loan Scheme saw £47.3 billion worth of state-backed credit channelled to more than 1.5 million companies. However, because non-bank…

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Research highlights slow payment FTSE companies

Travel company Tui,  drinks conglomerate Diageo and engine maker Rolls-Royce are among the slowest FTSE 350 listed groups to pay their suppliers, according to new research. A report by Good Business Pays campaign has named and shamed the top 10 slowest payers in the FTSE 100 and FTSE 250 indices, using the latest information submitted…

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INSOLVENCY NOTICES: Appointment of Administrators – August 2021

3rd September 2021 Business |

In August the following administration notices have been issued and advertised in the London Gazette for the following companies: 00510285 REALISATIONS LTD (FORMERLY GISSING & LONSDALE LTD) A.M. FABRICATION (NORTHERN) LTD ABG COURIERS LTD ALL FOUNDATIONS (UK) LTD ALL-COUNTIES SUPPLIES LTD ARTHUR M.GRIFFITHS & SON LTD ASA CRUSHING & SCREENING LTD BERWICK STREET SECURITIES LLP…

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INSOLVENCY NOTICES: Winding Up Petitions – August 2021

3rd September 2021 Business |

In August, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: APPLIANCE GROUP LTD ASSOCIATED STONE GROUP LTD BARDA QUCH LTD BDC AGGREGATES LTD BELIZE LTD BENCHMARK DEMOLITION LTD BILLION LENNY EVENTS LTD BLACK DIAMOND BARS LTD BLUE GERANIUM FLORIST LTD D&B KW DEVELOPMENTS LTD EMC ENGINEERING…

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