Credit, Collections & Insolvency News
The Insolvency Service has published the latest business insolvency statistics for Q3 (July to September 2018) for England and Wales. The statistics show that total business insolvencies increased by 9% in Q3, and rose by 19% compared to Q3 2017. This was driven by a rise in underlying creditors’ voluntary liquidations which increased to their…
Read more
Businesses in Britain have a higher proportion of overdue invoices compared to their counterparts across Western Europe, new research by trade credit insurer Atradius reveals. The annual Atradius Payment Practices Barometer for Western Europe found almost half of all British business invoices (48.7%) were overdue. This compares to an average across the region of 41.8%,…
Read more
Accountant in Bankruptcy (AiB) has released official statistics reporting corporate insolvencies Scotland for the second quarter (July to September 2018) of 2018-19. The number of corporate insolvencies in Scotland fell by 5% in Q2 2018-19 (July-September 2018) compared with Q1 2018-19 (April-June 2018), but rose by 4% compared with Q2 2017-18 (July-September 2017). Commenting on the…
Read moreFewer large Scottish businesses are failing as more adapt to tough trading conditions, according to newly-released data by KPMG. The number of large companies collapsing in Scotland fell by almost a third (29%) in the last quarter (July-September) compared to same period in 2017 (17 down from 24). Total administrations in 2018 have fallen by…
Read more
William Brooks, Managing Director at Eximus Capital, has been announced at the next Vice President of ICAEW and will take office from June 2019. Brooks completed his training in 1980 with Dearden Farrow. He then joined Peat Marwick Mitchell & Co (now KPMG) in 1981 where he stayed for five years, specialising in banking and…
Read moreUsio Energy, an energy supplier with around 7,000 domestic customers, has ceased trading. The energy supply of Usio Energy customers will continue as normal, and their outstanding credit balances protected under Ofgem’s safety net. Ofgem will choose a new supplier to take on Usio Energy’s customers. This supplier will contact these customers individually when this…
Read more
Sales across UK business rose by 1.5% in the last three months, the equivalent of £99.8bn, according to the latest figures from the Creditsafe Watchdog Report. This follows two consecutive quarters in the year to date of falling sales and rising company failures. The quarterly Watchdog report, which analyses financial data across 12* UK business…
Read more
The late payment crisis is getting so bad for UK small businesses that 17% of business owners say they are forgoing paying themselves a wage so they can pay their staff on time. This rises to 27% of small businesses that say they are already struggling to survive. New research from Hitachi Capital Business Finance…
Read more
Over 2,700 construction firms enter insolvency in the last year – 6% rise following Carillion liquidation according to market analysis by Moore Stephens. 2,764 construction firms entered insolvency in 2017/1, jumping 6% in just a year from 2,608 in 2016/17. The significant rise in insolvencies follows Carillion’s liquidation in January 2018, which caused knock-on effects…
Read more
Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 365 CATERING LTD A & E CIVIL ENGINEERING LTD A D TOOL HIRE LTD A L C (MIDLANDS) LTD A PRITCHARD LTD ACE BODYSHOP LTD ACHOM AND PARTNERS LTD AD2ONE LTD ADELAAR LTD AELLA LTD AFA PRESS UK…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: XYZ CAD SERVICES LTD 2THEDOOR LTD 3S PRINT AND DISPLAY LTD 4 RINGS SPARES LTD 51 DELICATESSEN LTD 7/7 CLEANING SERVICES LTD 7777777 LTD A CLASS INTERIORS LTD A DIFFERENT CALIBRE LTD A J BARLOW LTD A…
Read more
Administration notices have been issued and advertised in the London Gazette for the following companies: ACTION SPORTS MEDIA LTD AEGIS DATA PROPERTIES LTD AMEY BIRMINGHAM HIGHWAYS HOLDINGS LTD ARMATUS RISKS HOLDINGS LTD ARTIES MILL LTD AVANTI JEWELLERY LTD AZZURRI HOLYWOOD LTD BEDARO LTD BERTINALEY CARE LTD BESTIVAL GROUP LTD BESTIVAL LTD BLAIR INSTALLATIONS LTD BMAC FOOD…
Read more
A new report on the Central and Eastern European region (CEE) by Coface has revealed that the region has seen an increase in insolvencies. The report says that the region has been enjoying the improved economic activity in recent years. This was particularly noticeable in 2017, when the region’s average GDP growth soared to 4.5%…
Read more