Credit, Collections & Insolvency News
Insolvencies in the UK are forecast to jump by 27% this year, slightly higher than the global average rise of 26%, reveals a new economic research report by top trade credit insurer Atradius. The latest Atradius Insolvency Report analyses the economic impact of the Covid-19 pandemic and the knock-on effect on insolvencies. Every major economy, except…
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The full economic and business impact of the Covid-19 crisis is yet to be felt, with the preservation of cashflow and investment in new technologies to predict risk being issues that will shape the agenda of business leaders over the coming months, according to Euler Hermes Chairman Wilfred Verstraete. In a letter to the company’s…
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Brazil’s economy is forecast to contract by more than 6% this year with business insolvencies up by 20%, reveals leading trade credit insurer Atradius in its updated country reports. The new County Report details how the current economic decline has put an end to the modest economic rebound Brazil has experienced since 2017 following its…
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New country reports have been published on Russia and Poland by trade credit insurer Atradius with the report indicating that certain industries in Poland have been severely impacted by the economic downturn and are likely to experience an increase in insolvencies. Atradius’ Russia Country Report has revealed that the Russian economy is under strain due…
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Trade credit insurer Atradius has analysed the impact of the coronavirus pandemic on five Asian markets in its latest series of country reports. The new reports detail the economic impact within India, Japan, Indonesia, Thailand and Vietnam, revealing economic contraction, sharp swings in export rates and a rise in business insolvencies. As part of the…
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The UK economy shrunk by a fifth and fell into its deepest recession on record in the second quarter. Official data released by the ONS confirmed a 20.4% fall in GDP quarter on quarter. The contraction followed a 2.2% dip in the first quarter, sending the country into a technical recession. In Germany, GDP fell…
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The European Commission has approved, under EU state aid rules, a UK guarantee scheme to support the trade credit insurance market in the context of the COVID-19 pandemic outbreak. Trade credit insurance protects companies supplying goods and services against the risk of non-payment by their clients. Given the economic impact of the pandemic, the risk…
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The Covid-19 pandemic crisis is affecting the European payments landscape with businesses facing unparalleled uncertainty according to late insight research by European credit management specialist Intrum. The report indicates sharp drops in GDP across Europe are now pushing down revenues for businesses, restricting cash flow while increasing pressure on businesses to manage their cash and…
Read moreLate payments have soared in the North America continent as businesses are squeezed by the impact of COVID-19, according to latest research by trade credit insurer Atradius. The annual Payment Practices Barometer analyses the payment behaviours and sentiment of businesses in the United States, Mexico and Canada (USMCA). This year’s survey results reveal compromised cashflows…
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New research by Coface has predicted that the number of insolvencies is expected to rise across Europe in the second half of 2020, and in 2021. Germany, the least affected country, is still on track for a 12% increase in insolvencies between end-2019 and end-2021. France (21%) and Spain (22%) will be more affected by…
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Payment delays in Asia have increased, according to new economic research by leading trade credit insurer Atradius. The company’s Payment Practices Barometer measures the changing pattern of payment behaviour in B2B trade. In a survey conducted in March this year, Atradius found that businesses in Asia reported more than half (52%) of B2B invoice payments…
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Latest figures from the Registry Trust indicate that the number and total value of judgments registered against Irish businesses more than doubled in Q1 (January-March) 2020 compared to the same quarter last year, The figures show that Irish businesses owed €3,826,317 in Q1 2020, a rise of 134% compared to the same period of 2019.…
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The number of unpaid UK business invoices has increased by 23% according to new tracker by AI platform provider, Sidetrade. Sidetrade’s tracker is based on a statistical analysis of 26 million invoices, representing €54bn of business to business transactions with the payment behaviour of over 3.7 million businesses is tracked week by week. The company…
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