Credit, Collections & Insolvency News
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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In its latest report Brexit: implications for financial reporting, ICAEW’s Financial Reporting Faculty suggests that UK plc should continue to apply internationally-accepted accounting standards if the UK wishes to retain its status as a major global financial centre. However, learning from the experience of the EU and other IFRS (International Financial Reporting Standards) jurisdictions, it…
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The Lord Chancellor has rejected a bid by the ICAEW (Institute of Chartered Accountants in England and Wales) to regulate reserved legal services. Lord Chancellor, David Lidington rejected the ICAEW’s application to become an approved regulator and licensing authority for the six remaining reserved legal services, despite the backing by the Legal Services Board (LSB).…
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Two North West insolvency advisors have joined forces to launch a new corporate restructuring and turnaround practice. Dunham Dean has been set up by Matt Dunham and John Dean, who between them have over 50 years’ experience in turnaround and finance. The firm, which has offices in Liverpool’s Brunswick Dock and Appley Bridge, near Wigan,…
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