Credit, Collections & Insolvency News
20% of restaurant businesses in the UK currently exhibit warning signs that they are at risk of going insolvent according to new research by Moore Stephens. The research shows that 14,800 restaurants are faced with the threat of going under as Brexit and rising labour costs put a strain on the industry. Since the Brexit…
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The latest results Insolvency statistics from The Insolvency Service for Quarter July to September 2017 (Quarter 3 2017) indicate that total company insolvencies decreased compared with the unusually high level in the previous quarter when a large number of connected personal service companies entered liquidation. When the statistics are compared with last quarter’s underlying numbers,…
Read moreThe number of Scottish business facing liquation has declined by 23% over the three months leading up to September, according to new research from KPMG. In the year leading up to September 2017, there were 802 insolvency appointments, a drop from 1040 in the previous year. Between June 2016 and June 2017, there was also…
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Fewer UK companies are reporting signs of growth, and more firms say they have recently experienced at least one sign of distress, according to new research by insolvency and restructuring trade body R3. The research, part of a long-running survey of business distress by R3 and BDRC Continental, found that the number of companies reporting…
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Corporate recovery and business advisory firm, Quantuma has appointed Mark Hendrick as Director of Credit Services. Hendrick brings 24 years’ experience in this field, in a career including spells at Opus Restructuring and RSM Tenon. Quantuma managing partner Carl Jackson said: “Mark is extremely well known in the industry and brings with him a wealth…
Read moreAn OECD report has concluded the UK’s insolvency and restructuring framework is the most effective in the organisation at preventing a build-up of productivity-sapping zombie companies, says UK insolvency and restructuring trade body R3. The report, ‘Insolvency regimes, zombie firms and capital reallocation’, says that zombie companies – struggling companies aged 10 years or older…
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The next two years will bring significant challenges to UK businesses, many of which may succumb to insolvency as a result. ICAEW conducted a survey of those working with the insolvency and business restructuring sectors* and asked what they felt would be the three greatest threats to British businesses over the next two years, the…
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Advisory specialist Baldwins, who last year joined CogitalGroup to form part of their international business service group, has announced its largest acquisition to date. The firm is expanding into Scotland with two acquisitions which will see its revenue grow to £89 million. Campbell Dallas, which has offices in Glasgow, Perth, Kilmarnock, Stirling and Aberdeen, employs 260 staff…
Read more55% of UK small businesses are still not familiar with the General Data Protection Regulation (GDPR) despite its introduction being now less than a year away, according to a new business research by Collyer Bristow. The survey further reveals that the knowledge of GDPR is higher in larger businesses. However, 30% of executives at companies…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: 07715030 LTD 1ST CALL AUTO SOLUTIONS LTD 2 AM CREATIVE LTD 21 TOMBLAND LTD 2EON LTD A M COURIERS (NW) LTD A R A (2014) LTD A RUSHTON JOINERY LTD A.E.CROSS LTD ABOARD LTD ACE MOULDING SERVICES LTD ACTIVE PROPERTY SOLUTIONS…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 12 PROPERTY RENTALS LTD 19 RM LTD 19/9 194F LTD 1ST BASE PROPERTIES LTD 20/20 BEEF LTD A & I CHILDCARE LTD A & M LONDON DEVELOPMENTS LTD A J CONTRACTS (WHITSTABLE) CONSTRUCTION LTD A STAR DRIVERS LTD…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 3RD GERMINATION LTD ACQUISITION 395445574 LTD ALNO (UNITED KINGDOM) LTD AMIGO TRAVEL LTD AQUAMAT LTD ASTROSOCCER 4 U LTD AXIS MEDIA LTD B&H VINCENT LLP BAKERS PANTRY LTD BARPOINT LTD BASLER (UK) LTD BELL POTTINGER LLP BETTERCLEAN (SERVICES) LTD BLUECHIPWORLD SALES…
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West Wales Credit Union has ceased trading. The Financial Services Compensation Scheme (FSCS) has stepped in to protect members of West Wales Credit Union Limited; which has stopped trading and is now in default. This means it cannot re-pay deposits to its 1,700 members. FSCS will compensate the vast majority of members within seven days.…
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