Credit, Collections & Insolvency News
Sixty two per cent of a cross section of the UK’s insolvency industry believes that Brexit will lead to an increase in the number of business failures over the next 12 months, according to a survey conducted by international law firm Pinsent Masons. Over 400 insolvency practitioners attended th Restructuring and Insolvency conference, hosted by Pinsent…
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Appointment of Administrators Notices – September 2016 Administration notices have been issued and advertised in the London Gazette for the following companies: 247 TRANSPORTER LTD LSC 4CHILDREN (TRADING) LTD A-B-A-C-U-S FRANCHISING COMPANY LTD AAC MECHANICAL & ELECTRICAL LTD ACORN SHIPYARD LTD ALAN KIRKHAM LTD ALATAS ENGINEERING LTD ALBEMARLE SHOREHAM AIRPORT LTD AUTO FUEL FIX…
Read moreWinding Up Petitions (Companies) Notices – September 2016 Petitions have been issued and advertised in the London Gazette for the following companies: 13LAB EDITION LTD ABBEY ROSE INVESTMENTS LTD ABBEY SURFACING AND CONSTRUCTION LTD ABLE BUSINESS SERVICES CLEANING SOLUTIONS LTD ADCOCK CONSTRUCTION LTD ADVANCE ROBOTIC TECNIK LTD AFFORDABILITY SOLUTIONS LTD AGA LONDON LTD AGWM LTD…
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Moore Stephens LLP has published it’s annual company results and has announced revenues of £105.5million, representing 14% growth on the previous combined year’s figures and over £13million of new business. The firm, which is the largest member of the Moore Stephens UK network, merged with Chantrey Vellacott DFK LLP in May 2015. The strong organic growth,…
Read moreCVR Global has appointed Simon Lowes to its partner team. Lowes is a licensed insolvency practitioner with more than 30 years of experience in the insolvency and business recovery sector. He joins Matthew Fox as CVR Global’s second partner based in Southampton. Matthew Fox, Partner at CVR Global, said: “Simon is a highly experienced insolvency practitioner who…
Read moreResearch from Funding Options has announced that the number of businesses whose assets were seized by the HMRC in order to settle outstanding debts grew sharply in the last year is up 145%, from 649 in 2014/15 to 1,592 in 2015/16. Funding Options adds that HMRC seized assets to recover £42.6m of outstanding debt in the last…
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UHY Hacker Young has announced the appointment of Martin Jones as a new Partner in its London audit and assurance team. Laurence Sacker, Managing Partner of UHY Hacker Young, says: “We are delighted to have Martin join the UHY Hacker Young team at our London office. Martin’s specialist knowledge and international experience will be highly valuable…
Read moreThe construction sector saw the highest number of company insolvencies in the first quarter of the year, despite numbers falling year-on-year, latest data from the Insolvency Service has shown. In total 672 construction firms went bust in England and Wales between January and March, outstripping other sectors such as the ‘wholesale and retail trade; repair…
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Figures released by the British Business Bank following a Freedom of Information request by the Press Association has found that a third of the public money lent to start up businesses has become bad debt. The Start Up Loans scheme has seen £72.4 million worth of loans written off or fall into default since the programme was launched…
Read moreResearch by Barclays Business has found that up to £550 million is lost every year by SMEs forgetting to pay in or losing cheques written to their business. Of those that have lost or forgotten to deposit a cheque, two in five (38%) admit to doing it only on one occasion, however one in five…
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http://www.cityam.com/248074/small-businesses-lost-6bn-last-year-not-chasing-bad-debts
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A R3 report has found that at least one fifth of UK corporate insolvencies in the past year were caused by late payment or the insolvency of another company. The survey of the insolvency profession reveals that late payment for goods or services was a primary or major cause of 23% of insolvencies in the last…
Read moreAccountancy firm Moore Stephens has appointed Lee Causer as partner working in its restructuring and insolvency team.
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