Credit, Collections & Insolvency News
In December, the following administration notices have been issued and advertised in the London Gazette for the following companies: 151617 LTD ACEGOLD LTD ACORN SCAFFOLDING (YORKSHIRE) LTD ACTIVE SECURITIES LTD ADDITION MANUFACTURING TECHNOLOGIES U.K. LTD AG RETAIL CARDS LTD AKAAL CONSTRUCTION LTD ALEXANDER WADDINGTON LTD ALPINE WINDOW AND DOOR SYSTEMS LTD AMG ELECTRONICS LTD AQUAFLAME…
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In December, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1ST PLATINUM INVESTMENTS LTD 78 MCT LTD ABFIT LTD ABR RESCUE LTD ABSOLUTE CONTRACT CLEANERS LTD ACE BUILDINGS AND MAINTENANCE SERVICES LTD ACORN EAST ANGLIA LTD ACTWELL INC LTD ADEPT FULFILMENT LTD ADVANCED CONSTRUCTION AND MASONRY…
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New figures from the British Retail Consortium have shown that 2019 was the worst year on record for UK retailers with total sales for 2019 decreasing by 0.1%, compared with 1.2% growth in 2018. This is the worst year on record. The December figures are positively distorted by the late timing of Black Friday, which…
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Business advisory firm Quantuma has announced the appointment of Louise Durkan as Partner in its Bristol office, as the company continues to grow its practice in the South West. Durkin joins from Deloitte, where she spent more than 10 years in the firm’s financial advisory practice. In total, Durkin has more than 20 years’ experience…
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Dean Beale has been appointed as Chief Executive Officer of the Insolvency Service. Beale has been acting as Interim Chief Executive since September. Prior to this, he was Director of Strategy and Change, overseeing policy development, regulation of the insolvency sector and leading the department’s transformation programme. Beale has worked in the insolvency field for…
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Insolvencies in the UK steel sector are forecast to rise by 5% in 2020, according to a report from trade credit insurer Atradius. The Atradius annual Market Monitor on the steel sector highlights ongoing challenges for the UK steel industry, which are driving a deterioration in profit margins. Energy costs for British steel producers –…
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UK hotel insolvencies hit a five-year high last year, rising by 60% to 144* (year to September 30 2019) from 90 the year before, according to research by UHY Hacker Young The rise in insolvencies is driven in part by a slowing UK economy, which has caused businesses to cut back on conferences and ‘away…
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Around one in three (33.8%) Scottish-registered companies had a higher than usual risk of insolvency in December, according to new research from insolvency and restructuring trade body R3 in Scotland. The equivalent figure for the UK overall is higher, at over two in five (41.1%), while the South East of England is the region with…
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Duncan Swift, President of insolvency and restructuring trade body R3 has responded to the Queen’s Speech Swift said “We hope the Government does not miss the opportunity to make progress with much-needed – and long-awaited – corporate insolvency and restructuring reforms. They don’t appear to have been included in any of the planned bills, and…
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Breeze Energy, a gas and electricity supplier with just under 18,000 domestic customers is ceasing to trade. Under Ofgem’s safety net, the energy supply of Breeze Energy’s customers will continue and outstanding credit balances of domestic customers will be protected. Ofgem will choose a new supplier to take on all of Breeze Energy’s customers. This…
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Major insolvencies have rebounded as retail and construction accounted for more than a quarter of the world’s large corporate failures in Q3 2019, according to trade credit insurance provider, Euler Hermes. The insurer’s findings on global corporate insolvencies with turnover exceeding €50 million show there was an increase between July and September from 74 to…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in November: 07446749 LTD 1K1 LTD 1ST DIBBS LTD 2868 LTD 321TRAVEL LTD 3SIXTY5 SERVICES LTD 4 SEASONS WINDOWS DOORS AND CONSERVATORIES LTD 4-INTERIOR LTD 50CYCLES LTD 808 LEISURE LTD A & C THERMAL LTD A…
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In November, the following administration notices have been issued and advertised in the London Gazette for the following companies: 30 PERCY STREET LTD ADMIRABLE CRICHTON LTD(THE) AGP PLAY LTD AKHQ LTD ALLEN WILSON JOINERY LTD ANCHOR BAY CONSTRUCTION PRODUCTS LTD ANNICARE LTD AUTO SILICONE HOSES LTD BELMONT GARAGE LTD. BIRLEY MANUFACTURING LTD BRICKVEST LTD. BRICKVEST…
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