Credit, Collections & Insolvency News
Administration notices have been issued and advertised in the London Gazette for the following companies: 4MEDIA LTD 63000HOMES LTD A & S TASKER INTERNATIONAL LTD ADB ALARMS LTD ALBERT MEDICAL DEVICES LTD ALEXANDER COMLEY LTD ALPHACRAFT (HIRE SERVICES) LTD ALTEC ENGINEERING LTD ALTEC HYDRAULICS LTD AMS VEHICLES LTD AMS VEHICLES LTD AMTEK ALUMINIUM CASTINGS (WITHAM) LTD…
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New research from Begbies Traynor shows that 329,834 UK companies were experiencing “Significant” financial distress at the end of Q2 2017, a 25% increase from Q2 2016 (263,517 companies), representing the largest annual increase since Q2 2014 and the largest number of corporates experiencing significant distress in at least 5 years*. The Red Flag Alert…
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19% of estate agents in the UK currently exhibit warning signs that indicate they are at risk of going insolvent according to the latest research by Moore Stephens. The research shows that 4,928 estate agents out of a total 25,560 are showing signs of financial distress. Online estate agencies such as PurpleBricks, House Simple and…
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FRP Advisory has strengthened its north of England operation with the merger into the partnership of BWC, the Yorkshire and Teesside-based, independent, corporate recovery and insolvency specialists, bringing into the group all of its 16 staff including three partners and four directors. Led by founding partners Gary Blackburn and Paul Whitwam, David Willis, Martyn Pullin…
Read moreThe latest results Insolvency statistics from The Insolvency Service for Quarter 2 (April to June 2017 (Q2 2017) reveal that total company insolvencies increased in Q2 2017, primarily caused by 1,131 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. The estimated underlying number of company insolvencies fell…
Read moreThe number of Scottish businesses becoming insolvent or entering receivership dropped by almost 25% compared to a year ago, according to figures from Accountant in Bankruptcy (AiB) for the first quarter of 2017-18. Compared to the first quarter of 2016-17, there were 200 corporate insolvencies, down from 265 – a drop of 24.5%. The figure…
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Smith Cooper has announced the appointment of Andrew Stevens as an Insolvency Director. Stevens’s career, spanning 29 years, is built on advising distressed and underperforming owner managed businesses in the SME market and for the last 15 months, he has been involved in his own boutique Insolvency Practice. In his new role at Smith Cooper, Andrew…
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Insolvency action may arise as an unintended consequence of the introduction of the new Pre-Action Protocol for Debt Claims on 1st October according to law firm Clarke Willmott. Karen Chapman from Clarke Willmott LLP. Chapman says the Ministry of Justice’s protocol will potentially make it a longer and more onerous process to recover debts from sole traders or…
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Law firm Howes Percival has acquired Summers Nigh Law. Summers Nigh Law is a niche insolvency firm with a significant number of local and national clients in the development & construction, manufacturing, technology, automotive, food & drink, agriculture and education sectors. Summers Nigh Law’s two partners, Katie Summers and Deborah Nigh, together with their five support…
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New research from Moore Stephens indicates that 26% of construction companies currently exhibit warning signs that indicate they are at risk of failure. Companies building commercial properties are most at risk, with 32% facing an increased chance of entering into insolvency by 2020. This compares to 23% for those building residential properties. The research reflects…
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The Institute of Chartered Accountants in England and WalesChartered Accountants in England and Wales’ (ICAEW has appointed Tyrone Courtman as Chair of its insolvency and restructuring special interest group. Courtman is a Partner at PKF Cooper Parry has more than 25 years’ experience, leads PKF Cooper Parry’s business restructuring, recovery and insolvency services team across the…
Read moreThe UK’s smaller businesses are facing a total bill of £2.16 billion to chase overdue payments, according to Bacs Payment Schemes Limited (Bacs). That’s in spite of a dramatic drop in the overall late payment debt, with new figures showing that UK small to medium size enterprises (SMEs) are owed £14.2 billion in contrast with…
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Administration notices have been issued and advertised in the London Gazette for the following companies: ALO CARE LTD 1ST SOLUTIONS EMPLOYMENT AND TRAINING SERVICES LTD ADAMS SHEET METAL LTD ADVANTAGE RENTALS & REPAIRS LTD AEGIS WIND FINANCE (NO.2) LTD ALO CARE LTD ALO CARE LTD ARGYLL RENEWABLE ENERGY LTD AUDIOLOGICAL MEASUREMENT & REPORTING LTD B60…
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