Credit, Collections & Insolvency News
Administration notices have been issued and advertised in the London Gazette for the following companies: 24HR QUALITY CARE LTD AIR PARTS LTD ANIMAL SEARCH UK LTD APPLE APPOINTMENTS (SOUTH WEST) LTD ARIADNE CAPITAL LTD ASA RESOURCE GROUP PLC ASTWOOD JOINERY CONTRACTS LTD ATTERCOPIA DIGITAL MARKETING LTD B C TRANSPORT (BOLLINGTON) 1991 LTD BEESTON CORPORATE LTD BIOGAS…
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Nearly 45,000 retailers are in financial trouble this Christmas as rising inflation and the squeeze on household budgets are having an impact on high street spending. There has been a 22 percent increase in retailers facing ” significant financial distress”, according to a survey by the advisory company, Begbies Traynor. The furniture chain Multiyork collapsed…
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David Matthews has been appointed the new Vice President of the ICAEW. Matthews joined ICAEW Council in 2010, and has previously served on the Institute’s Professional Standards Board as well as, currently, the Board of the ICAEW and Chair of its Technical Strategy Board. Matthews joined KPMG after graduating from London School of Economics in…
Read moreThe number of Scottish companies at higher than average risk of insolvency rose markedly over the course of 2017, according to insolvency and restructuring trade body R3. In December, 26.6% of Scottish firms fell into the category of companies at greater than usual risk of insolvency, up by 36% from January 2017, when the equivalent…
Read moreInsolvency and restructuring trade body, R3 has responded to the Insolvency Service’s announcement that the government is to undertake an assessment of the Graham reforms of pre-pack administrations. Duncan Swift, deputy vice president at R3 said “The Government’s review is expected and is a good opportunity to examine the role pre-pack administrations play in the…
Read moreAdministration notices have been issued and advertised in the London Gazette for the following companies: AIR EXPRESS TRAVEL & TOURS (UK) LTD ALMOND SOLICITORS LTD BCUK TRADING LTD BIOEDEN LTD BOREHAMWOOD SUPPLIES LTD BRITANNIA FORK TRUCKS LTD C G WRIGHT ENGINEERING LTD C. I. REALISATIONS LTD CHESTER BUILDING SERVICES LTD CLAYS FARM GOLF CENTRE LTD. CLEARTRACK…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 10141715 LTD 2028 X LTD 53 CAPITAL TRADE LTD A F REPROGRAPHICS LTD A-B-A-C-U-S FRANCHISING COMPANY LTD A1 SOUTH LTD ACE SCAFFOLDING SERVICES LTD ACH GROUP MANAGEMENT LTD ACORNFORD ESTATES (NORTHERN) LTD ACQUISITION 395445642 LTD ACTONVILLE CONSULTANTS LTD…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 19 BELGRAVE MEWS LTD 1NORTH LTD 1ST COUNTY SCAFFOLDING LTD 3 BLUE WORLDWIDE LTD 53 ART LTD A S B INTERIORS LTD A TO Z BOOZE LTD A1 GROUP (UK) LTD ABA DINING LTD ABSOLUTE-DESIGNS LTD ACCOUNTABLE…
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Latest government data has revealed that an average of six shops a day has been lost in England and Wales over the past seven years. Between 2010 and 2017, 15,856 shops were either demolished or converted into homes as retailers struggled to cope with the popularity of online commerce. There has been little reprieve under the…
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The percentage of Scottish companies which report that they are benefiting from at least one sign of growth may have taken a tumble in recent months, according to new research by insolvency and restructuring trade body R3. The indicative research, part of a long-running survey of business distress by R3 and BDRC, estimates that the…
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Less than 1% of hotels are now deemed to be at significant risk of going insolvent as the weakened pound as a result of Brexit has helped attract high volumes of tourists to the UK. Data from the Insolvency Service show that there has been an 18% fall in the number of hotel insolvencies in…
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The budget announced by the Government includes a proposal designed to tackle the use of insolvency to escape tax debt by expanding the current security deposits legislation as part of a bid to recoup some £150m of tax annually. The proposal widens the scope of the existing security deposits legislation to include corporation tax and…
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Blair Nimmo has been named as Global Head of Insolvency at KPMG. Nimmo has more than 30 years’ experience of corporate restructuring, including advisory and formal insolvency. Nimmo succeeds Richard Heis, who retired from the firm earlier in the year. Nimmo joined KPMG in 1991, after training with Cooper and Lybrand’s restructuring practice. In March…
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