Credit, Collections & Insolvency News
Accountant in Bankruptcy (AiB) has released its latest official statistics reporting company insolvencies in Scotland for the first quarter (Q1) of 2018-19 and final statistics for the 2017-18 financial year. The results show that the number of corporate insolvencies in Scotland fell by 5% in Q1 2018-19 (April-June 2018) compared with Q4 2017-18 (January-March 2018),…
Read moreAccording to Begbies Traynor’s Red Flag Alert research for Q2 2018, which monitors the financial health of UK companies, 472,183 businesses were experiencing ‘Significant’ financial distress at the end of June 2018. This is up 9% compared to the same stage last year (Q2 2017: 434,492) but down 1% compared to the previous three months…
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The Lending Standards Board (LSB) and the Money Advice Trust, the charity that runs Business Debtline, have published a report that explores the impact of vulnerable circumstances on people who run small businesses. The report draws on insight gathered from LSB registered firms, as well as interviews with money advisers and clients of Business Debtline,…
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Around 17% of companies in Scotland may have suffered a financial hit following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3 in Scotland, the insolvency and restructuring trade body. The Scottish figure is lower than the proportion of UK companies reporting a negative effect…
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The number of failures of UK companies has risen 30.0% to 4,827 in the second quarter of the year, compared to the same period a year ago, according to the latest figures from Creditsafe’s Watchdog Report. The quarterly Watchdog report, which analyses financial data across 12* UK business sectors, showed that high profile high street…
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The government has published interim findings from its airline insolvency review. The review set up in the wake of the collapse of charter operator Monarch last year includes changes to the insolvency regime Following the call for evidence, discussions at the public evidence sessions and initial analysis. Findings of the review so far include that: airline…
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The Government has published its Brexit white plans on the future relationship between the UK and the European Union Commenting on the document Duncan Swift, Vice-President of insolvency and restructuring trade body R3, said “It’s encouraging to see the Government take post-Brexit cross-border insolvency issues seriously, and we welcome both the commitment to seek a…
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Wilkins Kennedy LLP has been acquired CogitalGroup. The CogitalGroup UK regional business, Baldwins will merge with Wilkins Kennedy as part of the agreement. Wilkins Kennedy LLP, is a UK top 20 business services firm, with over 700 employees and partners and an annual turnover in excess of £54 million. The firm has 18 offices across London…
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Aaron & Partners LLP has announced that it has appointed Stephen Taylor to join its Dispute Resolution and Insolvency team as a Senior Partner. Nick Clarke, Partner and Head of Dispute Resolution & Insolvency, said “Stephen’s appointment is a significant one for us as a firm and a real statement of intent for the Dispute Resolution…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: (EN) 10 (GLOBAL) LTD 1PK LTD 24/7 RESCUE AND RECOVERY UK LTD 3B VISION LTD 3G TOOLING LTD A.S.T. DEVELOPMENTS LTD A1 DEMOLITION LTD A1 HARPREET CONSTRUCTION LTD ABC EVENTS (SCOTLAND) LTD ACCESS SECURE SCAFFOLDING LTD ACM FACILITIES…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 108 ENTERPRISES LTD 1ST CHOICE FLOORING AND BLINDS LTD 1ST EQUITY LTD 2 ADVANCED IT LTD 300 TRADING LTD 312 SW3 LTD 3D’S LETCHWORTH LTD 3NINE GROUP LTD 4 SEASONS STORE LTD A & R GENERAL BUILDERS…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 1ST CALL RECRUITMENT LTD A2B LOGISTICAL LTD ABBEVILLE INSTRUMENT CONTROL LTD ADAM MICHAEL SCAFFOLDING SERVICES LTD ADM PRECISION LTD AL-UMMAH HALAL POULTRY LTD ALLABOUT CLEANING SPECIALISTS LTD ANBO INTERNATIONAL LTD B & W LOGISTICS LTD BARWELL FINISHERS LTD BAXENDEN DEVELOPMENTS LTD…
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Debt levels among Britain’s listed companies have hit a record high according to new research by Link Asset Services. Link Asset Services’ Debt Monitor report has revealed that listed companies’ debt has increased 69% since 2010/11, with oil companies seeing the fastest increase. The report measures the level of debt taken on by the UK’s…
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