Almost 20,000 Scottish businesses vanished over the past year

7th December 2021 Business | #featured#insolvency

Scotland lost almost 20,000 small businesses during a single year of the covid crisis, according to official statistics. As a consequence of this dramatic fall in business numbers, the Federation of Small Businesses (FSB) is urging the Scottish Government to outline new measures to aid the recovery of local businesses in the budget next week.…

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INSOLVENCY NOTICES: Appointment of Administrators – November 2021

6th December 2021 Business |

In November the following administration notices have been issued and advertised in the London Gazette for the following companies: A & D JOINERY LIMITED ACCUMULATE CAPITAL LIMITED ACCUMULATE LONDON SW LIMITED ACCUMULATE RESIDENCES LIMITED ACTON COACHWORKS SP LIMITED AFFINITI FINANCE LIMITED AMPOWERUK LIMITED ARCHITECTURAL FABRICATIONS LIMITED ARENA AIRCRAFT LIMITED ARENA AVIATION LIMITED ARENA HOLDINGS LIMITED…

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LIQUIDATION NOTICES: Creditors Voluntary Winding-Up – November 2021

6th December 2021 Business | #insolvency

Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in November: 1ST 4 LEISURE LTD 365 MANAGEMENT SERVICES LTD 5 SENSES MANAGEMENT LTD 85 LEISURE LTD 8701 SERVICES LTD 911 DREAM LTD 9BAR NORWICH LTD A & K CARPENTRY & BUILDING SOLUTIONS LTD A &…

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INSOLVENCY NOTICES: Winding Up Petitions – November 2021

6th December 2021 Business | #insolvency

In November Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 2FOLD PRINT LTD. 3XY DEVELOPMENTS LTD 4 FUN LTD ABSOLUTE COMPANY SERVICES LTD AC PARL STREET LTD AFRICA SHIPPING SERVICES LTD ASSURED PAINTING CONTRACTORS LTD ATLAS TRAVEL & CULTURE LTD BETTER CHOICE BUILD COMPANY LTD BIG…

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Zog becomes latest energy supplier to go bust

2nd December 2021 Business | #energy insolvencies

Zog Energy has ceased trading, the company claimed that it was unable to secure the gas hedges it previously agreed with its gas shipper CNG.  The energy company has served around 11,700 domestic gas customers, is the 27th energy retailer to exit via the Supplier of Last Resort process so far this year. Under Ofgem’s…

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Orbit and Entice become the latest energy firms to go bust

26th November 2021 Business | #utilities

Ofgem has announced the collapse of two more energy firms as number of households affected by a supplier failure nears 4 million. That brings the total number of suppliers that have failed to 24 in fewer than 12 weeks, Entice Energy, which comprises both Entice Energy Supply and Simply Your Energy, and Orbit Energy, are to…

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Government support of Bulb set to cost £1.7bn

25th November 2021 Business | #utilities

Government support of energy provider Bulb, which is set to continue to operate under a Special Administration Regime (SAR), is set to cost £1.7billion. The funds will allow Bulb to continue supplying energy to customers. Bulb will be run by administrator Teneo until a buyer can be found or until its customers have moved. A…

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Scottish business insolvencies rise by 58%

18th November 2021 Business | #business debt

The number of business insolvencies (liquidations and receiverships) in Scotland rose by 58% in October 2021 when compared with October 202 according to latest Accountant in Bankruptcy (AiB) figures. In October 2021 there were 68 company insolvencies registered in Scotland, 58% higher than in October 2020 but 18% lower than in October 2019. This comprised…

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Northern Irish business insolvencies rise by 75% whilst personal insolvencies decline

18th November 2021 Business |

Latest statistics from the Insolvency Service have shown that Northern Irish business insolvencies increased by 75% whilst personal insolvencies declined by 1% in the latest monthly figures. In October 2021 there were 102 personal insolvencies in Northern Ireland, 11% lower than October 2020 and 56% lower than October 2019. This consisted of 95 IVAs, four…

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Business insolvencies fell by 3% in October

18th November 2021 Business | #business insolvencies

Latest figures from the Insolvency Service has shown that the number of businesses in England and Wales that business insolvencies fell by 3% in October to a total of 1,405 compared to September’s total of 1,449, and increased by 63.6% compared to October 2020’s figure of 864. The increase in company insolvencies compared to October…

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Neon Reef and Social Energy Supply go bust

17th November 2021 Business | #energy insolvencies

Energy companies, Neon Reef and Social Energy Suppl, have announced they are ceasing to trade, meaning that 21 energy suppliers have collapsed since the start of September. Neon Reef supplies around 30,000 domestic electricity customers, and Social Energy Supply supplies around 5,500 domestic customers. Under Ofgem’s safety net, customers’ energy supply will continue and funds…

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Savants Restructuring enters administration

15th November 2021 Business | #insolvency

Savants Restructuring and Savants Covenant Advisory have appointed Quantuma to oversee their own administration with immediate effect. The company has ceased to trade with immediate effect, after Adrian Duncan, a sole practitioner and Director of Savant, had his insolvency licence withdrawn by the Insolvency Service. Carl Jackson and Michael Hall of business advisory firm Quantuma…

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High energy costs predicted to increase construction business failures

10th November 2021 Business | #business insolvencies

New research from CompanyDebt has predicted an incoming wave of business failures among the UK’s construction sector. The report says that supply and demand in the global energy market have pushed prices to a record high this month in what industry pundits are called a ‘perfect storm.’ Energy prices are now over 250% higher than…

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