Credit, Collections & Insolvency News
One Select, an energy supplier with about 36,000 domestic customers, has ceased to trade. Under Ofgem’s safety net, the energy supply of One Select’s customers will continue as normal. The outstanding credit balances of domestic customers will be protected. Ofgem will choose a new supplier to take on One Select’s customers as quickly as possible.…
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Administration notices have been issued and advertised in the London Gazette for the following companies: ACKRILL NEWSPAPERS LTD ADD PRECISION LTD AIR TRAMPOLINE (CARDIFF) LTD AIR TRAMPOLINE (SWANSEA) LTD AJ WAY LTD ALFA ENGINEERING GROUP LTD ANGLIA NEWSPAPERS LTD ASPIRE CRAFTS LTD ATKINSON PRECISION LTD ATLAS BUSINESS INTERIORS LTD AUTILLA LTD BANDERA LTD BENITA FOOD LTD…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 1ST DOT COM LTD 1ST VENTURE LTD 2NDS FURNITURE LTD 3RD GENERATION LTD 3RD LEG LTD 5 OAKS WINDOW CLEANING COMPANY LTD A-Z ACCESSORIES LTD A. J. MOTORS (PLYMPTON) LTD A.H.Y HOTELS LTD A.J. ELECTRICS LTD A&A…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 0161 LETTINGS AND MANAGEMENT LTD 1ST PLATINUM INVESTMENTS LTD 2M PRINT LTD 2W CONSTRUCTION LTD 360 BUSINESS PARTNERS LLP 3B LOGISTICS LTD 3RD LEG LTD 404 ENTERPRISES LTD 44 LONDON LTD 777 FOODS LTD 7HILLS MECHANICAL LTD A…
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The Government should introduce a tougher regime to tackle larger companies who treat small businesses ‘disgracefully’ by enforcing long payment terms or paying their suppliers late, says the Business, Energy and Industrial Strategy (BEIS) Committee in a report published today. The Small businesses and productivity report says that for a small and medium-sized enterprise (SME) to succeed…
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Debt charity, Business Debtline, has called for further action to support small business owners and self-employed people affected by late payments, where businesses are uncertain when the money they have earned will be paid. In its response to the Department for Business, Energy and Industrial Strategy’s call for evidence on tackling late payments, the charity…
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The average small business is owed £24,841 in late payments according to research by accounting software provider Xero.On any given day, 78% of businesses are owed money outside of agreed payment terms. The research was based on data taken from two million invoices issued by Xero’s UK small business subscriber base which showed that in…
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Accountancy and business advisory firms, BDO and Moore Stephens LLP, are in advanced merger discussions to create a market-leading firm. The new firm will be the leader in advising the UK’s entrepreneurial mid-sized businesses but will also challenge its larger competitors for more complex audit, tax and advisory work. The proposed deal further cements BDO’s…
Read moreResearch commissioned by Dun & Bradstreet revealed UK small and medium-sized enterprise (SME) confidence in future financial success is down 19% compared to last year. The study found that almost a third (32%) of respondents have considered leaving the UK to increase their chances of success. As well as ongoing uncertainty over Brexit impacting growth,…
Read moreSpark Energy Supply, a domestic energy supplier with about 290,000 customers, has ceased trading in the energy supply market. Under Ofgem’s safety net, the energy supply of Spark Energy’s customers will continue as normal. The outstanding credit balances of domestic customers will be protected. Ofgem will choose a new supplier to take on Spark Energy’s…
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Property and audit specialist Capa has announced the appointment of retail surveyor James Ratcliffe. Formerly head of retail at the Leeds office of property advisory business GVA, Ratcliffe has joined as a Director, taking responsibility for asset management of the 300-store estate of fashion retailer Bonmarchè. He joins the property team led by Capa’s co-founder and…
Read moreMid-size and Northern companies have the highest insolvency risk according to analysis from new statistics published by the Government. R3 has reviewed the number of England & Wales corporate insolvencies in 2017, broken down by company age, size and location. The research has found that: Enterprises aged 4-9 years old, or with turnover of £0.5-1m,…
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The proportion of Scottish companies at elevated risk of insolvency fell slightly between October and November, by 1.3% – the first monthly fall in nearly two years, according to research by insolvency and restructuring trade body R3. Just over one in three (35%) companies in Scotland is at higher than usual risk of insolvency in…
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