Credit, Collections & Insolvency News
There was a 20 percent rise in the number of judgments recorded against consumers in the Republic of Ireland in Q4 2019, compared to the same period last year, figures released by registrar Irish Judgments show. Consumer judgment numbers rose from 516 in Q4 2018 to 618 Q4 2019, while the total value grew by…
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Judgments taken out against consumers in Northern Ireland rose 16 percent in Q4 2019 compared to the same period in 2018, according to figures released today (27th January 2020) by Registry Trust. 1,732 judgments were taken out against consumers compared to 1,494 in Q4 2018. The average value rose by 7 percent pushing up the…
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The Insolvency Service has released its annual figures on business insolvencies which show that excluding one-off ‘bulk insolvency events’, seasonally adjusted corporate insolvencies in 2019 rose 6.8% from 2018. Excluding these one-off events, there were 17,196 business insolvencies in 2019 – the highest since 2013 Underlying Creditor Voluntary Liquidations were at their highest annual level…
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The second Commercial Credit & Collections conference saw the themes of Brexit and technology within credit management discussed at an event hosted by Aon and CVR Global at last week’s (23rd January 2020) event held at the Leadenhall Building in London. Over 80 industry professionals from the commercial credit management sector attended the event. The…
Read moreIn what is a landmark case for the Insolvency Service, the courts have recently ordered a disqualified wine merchant to pay back more than £500,000 to creditors. This was after he abused customers’ trust and removed funds, of which a large part was due to be paid to customers after selling their wine stocks or…
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New research from insolvency firm, Begbies Traynor has revealed that the number of businesses in significant1 financial distress has risen to 494,000 – the highest number recorded by this research, with the real estate and property, support services, construction and retail the sectors particularly badly affected. The latest Red Flag Alert data for Q4 2019…
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There was a 20 percent drop year-on-year, in the number of County Court Judgments (CCJs) registered against businesses in England & Wales in Q4 2019, according to the latest figures released by Registry Trust. The total number of judgments against all businesses decreased from 29,303 in Q4 2018 to 23,418 in Q4 2019, and was accompanied…
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New figures from the British Retail Consortium have shown that in Q4 2019, the total number of retail employees fell by 1.8% year-on-year, a lower rate of decline when compared to Q4 2018 when employment fell by 2.8%. This is the 16th consecutive quarter of year-on-year decline in the retail workforce, proof that the transformation…
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Insolvency and restructuring firm CVR Global has announced that it has made a key appointment at its Colchester office to broaden its footprint across the region. Marc Potter, who has more than 30 years’ experience in the insolvency industry, has joined CVR Global as an Associate Director and will be based at the firm’s office…
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The latest official statistics show that corporate insolvencies in Scotland for the whole of 2019 were 4 percent up on the year before, at 980, putting them at their highest level since 2012. However, the figures fell by 4% in October-December 2019 when compared with July-September 2019, and rose by 8% compared with October-December 2018.…
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Small food and drink producers are being urged to enhance their risk mitigation processes in a sector report by trade credit insurer Atradius. The Food Market Monitor by Atradius reports that with more than 45% of food consumed in the UK imported, exchange rate volatility and its impact on the cost of commodities and food…
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One in five UK businesses are financially stressed, with more than 1,000 companies in situations of acute distress, according to new research from KPMG. KPMG’s Restructuring practice analysed the filings of all UK businesses with revenues in excess of £10m over a five year period to the end of 2018 – a population which grew…
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The number of UK retailers entering administration in 2019 was 124 compared to 125 in 2018, a marginal decrease of 1%, according to Deloitte’s latest insolvency figures. This came despite December seeing a significant year-on-year increase in retail administrations with 11 taking place in December 2019, compared to seven in 2018 – a 57% surge.…
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