Credit, Collections & Insolvency News
Business Peer to Peer (P2P) platform, Growth Street, as announced that it is nearing the completion of its solvent wind down and will shortly enter liquidation. The announcement follows the return of 100% of peer-to-peer (P2P) investor funds and a ‘highly successful’ recovery process. Growth Street was launched in 2015 with the mission to support…
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The number of empty shops has risen, with one in seven now vacant, according to new research by the British Retail Consortium (BRC). The quarterly report found that in the first three months of 2021, the overall vacancy rate increased to 14.1%, from 13.7% in the previous quarter. This was 1.9 percentage points higher than…
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County Court Judgments (CCJs) against businesses in England and Wales fell by 55 percent from 33,518 in Q1 2020 to 15,210 in Q1 2021, according to figures released by Registry Trust. Numbers are up 20% from the recent low seen in Q2 2020 but have ranged around the 15,000 mark for the past three quarters.…
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The number of decrees registered against Scottish businesses during the first Quarter of 2021 fell by over 40% according to latest Registry Trust data. The number of decrees against Scottish businesses fell from 722 to 434. The total value fell by 27 percent from just under £3 million to £2.2 million. The average value rose…
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The number of debt judgments registered against Northern Ireland businesses in the first Quarter of 2021 fell by 42% according to the latest Registry Trust figures. The number of judgments registered in Q1 2021 was just 152, compared to 261 in Q2 last year, a fall of 42 percent. The total value of judgments against…
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SME leaders believe it will take on average 12 months for their businesses to regain lost revenue caused by the Covid-19 pandemic, according to research revealed today by Nucleus Commercial Finance. Over half a million SMEs (590,000) say it will take between 10-12 months to make up the lost revenue caused by Covid-19 and 1.6…
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The latest Red Flag Alert research for Q1 2021 has recorded 723,000 businesses in ‘significant financial distress1’ after the largest numerical quarterly leap (93,000) recorded in the research since its new version was launched in 2014. The 15% increase (from 630,000 in Q4 2020) comes as the UK starts its exit from lockdown. This newly…
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Business Loan Network, a peer-to-peer business lending platform has been placed into administration. The company was incorporated and commenced trading in 2010 operating an electronic peer-to-peer platform, with retail and institutional lenders investing in secured business loans. In December 2019 the company took the decision to close the platform to new business and following…
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Latest figures from the Insolvency Service have indicated a 44% rise in business insolvency rates across England & Wales. Business insolvencies in England increased by 44.8% to 992 in March 2021 compared to February’s figure of 685 and were 19.7% lower than March 2020’s figure of 1,236. The number of business insolvencies in March 2021…
Read moreLatest figures released by the Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies continued to remain low in March 2021. The number of corporate insolvencies (liquidations and receiverships) in Scotland fell by 31% in January-March 2021 compared with October-December 2020, and fell by 63% compared with January-March 2020. In March 2021 there were…
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Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies continue to remain low in comparison to previous years. In March 2021 there were 184 personal insolvencies in Northern Ireland, this was 82% higher than March 2020 but 19% lower than March 2019; this consisted of 140 IVAs, 36 DROs and 8…
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In February the following administration notices have been issued and advertised in the London Gazette for the following companies: 03597107 LTD 111 INVEST LTD AGLE ROOFING (UK) LTD BAM PROPCO LTD and other companies BAXTER HOARE TRAVEL LTD BEERONOMY (BAR) LTD BLACK COUNTRY ROCK LTD BRADBURY’S OF EXETER LTD BRADSHAW LEGAL LTD BROAD BEAN EVENTS…
Read moreIn March, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 11712283 LTD 3G TELEKOM LTD 6T9 LTD BALGOWNIE WHOLESALE DISTRIBUTION SERVICES LTD BARDEN GLOBAL LTD BIOSYSTEM LABORATORIES LTD BRIOCHE DOREE LTD BUCKSTONE ROOFING (SCOTLAND) LTD DB SCOT LTD DS BUILDING SUPPLIES LTD DWD CONTRACTING LTD ELDUFGAR…
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