Credit, Collections & Insolvency News
Proposed reforms that would allow high court enforcement officers and certificated enforcement agents to enforce small sum County Court Judgments and Consumer Credit Act judgments have been put to the Government in a joint industry submission. The joint submission by the High Court Enforcement Officers Association (HCEOA) and the Civil Enforcement Association (CIVEA) has been…
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A new report by Coface has indicated that here was an 8.3% drop in the number of French business insolvencies to 53,414 cases over one year in January 2018, which is the lowest since October 2008. Their cost to the economy is experiencing a double-digit drop: -15.2% for supplier debt (3.2 billion euros) thanks to…
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Pre-pack administrations are continuing to side-step measures to stop the abuse of the current insolvency system, according to new research by Moore Stephens. Just 23 pre-pack sales were referred for scrutiny in 2017 by the Pre-Pack-Pool, the independent review body designed to help stamp out abusive pre-packs – down from 49 in 2016. A pre-pack…
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Businesses in England and Wales faced the first rise in adverse County Court Judgements (CCJs) in eight years during 2017, according to figures released today by Registry Trust. In 2017, 105,633 CCJs were registered against businesses in England and Wales, up 30 percent on 2016 and the first year-on-year increase since 2009. The rate of…
Read moreAs Brexit looms ahead, importers and consumers have been affected by raising input costs and a weaker pound. Euler Hermes forecasts an increase in insolvencies by 8% in the UK in 2018. The country is an exception in Western Europe where most countries should experience either a decrease or stabilisation in the number of insolvencies…
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Administration notices have been issued and advertised in the London Gazette for the following companies: A & R MECHANICAL & ELECTRICAL CONTRACTORS LTD A* TRANSPORT LTD ABSOLUTE RUNNING LTD ALTERNATIVE INVESTMENT SOLUTIONS (GENERAL) LTD ARB (SOUND VISION LIGHT POWER) LTD ARISTOCRAT PET SUPPLIES LTD ARMADA TUBE LTD ASCROFT WHITESIDE LTD ASHFIELD ELECTRICAL SERVICES (SOUTH WEST) LTD…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 19 THE MURRAY SQUARE LTD 1ST 4 CONSTRUCTION LTD 1ST STOP TICKETING LTD 3G TRANSPORT LTD 4D CONTRACT FLOORING LTD 5 EURO’S LTD A C CONSTRUCTION (ELLON) LTD A J BUILDERS (CONTRACTS) LTD ABODE (CLAPHAM) LTD ABSEC TECHNOLOGIES…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 04302886 LTD 06373349 LTD 102 (HALIFAX) LTD 109 (BRADFORD) LTD 147 HAVANA LTD 16S TECHNOLOGIES LTD 2C INSTALL LTD 2HG LTD 365 MANAGEMENT SERVICES LTD 3G CLEANING LTD 93LEISURE LTD A & J BUILDING AND ROOFING SERVICES…
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Accountancy firm Armstrong Watson has appointed a new partner in its restructuring, recovery and insolvency team in Leeds. Robert Adamson is a specialist in business recovery and turnaround and holds in excess of 20 years’ experience. Adamson has extensive knowledge in corporate restructuring and insolvent company rescue procedures and has acted for a variety of stakeholders. Mark Ranson, head…
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New research by Moore Stephens has shown that restaurant insolvencies have risen by 20% in the past year. The research shows that restaurant businesses insolvency jumped 20% to 984 in the last year, up from 825 in the previous year*. The figures come on the back of one of Britain’s biggest sandwich chains, EAT, announcing this…
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9% of UK clothing retailers currently exhibit early warning signs that they are at risk of going insolvent according to latest research by Moore Stephens Out of 35,078 fashion retailers analysed, 6,580 are showing early signs of financial distress, which can include a large fall in revenue and poor payment history. Falling consumer spending and increased…
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The number of debt decrees registered against Scottish businesses fell to a record low during 2017, according to figures released today by Registry Trust. There were 2,192 decrees issued against businesses in Scotland during 2017, 38 percent fewer than the previous year. The fall in decrees registered, coupled with a 58 percent decrease in the…
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The number of debt judgments recorded in the Four Courts of Ireland fell to a historic low during 2017, according to figures released today by Registry Trust. There were 2,157 judgments registered against consumers in 2017, two percent fewer than the previous year and a record low. The mean average consumer judgment’s value fell 11…
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