Credit, Collections & Insolvency News
New Research from Moore Stephen has indicated that 153 estate agents have gone insolvent in the last year, up from 148 the year before, as the pressure from online rivals continues to increase. More than 7,000 UK estate agents currently show signs of financial distress. Even larger estate agents look to be feeling the strain, with…
Read moreJust over half of all technology and IT companies in Scotland are at higher than average risk of insolvency in the next 12 months, according to new research from insolvency and restructuring trade body R3. The percentage of IT companies in the negative band (50.1%) in June 2018, equating to 5,600 firms, is a steep…
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Over a quarter (26%) of UK companies have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3, the insolvency and restructuring trade body. The research found the financial impact of the insolvency of another business was described as…
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House of Fraser has announced that it has gained approval from its creditors to enter into a Company Voluntary Arrangement (CVA) which will see the closure of 31 of its 59 department stores and the loss of around 6,000 jobs. Landlords for the company have indicated their dissatisfaction with the plans and say they may…
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Customer non-payment continues to hamper the growth of small subcontractors working in the UK construction sector, according to a study by financial services provider Bibby Financial Services (BFS) and industry experts, The Vinden Partnership (TVP). Findings of the Subcontracting Growth 2018 research, undertaken in the aftermath of the collapse of Carillion, reveal that three-fifths of subcontractors (60%)…
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Three directors of a debt management company have been banned from running companies for 29 years. Robert Solloway, Mark Harrison and Richard Mott, were all directors of RMR Financial Services Limited, which traded as Compass Debt Counsellors, a debt management company. Robert Solloway served as a director throughout, while Mark Harrison and Richard Mott were…
Read moreThe number of UK company directors disqualified has increased for the third year running to 1,231 in 2017/18, according to analysis from Moore Stephens. Thre research also shows that bans for disqualified directors are getting longer. The UK has tightened its disciplinary regime for rogue directors, with the number of disqualification orders increasing to 1,231…
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Recoveries and Insolvency specialist Wilkin Chapman has announced that it has appointed a new Client Relations Manager. Rob Andrews joins Wilkin Chapman joining Paul Bowden and the dedicated local government team. For the past 20 years, Andrews has worked closely with the public sector in various roles including software implementation and latterly business development for the…
Read moreAccountancy firm MHA Monahans has announced that it has appointed Insolvency Practitioner Dan James as a senior manager in its specialist business recovery and insolvency team. James has more than 15 years’ experience helping companies and individuals in financial difficulty, joins the firm after 10 years at rival Begbies Traynor’s Bath office. He has also worked…
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Following the recent increase in company voluntary agreements (CVAs), the British Property Federation (BPF) has called on the government to conduct an urgent review. The BPF believes the process is now being misused, saying that this risks undermining the UK’s global reputation and deterring much-needed investment into town and city centres, at a time when it…
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The total value of UK business judgments rose sharply by 25 percent during the first quarter of the year, according to figures released by TrustOnline.The figures also show that the total number of judgments against businesses was up 8 percent on the same quarter in 2017. Over the same period the number of online searches…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 01662739 LTD 04103549 LTD 06846400 LTD 10 CASTLE STREET LTD 123 MOTORS LTD 24K CONSULTANCY LTD 36 ST. JOHN’S WOOD ROAD LTD 4 PRINT FINISHERS LTD 5I DIGITALS LTD 7 S BUDAK LTD A & E AUTOMOTIVE…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09155717 LTD 1313 BATH LTD 2391 ELECTRICAL SERVICES LTD 404 ENTERPRISES LTD A MORREY DISTRIBUTION LTD A PROPERTY MANAGEMENT LTD A STUDIO LTD ABER HOUSE LTD ABSOLUTE WAREHOUSE SOLUTIONS LTD AC BOLTING AND TESTING LTD ACCESS SECURE SCAFFOLDING…
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