Credit, Collections & Insolvency News
The number of company insolvencies in England and Wales rose to 1,228 in December, data from the Insolvency Service has revealed. The figures are up by 9.2% on December 2019 and mark the first increase since February, with Government support rolled out amid the coronavirus crisis helping prevent a number of company failures – with…
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Scottish business insolvencies in December 2020 fell by almost half compared with December 2019 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that there were 57 company insolvencies registered in Scotland, 36% lower than in December 2019. This comprised of 21 compulsory…
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Northern Irish personal and business insolvency numbers remained low according to the latest figures published by the Insolvency Service. In December 2020 there were 156 individual insolvencies in Northern Ireland which was 17% lower than December 2019. The figures consisted of 132 IVAs, 15 DROs and nine bankruptcies. Overall, the numbers of individual insolvencies have…
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Tens of thousands of businesses will receive insurance payouts covering losses from the first national pandemic lockdown. The ruling from the Supreme Court has delivered its judgment in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case. The Supreme Court has substantially allowed the FCA’s appeal on behalf of policyholders. This completes the legal process for impacted…
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At least 250,000 UK small businesses set to fold without further help, a new study has warned. The Federation of Small Businesses (FSB) Small Business Index (SBI) has shown that confidence at the second-lowest ebb in the report’s ten-year history with one in five firms reduced headcounts in three months to December with one in…
Read moreIn December the following administration notices have been issued and advertised in the London Gazette for the following companies: 100 CLERKENWELL ROAD LTD 254 KILBURN HR LLP AFAN VALLEY LTD ATLANTIC BAY HOTEL (WOOLACOMBE) LTD AG SAFEBOOTHS UK LTD ALLANDER PRINT LTD ALPINE ELEMENTS LTD ALVIS HOUSE LTD ANIMA VINCI LTD ARCADIA GROUP LTD ARCHANT…
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In December, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ACCOUNTANCY SERVICES HR 2 LTD ACCOUNTANCY SERVICES HR 3 LTD ACCOUNTANCY SERVICES HR 4 LTD ADVANCED OPTICAL LTD AG SAFEBOOTHS UK LTD AMS & SONS GROUND ENGINEERING LTD ANVILLE LTD ATLANTIC DWELLINGS HR LTD AXE CORPORATE…
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In the run-up to Christmas, new data from leading insolvency firm, Begbies Traynor, has revealed the full impact of the Covid-19 crisis and tough trading conditions, which shows that 39,232 retailers, including both online and bricks and mortar stores, are now in significant financial distress. This figure from Q4 2020 (1st October – 9th December)…
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Office for National Statistics (ONS) survey data has indicated that over one in four (27.9%) of UK pub and bar operators have fears that their business would fail even before the latest coronavirus lockdown restrictions were announced. Meanwhile, less than one in five (19.1%) of responding pub and bar businesses had high confidence in surviving…
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New figures from the Insolvency Service have shown that business insolvencies in England and Wales increased by 4% in November 2020, with 889 business insolvencies in November 2020 compared to October’s figure of 862, and were 41% lower than November 2019’s figure of 1,512. However, business insolvencies in November 2020 fell by 41% compared with…
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Scottish business insolvencies in November 2020 fell by almost half compared with November 2019 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that in November 2020 there were 46 company insolvencies in Scotland, a reduction of 47% in comparison to November 2019.…
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Northern Irish personal insolvencies decreased by two thirds according to the latest Insolvency Service figures. Personal insolvencies numbers in November 2020 fell by two-thirds compared with November 2019. There were 91 personal insolvencies down 68% from November 2019; this consisted of 52 IVAs, 17 DROs and 22 bankruptcies. Company insolvencies in November 2020 fell by…
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61% of consumers are worried that the high street as we know it is at risk of disappearing, with store closures permanently changing the retail landscape, according to research by KIS Finance. The company says that with the news of the collapse of the Arcadia Group, Debenhams and Bonmarche hitting the headlines, the future of…
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