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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Northern Irish business insolvencies rise whilst personal insolvencies figures stay low

18th October 2021 Business |

Latest statistics from the Insolvency Service have shown that Northern Irish personal declined and that business insolvencies increased in September when compared to 2020’s figures. In September 2021 there were 11 business insolvencies registered in Northern Ireland, 10% higher than in September 2020 but 69% lower than September 2019. This comprised of one administration, nine…

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Daligas becomes 15th energy supplier to go bust this year

Gas-only retailer, Daligas, has confirmed it is ceasing to trade, blaming the unprecedented energy market conditions, the record high wholesale prices and the current energy cap. Daligas becomes the 15th energy company to go bust year meaning that a total of almost 2.4 million customers have now seen their energy supplier exit the market in…

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Construction insolvencies could rise by 25% in the next six months

14th October 2021 Business | #construction insolvencies

Insolvencies in the construction sector could rise as much as 25% in the next six months despite a rebound in orders according to trade credit insurer Atradius. The report found that he sector contracted by 14% in 2020, UK construction output is forecast to rebound by almost 15% in 2021 and grow by more than…

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84% of small businesses suffer from late payments

Late payments are threatening the survival of small businesses across the UK, according to findings from new QR-code payment and invoicing app, Tomato pay. The research has found that 84% of small businesses suffer from late payments. One in eight (12%) wait more than 60 days on average for an invoice to be paid, while…

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UK business failures predicted to increase by 32% by end of the year

The UK is set for a significant rise in business failures as firms readjust to life without government Covid-19 pandemic support measures, according to trade credit insurance firm, Euler Hermes. The underwriter forecasts that, compared to pre-Covid levels, UK insolvencies could increase by a total of +32% by the end of 2022, with more than…

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ICAEW appoints new Vice-President

The Institute of Chartered Accountants in England and Wales (ICAEW) announced that it has appointed a new Vice-President. Malcolm Bacchus has been elected ICAEW Vice-President for 2022-23. He will take over the role from current Vice-President Mark Rhys in June 2022. Based in London, Bacchus is the principal of Baccma Consulting. He currently chairs the…

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Apex Litigation Finance to appoint Head of Insolvency

11th October 2021 Appointments |

Litigation funding specialists Apex Litigation Finance has announced the upcoming appointment of Mark Sands as Head of Insolvency. Sands will join the firm in January 2022, assuming overall responsibility for the company’s presence in the insolvency sector. Sands has more than 35 years experience in the insolvency profession, most recently in a senior role at…

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Business failures predicted to spike at 33%

UK business insolvencies are set to rise 33% on pre-pandemic levels, according to new economic research by trade credit insurer Atradius. Contrary to initial expectations, the new Insolvency Forecast reports UK business insolvencies declined 27% in 2020 as a result of fiscal support schemes and anti-bankruptcy measures. As these measures continued in 2021, buffering businesses from…

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Azets makes new Partner promotion

7th October 2021 Appointments |

Regional accountancy and business advisor to SMEs, Azets has promoted Richard Monkhouse to Partner in its Kettering office. Monkhouse joined the firm’s Peterborough office in November 2014 before moving to the Kettering office in January 2021. He leads the team there on a range of external audits, including charities, owner manager business, UK and overseas…

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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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INSOLVENCY NOTICES: Winding Up Petitions – September 2021

5th October 2021 Business |

In September Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ADVANCED INTEGRATED SERVICES LTD ASHFORD DEVELOPMENTS EAST ANGLIA LTD AVANTIS LIVING LTD BROAD ENVIRONMENTAL LTD CARTER HAYNES LTD CG NATION LTD CGB PROJECTS LTD COMMUNITY R4C LTD CONSTRUCTION ONE LTD D.EASY SERVICES LTD DPG CONCEPTS LTD…

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