Credit, collections & insolvency news
Aaccountancy and advisory firm Azets has signalled service-line growth with the promotion of Mark Barrie to Head of Debt Advisory. Barrie, previously Funding & Strategic Partnership Director, will be assisting business owners and managers with new funding lines, working with intermediaries and mainstream and independent lenders. Barrie is a Chartered Banker, leads a national team…
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More than one in ten (12%) restaurants are at imminent risk of closure as their financial position has worsened over the last 12 months, according to an analysis of financial data by Price Bailey. The research analysed the credit risk scores and balance sheet information of all 50,900 British restaurants. It found that 10,388 (20%…
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Insolvencies in the hospitality sector have increased year-on-year, according to analysis by RSM UK. The insolvency statistics show accommodation and food services insolvencies were up 5% in the year to September 2024 (from 3,490 in the 12 months to September 2023, to 3,679 in the 12 months to September 2024. Insolvencies in the sector saw…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales was 1,747 in October 2024, 10% lower than in September 2024 (1,950) and 24% lower than the same month in the previous year. The business insolvencies figures consisted of 188 compulsory liquidations, 1,445 creditors’ voluntary liquidations (CVLs), 100…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies increased by 18% In October 2024, there were 116 business insolvencies registered in Scotland, 18% higher than the number in October 2023. The total number of business insolvencies comprised of 50 CVLs, 60 compulsory liquidations, five administrations and one receivership appointment. There were…
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Latest monthly statistics from the Insolvency Service have shown that personal and business insolvencies rose in October 2024. The data showed that there were 155 personal insolvencies in Northern Ireland. This was 24% higher than in October 2023. The insolvencies consisted of 99 IVAs, 23 bankruptcies and 33 DROs. Business insolvency figures showed that there were…
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Latest data from the Insolvency Service showed that the construction industry experienced the highest number of insolvencies in the 12 months to September 2024, reaching a total of 4,264. Commenting on the data, Kelly Boorman, National Head of Construction at RSM UK, said “Challenges remain for the construction industry following the collapse of several major firms…
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Research by Forvis Mazars has found that insolvencies of logistics companies’ have risen 14% in the past year, from 464 in 2022/23 to 530 in 2023/24. Many logistics businesses were set up during the pandemic to meet the sudden rise in demand for home delivery. As this surge in demand reversed, some of these companies…
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In October the following administration notices were issued and advertised in the London Gazette for the following companies: 10463817 LIMITED A. M. C. (U.K.) FASTENERS LIMITED A3D2 LIMITED ACTIVE ARENA CIC ADVANCED BACTERIAL SCIENCES LIMITED AFFINITY CLASSICS & ENGINEERING (ACE) LTD AFFINITY LEASING LIMITED ARMSTRONG TEASDALE LIMITED ARMSTRONG TEASDALE MANAGEMENT LIMITED ASHTON BESPOKE LIMITED BELA…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in October: 18 BIKES LIMITED 1ST FOCUS LIMITED 1ST STOP CLEANING LTD 2020TRADES LTD 29 HIGH STREET EAST GRINSTEAD LTD 2ASTAR DRYLINING LTD 30 AGINCOURT LTD 3RIT LTD A.D.G. CONSULTANCY LIMITED A.E. TRANSPORT LIMITED A1WEBSTATS LTD…
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In October, Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: 10408929 LTD 123 EMPLOYEES LTD 13268073 LTD 2GO COURIERS LIMITED 3RD SECTOR ASSIST LIMITED 77 PROPERTY 4 LIMITED 77 PROPERTY LIMITED 85 GRACE CAFE LTD A & M PAKISTAN CATERING LTD A & R HAULAGE (UK) LIMITED…
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The Office of the Official Receiver is 140 years old this year, marking a history that has evolved from administering personal bankruptcies to overseeing major company liquidations and securing Bankruptcy Restrictions against people who pose a threat to the public through financial wrongdoing. The Insolvency Service has 16 Official Receivers based across 16 locations in…
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Professional services firm Begbies Traynor has appointed insolvency specialist Kevin Mapstone as a Director based at its Edinburgh office. With over 25 years’ experience in financial services, Mapstone joins from an insolvency firm in Paisley where he spent almost four years as an Insolvency Practitioner, having previously worked for a number of other firms, including…
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