Credit, Collections & Insolvency News
Insolvency and restructuring firm CVR Global has announced that it is strengthening its overseas presence after acquiring an office in Jersey. The Moore Stephens Restructuring and Insolvency team is transferring to CVR Global Offshore Limited – a wholly owned subsidiary of CVR Global LLP and will be based at Wharf Street in St Helier. Adrian…
Read moreIn July, the following administration notices have been issued and advertised in the London Gazette for the following companies: 39-45 GRANSDEN AVENUE LTD ALBION BLADES LTD AMG CHATHAM LTD ASPIN GROUP LTD ATLANTIC CARBON GROUP PLC BATHSTORE.COM LTD BAYLIS AUTOMOTIVE (SMETHWICK) LTD BILLY FOUNDER LTD BOURTON SPA LTD BROADREACH HOUSE BUXTON POWER LTD C.G.P.M. LTD…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in July: 07925099 LTD 1908 HOLDINGS (PORTSMOUTH) LTD 1ST CHOICE VEHICLES LTD 1ST OCTOBER CONSULTING LTD 21ST IXER LTD 24/7 MAINTENANCE (UK) LTD 2B GRAPHICS PARTNERSHIP LTD 43 DIGITAL LTD A MCGREVEY LTD A WEBSTER LTD…
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Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 06718888 LTD 1-2-1 CLAIMS LTD 120 HOLLAND ROAD LTD 123 AP LTD 17 CLARGES STREET RTM COMPANY LTD 3 AD 3 LTD 30 JAMES STREET LTD 360 BUSINESS PARTNERS LLP 4 WESTERN ROAD (POOLE) LTD A & S…
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Ofgem has confirmed that Solarplicity Supply, an energy supplier with around 7,500 domestic customers and less than 500 business customers, has ceased to trade. Under Ofgem’s safety net, the energy supply of Solarplicity’s customers will continue and prepayment meters can be topped up as normal. The outstanding credit balances of domestic customers will be protected.…
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Latest statistics from the British Retail Consortium show that one in four high street shops are now vacant. The national town centre vacancy rate was 10.3% in July, a slight increase on the previous quarters rate of 10.2% and the highest since January 2015. High Street footfall declined by 2.7%. Following from the increase of…
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UK plc borrowing rose for the eighth consecutive year in 2018/19, according to the latest Link Group UK plc Debt Monitor. Net debt (total borrowings less cash), jumped 5.8% to a new record of £443.2bn, even allowing for higher cash balances. Net debt has now risen by three quarters since the low point reached in…
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Cardiff Energy Supply, a small supplier with approximately 800 domestic gas customers, will be ceasing to trade. Ofgem has appointed SSE as the supplier of last resort for these customers. Ofgem said in a news release that customers do not need to worry as they will continue to receive gas supplies as normal and credit…
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Build UK, a representative organisation for the UK construction industry says that its members are continuing to improve their payment performance based on data submitted under the Duty to Report on Payment Practices and Performance. Build UK began publishing this information just 12 months ago, ahead of the Cabinet Office confirming its intention to take account of payment…
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New research from Direct Line for Business has revealed that over the past five years high street businesses have been closing at a rate of four every day as part of the radically changing face of high streets in England and Wales, with shops increasingly being converted into restaurants or takeaways. In 2018/19 two thirds…
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An investigation by the real estate adviser Altus Group reveals that, during the last financial year of 2018/19, 190,000 non domestic premises such as pubs, shops, restaurants and offices in England were hauled before a Magistrate for non-payment of their business rates fuelling claims that the system is seen to be criminalising firms struggling to…
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The Institute of Chartered Accountants in England and Wales (ICAEW) is urging Boris Johnson’s new government to help businesses by dealing with challenges flagged up in its latest ICAEW Business Confidence Monitor™ (BCM). One of the most widespread issues found in the report is the rising proportion of businesses which report late payment as an…
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Business recovery specialists Begbies Traynor has announced it has made two senior promotions in its Preston office. Ian McCulloch, previously Insolvency director, has been promoted to Partner and Chris Lawton, previously Insolvency manager, has been promoted to Director. McCulloch joined Begbies Traynor in 2008 and has handled a variety of high-profile administrations and restructuring cases…
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