Credit, Collections & Insolvency News
Latest quarterly figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales decreased by 4% but rose 18% year-on-year in Quarter 1 (Q1) when compared to Q1 2022. The figures show between 1 January and 31 March 2023, there were 5,747 company insolvencies made up of 4,739 creditors’…
Read more
Latest quarterly statistics have indicated that Scottish business insolvencies increased whilst personal insolvencies remained static in Quarter 1 (Q1) of 2023. The figures showed that there were 297 total business insolvencies in Scotland in Q1, 41% higher than in the same quarter of 2022. These business insolvencies comprised 113 compulsory liquidations, 176 CVLs, seven administrations…
Read more
Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies and business insolvencies decreased in Quarter 1 (Q1) of 2023. The figures showed that there were 40 business insolvencies in Northern Ireland in Q1 2023, a decrease of 29% from the same quarter of 2021. The insolvencies comprised 28 CVLs, four…
Read more
Annual figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers in Scotland rose by nearly a third (32.6%) in the year 2022-2023. There were 1,132 business insolvencies an increase of 32.6% from 2021-2022’s figure of 854, an increase of 157.3% on 2020-2021’s figure of 440, and a rise of 19.4% compared to…
Read more
Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for March 2023 rose by 16%. The number of registered business insolvencies in March 2023 was 2,457, 16% higher than in the same month in the previous year (2,120). The increase in company insolvencies compared to March…
Read more
Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland rose in March 2023. The figures showed that there were 104 company insolvencies registered in Scotland, 21% higher than the number in March 2022. This was business insolvencies comprised of 40 compulsory liquidations, 61 CVLs, two administrations…
Read more
Latest monthly statistics from the Insolvency Service have indicated that Northern Irish business insolvencies decreased while personal insolvencies declined slightly. In March 2023 there were 12 business insolvencies registered in Northern Ireland, this was 40% lower than in March 2022. The business insolvencies comprised of eight CVLs, two compulsory liquidations and two administrations. There were…
Read more
The number of companies entering administration in March rose to 130, the highest figure since the Covid-19 pandemic first hit according to analysis by Kroll. The figures show that a rise in administrations continued in March, hitting the highest level since March 2020, when lockdowns made trading impossible for many firms. In Quarter 1 (Q1) of 2023,…
Read more
New data analysis has revealed that over half a million UK businesses dissolved in 2022. The research from NerdWallet showed that 534,777 businesses dissolved in the 12 months of 2022 with the year seeing the second-highest number of business closures in a decade. The figure companies with 601,773 dissolved companies in 2021 as a result of…
Read more
Global insolvencies are set to surge by 21% in 2023 and 4% in 2024, while insolvencies in the UK are expected to increase by 16% and 9% in the same period as businesses are tested by weak demand, prolonged pressure on profitability, weaker cash buffers and tighter-for-longer financial conditions, according to latest analysis by Allianz Trade.…
Read more
In March the following administration notices have been issued and advertised in the London Gazette for the following companies: 11D REALISATIONS LTD ABS RESTORATION LTD ABSOLS LTD ACCOUNT TECHNOLOGIES HOLDINGS LTD ACCROFAB LTD ACKIO (UK) LTD AIRTEK WORLD LTD ALLTEKS LTD ALOMORA GROUP LTD AQUILA FACILITIES LTD ARM AUTOMOTIVE YORKSHIRE LTD ASK INCLUSIVE FINANCE LTD…
Read more
In March Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 4D ELECTRICAL SERVICES LTD 7DJ LTD 9CK SPORTS HOLDINGS LTD A 2 Z RUG LTD A HAMILTON CONSTRUCTION LTD A3 MANAGEMENT LTD ACCOUNTING SUPPORT SERVICES LTD ADVANCE MACHINING SOLUTIONS LTD ADVANCED MECHANICAL PROJECTS LTD AFP REALISATIONS…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in March: (STAFFS) DRIVEWAYS LTD 06442711 LTD 1 MOMENTO BARNSLEY LTD 10TH FLOOR IT CONSULTING LTD 118 PORTLAND ROAD LTD 121 SYSTEMS LTD 1ST ELITE TRADING LTD 1ST FITTINGS LTD 2050 ENGINEERING LTD 21 DEGREES DIGITAL…
Read more