Credit, Collections & Insolvency News
New figures from BDO show almost 32% of mid-sized businesses think they will need to substantially alter their business model to remain viable amid the new post-Brexit arrangements between London and Brussels. The survey of 500 firms showed 36% are prioritising adapting their company to align with the new trading arrangements. This compares with one…
Read more
With vaccination campaigns ongoing, trade credit insurer Atradius has predicted that the global economy will grow by 6.2% and is recovering fully from the major economic downturn in 2020 caused by the Covid-19 pandemic. Atradius new Economic Outlook forecasts a 2021 growth rate of 6.2%, higher than was expected six months ago. As most economies…
Read more
A total of 169 corporate insolvencies were recorded in Ireland in the first half of 2021, according to analysis of the latest insolvency statistics published by Deloitte. The figures represent a decrease of 38% from H1 2020 when 273 insolvencies were recorded. On a quarterly basis, a total of 58 corporate insolvency incidents were recorded…
Read more
Intrum has published its latest European Payment Report with the analysis showing that half of the companies surveyed stating that they think they are lucky to have survived 2020. At the same time, reality did not turn out as gloomy as expected, partially due to government support, but also with new, digital business models gaining…
Read more
Nearly half of companies have said that they were lucky to have survived 2020 according to new research by Intrum. The research as part of Intrum’s sixth UK edition of the European Payment Report 2021 also found that companies have also taken the opportunity to tighten payment terms and focus on liquidity. However, most businesses…
Read more
Half of all business to business (B2B) credit sales in Asia are overdue, according to the latest Payment Practices Barometer from trade credit insurer Atradius. Many Asian businesses polled in the region are feeling the pinch of the global pandemic recession with around 40% of respondents pessimistic about the outlook for their Days Sales Outstanding…
Read more
A new report by Coface has highlighted the rising payment risks in China despite the country’s economy expanding by 2.3% in 2020 and it being the only major economy to record growth. Coface expects the GDP in China to accelerate to a 7.5% growth in 2021. This would be the fastest pace since 2013, and…
Read more
Atradius’ latest Insolvency Forecast reports Polish insolvencies are expected to grow by 7% this year after remaining static in 2020. As a response to the pandemic, comprehensive stimulus measures supported many Polish businesses, enabling them to sustain their cash position. However, this support is expected to expire this year as the economic rebound gains momentum.…
Read more
A new trading report into the Turkish market has revealed an expected decline in insolvencies this year. The report by trade credit insurer Atradius has revealed that the economic impact of the Covid-19 pandemic had upon the country which managed to avoid recession in 2020. Turkish GDP grew 1.8% in 2020 despite the adverse conditions of…
Read more
Businesses must take measures to protect themselves from the impact of unpaid bills as global insolvency rates are forecast to surge according to trade credit insurer Atradius. The company’s Insolvency Forecast reveals the likely extent of business failures in the wake of the coronavirus pandemic. Entitled ‘2021: A turn of the tide in insolvencies’, the…
Read more
A new study shows UK banks have lent around £29.3bn more to businesses over the past year. This compares with a 5.3% jump in lending in the EU on average. UK bank lending also surpassed Germany (7%) and Spain (3%). UK banks have managed to increase lending by 8% since the start of the Covid-19…
Read more
The global economy is forecast to recover almost fully from the pandemic-driven recession but there are major divergences in the pace of recovery across the world, according to a new report from trade credit insurer Atradius. The report reveals the emergence of several bright spots in the global economy as the world battles to overcome…
Read more
Research by Moody’s has found that the UK has the highest number of distressed companies in Europe. Across the continent, there were 113 companies with a B3 negative rating or lower in December, with the UK accounting for the highest proportion with 28 distressed companies. The number of distressed EMEA companies on Moody’s latest B3N…
Read more