Credit, Collections & Insolvency News
More than 620 businesses filed for administration in the first six months of the year – a 60% increase compared to 2021, according to analysis by full-service law firm Shakespeare Martineau. Construction, manufacturing and retail were the sectors worst hit, accounting for 40% of administrations. Greater London led the way with 22% of the filings,…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales decreased by 7.2% in June 2022 to a total of 1,691 compared to May’s total of 1,822, but were still 40.1% higher compared to June 2021’s figure of 1,207. Of the 1,691 registered company insolvencies in June 2022…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland were stable in June 2022. In June 2022 there were 76 business insolvencies registered in Scotland, equal to the number in June 2021 but 12% higher than in June 2019. The insolvencies comprised of eight compulsory liquidations,…
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The latest statistics from the Insolvency Service indicate that Northern Irish business insolvencies and personal insolvency figures fell in the latest monthly statistics round-up for June. The figures showed that there were 26 company insolvencies registered in Northern Ireland, 2.4 times as many as in June 2021, but 10% lower than June 2019. The insolvencies…
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Business insolvencies have jumped 70%, from 11,261 to 19,191 in the last year according to analysis by international audit, tax and advisory firm Mazars. The company says the highest interest rates in 13 years have made businesses’ debts more expensive to service and has led to an even greater number of indebted businesses falling into…
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The number of housebuilders going bust surged to a record quarterly high in Q1 2022 (117), jeopardising the much-needed supply of new homes, according to data obtained by Price Bailey. According to data obtained from the Insolvency Service under the Freedom of Information Act, a record 360 housebuilders went bust in 2021/22 (year ending 31st…
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In June the following administration notices have been issued and advertised in the London Gazette for the following companies: 08804168 LTD 1-9 KINGS ROAD LLP 4D PHARMA PLC AAT EVENTS LTD ACB DEVELOPMENT LTD ADMIRALTY ARCH (UK) LTD AIM ALTITUDE LTD AIM ALTITUDE UK LTD APPLEBY CASTLE (OUTBUILDINGS) LTD AUTORESTORE LTD BFS REALISATIONS LTD BLUE…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in June: 3D ENTERPRISES LTD 3D IT ENGINEERING LTD 3H&M LTD 6969 LTD 72 CONSULTANCY LTD A & A PRESTIGE CHAUFFEURS LTD A & MP LTD A B MEDIATION LTD A H A EVENTS. LTD. A…
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In June Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: &BUILD LTD 112786 LTD 123 AP LTD 2030 LTD 3804242 LTD 90 KENSINGTON PARK ROAD MANAGEMENT COMPANY LTD A & C CIVILS LTD A WORD IN YOUR SHELL-LIKE LTD AB & M TRANSPORT LTD ABBEY MORGAN…
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Government research conducted by audit, tax and consulting firm, RSM UK has found that commercial landlords are treated equitably in company voluntary arrangements (CVAs). RSM’s research* was commissioned by the government’s Insolvency Service to understand concerns within the commercial property sector on the utilisation and impact of CVAs, concerns focusing on compromises to rental debts…
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Business advisory firm, Quantuma, has announced that it has partnered with the UK’s first corporate credit ratings advisory service, Lightbulb Credit, to expand the range of support it can offer to the professional advisory community and their clients across the UK. Lightbulb is the UK’s only advisor offering businesses the opportunity to review, better understand,…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 79.2% compared to May 2021’s figure of 1,014 but dereased by 8.9% in May 2022 to a total of 1,817 compared to April’s total of 1,995. Of the 1,817 registered company insolvencies in May 2022…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in May by 82% In May 2022 there were 93 company insolvencies registered in Scotland, 82% higher than May 2021 and 19% higher than in May 2019. This was comprised of 19 compulsory liquidations, 68 CVLs, and…
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