Credit, Collections & Insolvency News
Experts have assessed that £5 billion of state-backed government Covid-19 emergency loans are at risk of not being repaid, far less than feared due to the strong economic recovery. Analysis has suggested that between 5% and 10% of SME businesses that have used the government’s £47.4 billion emergency loans support scheme have missed repayments. although…
Read more
Tax and business advisory firm Azets has announced that it has acquired Moore South’s restructuring & insolvency (R&I) team. As part of the deal, current leaders of Moore South’s R&I practice, Duncan Swift and Chris Tate, will move to Azets. The acquisition includes the team’s current clients and will enhance Azets’ restructuring and insolvency national capabilities established…
Read more
In July the following administration notices have been issued and advertised in the London Gazette for the following companies: 24 LIVE UK LTD ADEO CONSTRUCTION SERVICES LTD ADRECK DIAGNOSTICS LTD ADVANCED GLASS FACADES LTD ALUMINIUM FRANCE INDUSTRIES UK LTD ARVIA TECHNOLOGY LTD AVANTA LONDON LTD BITUMINA INDUSTRIES LTD BRISTOL & LONDON PLC CALVERLEY HOUSE LTD…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in July: “SKELBKITES” ADVERTISING LTD 1 THIRTY3 DESIGN LTD 1ST CALL LOCKSMITHS LTD 1ST CHOICE MANAGEMENT SERVICES LTD 1ST SCAFFOLDING (UK) LTD 2EDDIES TRAVEL SERVICES LTD 3 PIERS BREWERY LTD 5 STAR SITE SERVICES LTD 54…
Read more
In July, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ABBEY FENCING LTD ACOS FE LTD ACUMEN GROUP LTD ADDINGTON EQUESTRIAN 2019 LTD AG SAFEBOOTHS UK LTD AVONHALE LTD BEASONS CONSTRUCTION AND DEVELOPMENT LTD BPL BUILD LTD BUSINESS BRAIN LEADERS LTD COUNTRY BUILD SW LTD DELTA…
Read more
New research by outsourced finance solution specialist, Addition, has found that nearly a third of UK businesses are concerned about surviving the next 12 months. The national survey highlighted the main concerns for small business owners over the next 12 months., showed that surviving without government support is the biggest concern for businesses in the…
Read more
Latest quarterly figures from the Insolvency Service have indicated that business insolvency numbers across England & Wales were 31% higher than in Q1 2021 and 4% higher than in Q2 2020. There were 3,116 seasonally adjusted corporate insolvencies in Q2 2021, an increase of 31.4% compared to Q1 2021’s figures of 2,371 and a rise…
Read more
One in seven shops is lying empty, with the number rising over the last three months even as the economy reopened, new figures from the British Retail Consortium (BRC) and Local Data Company. show. In the second quarter of 2021, the overall GB vacancy rate increased to 14.5%, from 14.1% in Q1. It was 2.1…
Read more
The latest Red Flag Alert research for Q2 2021 has recorded 650,000 businesses in ‘significant financial distress’ – the second-highest distress level ever recorded by this research. However, this number has fallen 10% since the highest recorded number of significantly distressed businesses in Q1 2021 (723,000) by the Red Flag Alert, as the economy has…
Read more
County Court Judgments (CCJs) registered against businesses England and Wales fell by 24 percent in the second half of 2021 (H1 2021), compared to the same period in 2020, according to figures released by Registry Trust. The number of CCJs against businesses fell from 46,117 in H1 2020 to 35,228 in H1 2021. The total…
Read more
Latest figures from the Registry Trust has shown that the number of decrees against Scottish businesses rose by 36 per cent from 268 to 365 in the second quarter of 2021 (Q1 2021). The total value actually fell by nearly one-third from just under £2 million to £1.4 million. As a result, the average value…
Read more
The number of debt judgments registered against Northern Ireland businesses fell by more, down 24 per cent from 353 in H1 2020 to 269 in H1 2021. The total value of business judgments fell by a similar degree, 21 per cent, from £1.2 million to £976,602. As a result, the average value of business judgments…
Read more
More than one in four businesses that deferred tax payments during the initial lockdown last year still owe the HMRC. A total of 156,500 out of 590,000 businesses that utilised the Government’s VAT deferral between March and June have failed to make contact with HMRC to pay what they owe, even though the deadline to…
Read more