Credit, Collections & Insolvency News
EY has announced that it has appointed a new Director at its restructuring team in Manchester. Sam Mills will specialise in restructuring, refinancing and turnaround work for corporate clients. He joins from PwC where he supported private businesses and larger corporates with situations of change, transition and financial difficulty over a ten-year period. He has…
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The Department for Transport has today has published the final report from the independent Airline Insolvency Review, which was chaired by Peter Bucks. The Transport Secretary Chris Grayling commissioned the review following the collapse of Monarch Airlines in October 2017, when 85,000 passengers were repatriated – in the UK’s largest peacetime repatriation operation – by…
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Duncan Swift, Corporate Advisory Services Partner and Head of the Food Advisory Group at Moore Stephens, has been appointed President of insolvency and restructuring trade body R3. As President, Swift will work with the R3 senior management team to help shape R3’s direction, as well as supporting its day-to-day operations. His main areas of focus…
Read moreCompanies will be better protected from fraud, under new Companies House reforms that will do more to safeguard the personal data of business owners and ensure the accuracy of the register. Business Minister Kelly Tolhurst has unveiled a substantial package of reforms to Companies House. With the clear aim of minimising the burden on law-abiding…
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New analysis from KPMG UK finds the rising prominence of so-called ‘zombie firms’ is threatening to cause a significant drag-effect on the UK economy. KPMG’s analysis looks at the last three annual accounts of listed UK companies (FTSE and AIM) reveals that 8% of UK companies currently display zombie-like symptoms. But based on the latest…
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Duff & Phelps has announced that it has promoted five existing managers within its UK Restructuring Advisory practice to the role of Director, further strengthening the UK team. The promotions of Simon Shipperlee, Rob Goodhew, Mike Lennon, Mike Parsons and Martin Graycome on the back of Duff & Phelps’ announcement earlier this year of its global Restructuring team…
Read moreThe Insolvency Practitioners Association (IPA), the membership body and regulator for those specialising in insolvency practice, has appointed Carrie-Ann James as its new President for the coming year. James takes office with immediate effect, and for the coming 12 months will serve as a key representative of the association and Chair of its board of…
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Commenting on the Appointment Administrations from April 2019 Insolvency analyst Geoff Swire from geoffswire.co.uk said “Without any one month being exceptional the Q1 2019 produced the highest number of Administrations (428) since 2014. Members Voluntary Liquidations (MVLs) and Creditors’ Voluntary Liquidations (CVLs) have both seen their usual uptick at this time of the year but…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 06606420 LTD 07081565 LTD 08141019 LTD 09874619 LTD 1881 RIPON LTD 209V LTD 21CE INSTALLATIONS LTD 2XL CLEANING SOLUTIONS LTD 3R MEDITERANEAN LTD T/A ROSIE’S MEDITERRANEAN 3S ARCHITECTS AND DESIGNERS LTD 4AMIGOS RESTAURANT (CHESTER) LTD 4D2K LTD…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1ST CHOICE PROPERTIES (SRAL) LTD 2 ALL OCCASION SA CATERS LTD 38 WILTON LTD A1 MEAT SUPPLIES LTD ABBEY FIRE EXTINGUISHERS LTD ACA ASPVM GROUP LTD ACCESS CORPORATE LTD ACREMANS TIMBER LTD AIM PERSONNEL LTD AJH TAVERNS LTD…
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The Scottish retail sector had its highest ever quarter for insolvencies in the first three months of 2019 according to new analysis of the sector by leading accountants and business advisers French Duncan LLP. In Q1 28 retailers were made insolvent which is already over 40% of the entire figure for 2018 when 68 retailers…
Read moreRetailers are being encouraged to work with insurers to enable informed and accurate trade credit decisions, according to credit insurer Atradius. In its latest Market Monitor report focusing on the retail sector, Atradius highlights the importance of real-time information and close-working relationships with retailers as imperative to credit risk analysis. The advice comes as Atradius…
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The Insolvency Service has published its annual plan 2018-19 business plan outlining targets and priorities Inspector General and Chief Executive,Sarah Albon said that the Insolvency Service is handling the largest and most complex insolvency in the agency’s history. “Through its sheer size and scope, Carillion is touching all corners of the agency, from the official…
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